New Citigold offer: S$400 Takashimaya vouchers and up to S$7,476 in joining bonuses

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Apply for a Citigold account with a min. deposit of S$250K and get S$400 Taka vouchers (no min. maintenance period), plus further cash gifts.

From now till 28 November 2021, new-to-bank customers who open a Citigold account through SingSaver will be eligible to receive S$400 of Takashimaya vouchers. 

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In addition to this, they’ll also be able to earn additional cash rewards of up to S$7,476 from Citibank, including:

  • S$300 for opening their account online
  • S$300 for depositing S$250K in funds (which you need for the SingSaver gift anyway)
  • S$300 for holding a principal Citibank credit card. 

SingSaver Gift: S$400 Takashimaya vouchers

New-to-bank customers who apply for a Citigold account through SingSaver by 28 November 2021 (with account opened by 28 December 2021) will receive S$400 Takashimaya vouchers

They will be required to deposit a minimum of S$250,000 in fresh funds in a Citi Wealth First Account within 3 months of account opening.

Month of Account Opening Deposit min. S$250K AUM in fresh funds
1-30 Nov 2021 By 31 Jan 2022
1-31 Dec 2021 By 28 Feb 2022

There is no minimum maintenance period, but the funds must be in your account as of the dates in the table above. For example, if you open your account in November 2021, it must reflect a S$250,000 balance from fresh funds as of 31 January 2022. You can top up the amount anytime before that date. 

⚠️ Who is considered new-to-bank?
“New-to-Bank” refers to a Citi Customer who fulfills the following criteria:

  • is not a U.S. Person;
  • is at least the age of 18 during the Enrolment Month;
  • does not have a primary Banking Account or primary relationship in each of the last thirteen (13) calendar months before the Enrolment Month;
  • does not have any AUM in each of the last thirteen (13) calendar months before the Enrolment Month; and
  • opens a primary sole Banking Account or a primary joint Banking Account with a person who does not have any Banking Account/ relationship with Citi

For the avoidance of doubt, holding a Citibank credit card or personal loan will not disqualify you from “new-to-bank” status

The T&Cs of this offer can be found here.

Application Steps

Here’s the steps to take note of. 

  1. Apply through any of the links in this article
  2. You will be directed to a SingSaver landing page. Enter your email address and click “confirm”
  3. Complete your application and take a screenshot of the Application Reference Number (for Citibank, it’s 12 alphanumeric characters)
  4. Fill in the SingSaver rewards form that will be sent to your email within 14 days of bank account application. It’s vital you fill in the form- no form, no reward. 

The gift will be fulfilled within three calendar months. If you have not received any correspondence by this time, contact [email protected] for assistance. 

Citibank Gift: Up to S$7,476 welcome bonus

On top of the SingSaver offer, Citibank is running a promotion of its own for new Citigold customers, which is valid for accounts opened by 31 December 2021. 

New Citigold customers can earn further cash rewards from Citibank by completing certain actions as shown below: 

Click to enlarge

For a better understanding of how the investment and insurance bonuses are calculated, do refer to the T&Cs. 

All customers must complete an Investment Risk Profile with their Relationship Manager. Beyond this, you can pick and choose which of the above tasks you wish to complete. For instance, a new-to-bank customer who applies online (applying via SingSaver would qualify), deposits S$250,000 in fresh funds and holds any principal credit card would already receive an extra S$900 in cash.

As a reminder, Citigold customers also earn a relationship bonus of 5-30% on any credit card points earned through the Citi Prestige Card. I’ve explained how that works in this post, but to summarise, here’s the impact on how many miles per dollar you earn. 

  Regular 0-5 Years 6-10 Years >10 Years
Local Spend 1.3 mpd 1.36 mpd 1.38 mpd 1.42 mpd
Overseas Spend 2 mpd 2.06 mpd 2.08 mpd 2.12 mpd

Even a brand new Citigold customer would already be earning 1.36 mpd on all local currency spending with the Citi Prestige, one of the higher earning rates on the market.

Conclusion

Sign Up for CitiGold

If you’ve been thinking about opening a Citigold account, this is an opportunity to stack an additional free gift on top of Citibank’s regular offers. Don’t forget to apply by 28 November 2021 (your account opening date can be up till 28 December 2021) and fill out your rewards form as soon as you receive it via email.

Aaron Wong
Aaron founded The Milelion to help people travel better for less and impress chiobu. He was 50% successful.

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