Consolidated thread for Priority/Privilege Banking

[bazingaman]

With SCB too.

Bank: SCB
Membership type: Priority
Portfolio used for credit facility/margin: bonds/Units
Loan % based on portfolio value: ~ 70%
Credit facility rate: Floor rate+SIBOR (~2% to 3%)
Pros: Easy to get in; RM trying hard to make it happen (subjective)
Cons: Rates increased and the sales charges tend to be quite high.

I have the facility, but stopped using it after the interest rate hike.

For the above post, the answer is leverage. If I can get money at 2%, but invest in a good rating bond for 5% yield, the net 3% is mine.

 

[cybercom8]

Why do you borrow money to buy bonds or stocks?

the returns are better than the loan rates?

 

[cybercom8]

With SCB too.

Bank: SCB
Membership type: Priority
Portfolio used for credit facility/margin: bonds/Units
Loan % based on portfolio value: ~ 70%
Credit facility rate: Floor rate+SIBOR (~2% to 3%)
Pros: Easy to get in; RM trying hard to make it happen (subjective)
Cons: Rates increased and the sales charges tend to be quite high.

I have the facility, but stopped using it after the interest rate hike.

For the above post, the answer is leverage. If I can get money at 2%, but invest in a good rating bond for 5% yield, the net 3% is mine.

any reason why you stopped after the hike? there will still be bonds which offer positive returns after the hike right?

 

[qwertyuiop59]

Need AI to get financing?

 

[cupidsux]

May I know whether it's still possible to get priority SCB then take loan to invest in Bonds . After minus admin fees and everything, still a profit ?

 

[Keverus]

dbs treasures members can use the lounge at T3?

or that lounge only for TPC members?

 

[icicic]

dbs treasures members can use the lounge at T3?

or that lounge only for TPC members?

Normal treasures cannot. Must be at least Asia treasures

Sent from Sony D6653 using GAGT

 

[Charlie_Zhan]

dbs treasures members can use the lounge at T3?

or that lounge only for TPC members?

that one is asia treasures.. not normal dbs treasures..

if i'm not wrong required AUM to be asia treasures member is SGD1.5m and membership status is reviewed and renewed on an annual basis. one of the main perks other than the facilities within the lounges itself is that they give the best foreign currency exchange rates throughout the whole of changi airport and free limo transfers from airports in sg indo and taiwan to your destination.

 

[Keverus]

ah i see.

asia treasures is TPC lor. need 1.5m

moi dont have

 

[SCG8866T]

Reason im still with Treasures besides no need to que and their treasures lounges, is that it also waives all the min fall below balance charges for all accounts across the board(multiplier, savings, current etc). It waives TT charges, equity link note and foreign stock/local stock custodian charges. It waives cheque book charges and many more.

 

[neanea]

Reason im still with Treasures besides no need to que and their treasures lounges, is that it also waives all the min fall below balance charges for all accounts across the board(multiplier, savings, current etc). It waives TT charges, equity link note and foreign stock/local stock custodian charges. It waives cheque book charges and many more.

How much to bank with them for these privileges ?

 

[invisible999]

How much to bank with them for these privileges ?

350k to start with

 

[freebie01]

I just enrolled with Treasures online. When enrolling, I selected one of the participating DBS branches - does that mean that my Treasures access is only restricted to the selected branch? TIA for the help

 

[sgdividends]

Hi,

Im SCB priority also.

Anyone taking a home loan using mortagage offset account using priority status?

Is it good or any bad experience so far?

Thanks
Stephen

 

[Keverus]

I just enrolled with Treasures online. When enrolling, I selected one of the participating DBS branches - does that mean that my Treasures access is only restricted to the selected branch? TIA for the help

no.................

 

[Cen]

Hi,

Im SCB priority also.

Anyone taking a home loan using mortagage offset account using priority status?

Is it good or any bad experience so far?

Thanks
Stephen

So far so good

 

[pointscollector]

Hi,

Im SCB priority also.

Anyone taking a home loan using mortagage offset account using priority status?

Is it good or any bad experience so far?

Thanks
Stephen

I took this facility with my home mortgage last year. The basic is that your Mortgage One account will get interest at 2/3 your mortgage rate and 1/3 at 0.25%. Any interest on your Mortgage One account will be offset from your mortgage payment.

My only comment on my experience is that interest accrued you get in your Mortgage One account is very opaque and you are never told what amount of interest is accrued in your Mortgage One account and how much is used to offset your mortgage payment.

I trust the bank does all the calculations necessary and all is in order...

 

[spearhawk]

Hi,

Im SCB priority also.

Anyone taking a home loan using mortagage offset account using priority status?

Is it good or any bad experience so far?

Thanks
Stephen

Other than higher loan quantum, will there be diff in the loan package if you are PB or not?

 

[Charlie_Zhan]

Reason im still with Treasures besides no need to que and their treasures lounges, is that it also waives all the min fall below balance charges for all accounts across the board(multiplier, savings, current etc). It waives TT charges, equity link note and foreign stock/local stock custodian charges. It waives cheque book charges and many more.

and waive the $5 withdrawal fees when withdrawing from atm overseas.

 

[lcpteck]

Anybody a Citi Priority customer?

Wonder what's special about this account, anybody knows of any perks besides the ones listed on the website? Seems like there's no priority queue.