Citi Plus 1 Year Anniversary: Increased Interest Rates Of Up To 4.0% p.a. And Up To S$150 Sign-Up Promo!
This article is brought to you by Citibank. All views expressed in the article are the independent opinions of Sethisfy.com. Read Sethisfy.com’s editorial policy.
Citi Plus is turning one year old! To celebrate its first birthday, Citibank has increased the rates of the Citi Interest Booster Account. Coupled with the attractive sign-up promo provided by SingSaver, it is a birthday anniversary Citi Plus is sharing with everyone.
S$50 for account opening, S$100 or Sony WF-C700N upon account funding
By starting a relationship with Citi Plus, in other words, opening an account, you can get S$50 in cash transferred to you via PayNow through SingSaver! That’s a nice deal on its own, but you can also get more rewards by funding the account.
You have 2 months from the account opening to deposit S$20,000 into the account. Thereafter, maintain the funds for at least 4 months till month 6, and you can choose to either receive another S$100 or Sony WF-C700N wireless earphones! The earphones retail for S$199 and it’s a great gift for someone special… which could always be yourself 😉
Note that you need to make the choice while applying for the bank account. After applying for the account, remember to fill out the SingSaver rewards redemption form to secure your sign-up gift. No form means no reward!
Citi
Interest Booster Account
Until 29th February 2024
| Activity | Reward | |
| Apply for Citi Plus Interest Booster Account and fill up SingSaver form in email ⚠️ no form, no reward | S$50 cash (fulfilled by SingSaver)¹ | |
| Deposit minimum S$20,000 in fresh funds within 2 months of account opening and maintain until Month 6 | Additional S$100 Cash or an TP-Link Smart Tapo RV10 Lite Robot Vacuum (worth $259) (fulfilled by SingSaver)¹ | |
| Upon opening an account and funding S$20,000 in fresh funds. | S$30 cash reward from Citi² | |
| Holding a valid primary/main Citi Credit Card | Extra S$30 bonus card reward from Citi² | |
| Base interest of the account (no salary, spend etc. requirement) | 1.5% p.a. up to the first S$50,000 deposit | |
| Total: S$210 + interest | ||
For reference only. Terms and conditions apply (save a copy for your own future reference):
Note that there is an early closure fee of S$50 if account is closed within 6 months but fall-below fees are waived until 31 December 2024.
Increased interest rates (up to 4.0% p.a.)
On top of the sign-up rewards, the birthday celebration continues with increased rates. The base interest of Citi Interest Booster Account has been upsized from 0.3% p.a. to 1.5% p.a.
You can also get more interest when you complete different criteria:
| Criteria | Interest Rate |
| Base Interest | 1.5% p.a. on first S$50,000 savings |
| Save Increase your balance by S$1,500 or more | 0.2% p.a. on incremental savings |
| Spend Spend a minimum of S$500 on eligible retail transactions | 0.2% p.a. |
| Invest Make 3 investments of S$1,000 or more | 0.6% p.a. |
| Insure Policy of minimum S$5,000 regular premium | 0.6% p.a. |
| Mortgage Home loan of at least S$500,000 | 0.8% p.a. |
| Birthday Extra interest in the month of your birthday! | 0.1% p.a. |
| Total Possible | 4.0% p.a. |
Even if you do nothing, the base interest of 1.5% p.a. is still much higher than quite a few savings accounts without meeting any conditions (e.g. salary crediting, fresh funds etc). This means that you will get around S$100 of interest simply by depositing S$20,000 for 4 months. It’s a decent return when combined with the sign-up offer.
Boosted 2% cashback with Citi Cash Back+ Mastercard®
Citi Plus also synergises with the Citi Cash Back + Mastercard®. With Citi Plus, Citi Cash Back+ Card gives an enhanced 2% cashback instead of the card’s usual 1.6% rate (cashback is capped at S$120). This boosted rate kicks in when you spend at least S$500 on eligible retail spending every month for a period of 12 months.
The 2% bonus cashback is capped at S$2,000 monthly, which is good enough for most large purchases. 2% isn’t the highest rate when it comes to cashback cards of course, but it is relatively fuss-free with very few category exclusions. Without many conditions apart from a usual list of excluded transactions, it could prove useful depending on the situation.
Moreover, when you reach S$500 of spend, you also unlock the Spend bonus of the Citi Interest Booster Account. That provides an additional 0.2% p.a. boost to the first S$50,000 balance within the account.
Here’s to another year
So, there you have it, folks – Citi Plus is now a year older and a little more grown- up. The base interest rate is bigger too and you get sweet sign-up gifts for signing up as if it were your own birthday.
Don’t forget to check out the terms and conditions while signing up, and here’s looking forward to more updates that Citibank will bring us over the next year!
Seth Wee was a licensed financial adviser representative from 2009 to 2025, with over 16 years of experience in Singapore’s financial advisory industry.
He started Sethisfy.com in 2019 to share practical insights on credit cards, banking products, and miles strategies, helping readers identify financial products that deliver the best value. Seth has been featured in CNA, Channel 8, Today, and a host of other publications. In 2025, he was also part of a panel at CPF’s Ready For Life festival.
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