Personal Finance

The growing affluence of Singaporeans has resulted in a rise in banks like HSBC and Citibank rolling out new banking products and services to better attract and cater to the lifestyles of the emerging affluent. However, what does this mean to consumers and how can these services improve your banking experience?

1. Personalised Service

One key feature is customised service for your banking needs. Not only does this mean that you get to skip the queue, banking support from your personal banker is just a phone call away. HSBC even offers monthly investment insights and analysis for their HSBC Advance members. Advance members can also get financial planning advice from their Advance Managers.

2. Wider Variety of Services

Other than the usual banking services like savings account and loans, you get to enjoy additional counsel on products like investment and insurance. For instance, HSBC Advance customers get personal advice on investment and saving plans to help them fast track their financial goals.

3. Banking Privileges

While the rates differ from bank to bank, banking for the emerging affluent also offers greater benefits, more attractive interest and loan rates, plus cashback programs and more.

4. Greater Convenience

Recognising that time is of the essence to the emerging affluent, online convenience in the form of monthly e-statements and online access to your account is a given. Many banks are also offering mobile banking services, like HSBC through their Personal Internet Banking and Mobile Banking app, and Citibank through their Citi Mobile app, where customers can easily access their accounts.

5. Global Access

With preferential banking, accessing and managing your finances when travelling or working overseas is now easier. Transfer and withdraw cash from anywhere in the world, and receive exclusive discounts for overseas purchases.

Now that you’ve got the lowdown on these key banking benefits, GoBear compares the privileges of HSBC’s Advance and Citibank’s Citi Priority so you can decide better.


HSBC Advance

Citi Priority

Welcome promotion

  • Welcome gifts worth up to S$1,280 when signed up with HSBC Advance Visa Platinum credit card and HSBC’s Personal Loan online.
  • Samsonite Black Label Richmond Spinner 75cm Luggage worth S$950. With min spend of S$1,000 within a month from card issuance.
  • 4 Golden Village Movie Passes worth S$50 when you sign up with a supplementary card.
  • Welcome reward of S$200 cash.

Savings Account

  • Up to 2.45% p.a. bonus interest when you transact on your HSBC Advance Debit Card.
  • Interest of up to 2.50% p.a. with the Citibank InterestPlus Savings Account.

Time Deposit

  • Enjoy up to 1.35% p.a. when you place a new SGD time deposit.
  • N/A

Personal Loan

  • Enjoy personal loan rate at 4.8% p.a. (E.I.R 9% p.a.) with S$200 cashback and processing fee waiver with HSBC’s Personal Loan when you apply online (with a minimum loan amount of S$10,000)
  • Preferential rate of 10.88% p.a. Effective Interest Rate on a Citibank Personal Loan.


  • Enjoy reduced sales charge at only 1.5% for all funds purchase online.
  • S$80 cash rebate when you purchase your first Unit Trust via Citibank Online (min. investment amount of S$5,000).

Fee waivers

  • Perpetual annual fee waiver on your HSBC Advance Visa Platinum principal and supplementary credit card(s).
  • Unlimited HSBC Advance cheque book usage.
  • Annual fee waiver on selected Citibank Credit Cards with a minimum annual spend of S$18,000.
  • Fee waiver on first cheque book issued upon account opening.

Banking Abroad

  • Global view of all your HSBC accounts worldwide and make instant transfers between all eligible accounts.
  • Up to US$10,000 emergency cash when overseas.
  • HSBC's home and Away privilege programme also offers all HSBC credit cardholders with an array of fabulous privileges around the world, with over 27,000 outlets in more than 160 countries and territories.
  • Free transfers between eligible Citi accounts globally and instantly.
  •  Up to US$5,000 emergency cash when overseas.
  • Shop and dine with over 4,000 offers by Citi World Privileges.

Foreign Exchange

  • HSBC FX Order Watch enables you to set your own target foreign exchange rate to convert funds automatically within your banking accounts, and/or to receive an alert when your target rate is reached. 
  • N/A

Financial Planning

  • HSBC's Advance Managers to help you plan for your financial goals and banking/borrowing needs.
  • Citi's Personal Bankers to provide financial advice and support.

To find out more about HSBC Advance, visit HSBC Advance.