he fallout from COVID-19 has been brutal for savers; as banks in Singapore have slashed the interest rates on their savings accounts.
Amidst this low-interest-rate environment, Citibank Singapore is offering a new product aimed at helping customers grow their wealth.
The new Citi Wealth First account is the latest savings account from Citibank that lets you earn bonus interest when you spend, invest, insure borrow and save.
But, is this account worth it for you?
Here is everything you need to know!
TL;DR: Citi Wealth First Account Review
|Category||Interest Rate (p.a.)||Frequency||Criteria|
|Base||0.01%||–||Open an account|
(Debit card spend)
|0.2%||Monthly||Spend > S$250 a month on eligible Citibank Debit Cards|
|Save||0.2% (incremental balance)||Monthly||Increase current month’s average daily balance from previous month by at least S$3,000.|
|Invest||0.8%||One time purchase for 12 months of interest||Invest S$50,000 with Citibank
(Unit Trust, Structured Notes, and/or Bonds)
|0.8%||Get S$50,000 in Single Premiums (accumulated within a calendar month)|
|Borrow||0.8%||Take up a home loan (min. S$500,000)|