Best Private Banks in Singapore

The 5 Best Private Banks in Singapore

Are you on the lookout for a trustworthy bank to help you properly manage your wealth? If so, read on because we’re going to take a look at the best private banks in Singapore that can cater to high net-worth individuals.

Opening an account with the best private banks in Singapore is something that can’t be done by just anyone. Most financial institutions in Singapore that provide private banking have strict requirements that only the most affluent clients can meet.

However, if you believe that you have the financial resources to open a private banking account, then we’re here to help you narrow down your choices! We picked out the best private banks in Singapore that can help in the growth of your assets.

Before we move on to our picks, we want to share more information about the best private banks in Singapore that you may know yet and might find useful.

Let’s start, shall we?

What You Should Know About the Best Private Banks in Singapore

People have the notion that private banks are exclusive only to rich and affluent people… and to some extent, they’re right. But what makes private banking an attractive option for its target audience?

Private banks offer services such as investments, assets management, banking, and other financial services, all of which are catered towards the needs of wealthy people and their families.

What makes private banking different from regular banking is that there are personalised banking solutions provided for each client to help them achieve their financial goals. These types of services are very different from the services that regular savings accounts get.

Before we start with our list of the best private banks in Singapore, here are some of the things you should know about the best private banks in Singapore.

1.   Private banking isn’t the same as wealth management or priority banking

The best private banks in Singapore and wealth management firms offer similar services, but differ in the scope of their services.

Private banks provide wealthy clients with personalised services for managing and protecting their assets. If a client wants to see growth in his assets, then the best private banks in Singapore may offer them investment or insurance services.

On the other hand, wealth management firms focus more on the optimisation of a client’s portfolio to maximize the returns as much as possible. These firms usually don’t provide services offered by private banks such as wealth structuring, succession planning, family governance, and more.

Priority banking is very similar to private banking, but is considered a tier lower than the latter. Priority banking is offered to relatively well-off clients, but private banking offers more services, benefits, and privileges to clients who are considered as high net worth individuals.

2.   Private banks have a wide range of services

Private banking options offered by different financial institutions have different ranges of services. Furthermore, these services aren’t usually offered by regular banking services.

The best private banks in Singapore provide general financial planning, investment advice, wealth management, estate planning, lending, retirement planning, succession planning, and even family governance.

The services mentioned above are the most common services that private banks offer. So if you’re choosing a private bank, make sure it can at least provide more than half of these services.

It’s a good idea to ask the private bank you’re eyeing what makes them different from other private banks. This is a great way to know what other services or offers they have that you may not know about.

3.   Private banks come with exclusive benefits

Most private banks in Singapore target affluent individuals because doing so guarantees them regular clients and huge returns.

To keep these clients around, private banks usually provide them with attractive and exclusive benefits that will make it hard for them to say no to their services.

Some of the most common benefits are private transactions, discounted services, high investment returns, access to a wealth manager, better customer services, priority access, and more.

However, there are a few private banks that go out of the way to cater to the needs of their clients. Some even offer exclusive hedge funds, private equity partnerships, and travel perks such as access to airport lounges and luxury hotel discounts.

The best private banks in Singapore not only offer exclusive financial services, but also lifestyle benefits and rewards. You can rest assured that these banks will continue to come up with different ways to keep their clients satisfied and happy.

4.   Eligibility for private banks in Singapore

As mentioned earlier, the best private banks in Singapore can only offer their services to individuals who meet certain criteria. Specific requirements for eligibility differ from bank to bank, but it’s worth remembering that private banking is usually reserved for the affluent individuals.

To give you an idea whether you’re qualified or not, most private banks on the island require at least S$1 million up to S$7 million in investable assets.


The Best Private Banks in Singapore

Now that we’ve gone through the different features that private banking can offer, it’s time to check out our picks of the best private banks in Singapore!


1.   UOB Private Banking

UOB Private Banking's Homepage

BEST FOR  Regional and worldwide connections
SERVICES Investment products, succession planning, credit solutions, and portfolio management
PERKS Higher investment returns, access to a dedicated manager, and travel rewards and discounts
CONTACT DETAILS 1800 222 2121 or fill up this form

United Overseas Banking (UOB) is one of the most trusted banks in the world. The bank offers attractive banking services to some of the wealthiest individuals in Singapore, designed to provide clients with a warm sense of Asian hospitality.

United Overseas Banking’s investment approach is guided by three banking principles: Asset Allocation, Diversification, and Sustainable Returns. If you’re a serious investor, then you’re definitely going to like its private banking services.

One of its major private banking services is the complimentary consultation with senior client advisors about your investment portfolios. This makes UOB one of the best private banks in Singapore for long-term and experienced investors.

In terms of perks, United Overseas Banking doesn’t disappoint. Aside from the common benefits that come with private banking, clients are also entitled to regular travel rewards and discounts.

UOB Private Banking is an exclusive service offered to individuals with net worths of more than S$5 million. It has one of the highest requirements for a private bank in Singapore.


  • Ideal for serious investors
  • Travel perks and rewards
  • Innovative investment approach


2.   DBS Private Banking

DBS Private Banking's Homepage

BEST FOR  Easy and convenient access to assets
SERVICES Investment products, professional advisory, liquidity planning, philanthropy, succession planning, family legacy planning, and portfolio managements
PERKS Higher investment returns, travel privileges, overseas education, limousine services, worldwide healthcare privileges, property sourcing, and rental assistance
CONTACT DETAILS Fill up this form

Another private bank that is perfect for investors is the DBS Private Banking. As one of the most trusted banks in Singapore, Development Bank of Singapore (DBS) has proven its capability of going the extra mile to satisfy all of its clients.

For one, DBS Private Banking boasts a set of impressive investment products personalised to meet your long-term financial goals. It offers funds, equities, commodities, fixed income, and even treasury products.

Other services provided by DBS Private Banking are portfolio management, succession planning, liquidity planning, philanthropy, and even family legacy planning.

In addition, DBS Private Banking also has a long list of perks and benefits. Some of these are limousine services, overseas education, hotel room upgrades, airport lounge access, and worldwide healthcare privileges.

If you’re interested in opening an account with DBS Private Banking, you must have at least S$5 million in investable assets.


  • Multiple perks and benefits
  • Ideal for serious investors
  • 24-hour trading online
  • Overseas education for your children


3.   OCBC Premier Private Client

OCBC Premier Private Client's Homepage

BEST FOR  Easy and convenient management of assets
SERVICES Private advisory sessions, investment financing, investment seminars and webinars, and legacy planning
PERKS Banking privileges, preferential fees, airport lounge access, personal concierge service, and business clubs access
ELIGIBILITY S$1 million and qualify as an accredited investor
CONTACT DETAILS 1800 424 8888

OCBC Premier Private Client is known for housing some of the best financial specialists on the island who can cover a wide range of topics from insurance down to mortgage. It’s among the few private banks that regularly provide private advisory sessions with its teams of leading wealth management experts.

Staying ahead of your investment becomes possible with OCBC Premier Private Client as you will gain access to latest market advisories and exclusive investment recommendations from its wealth management team.

Another feature we love about the OCBC Premier Private Client is that it comes with an exclusive card called VOYAGE which allows clients to enjoy many lifestyle and travel privileges. It’s truly one of the best private banks in Singapore.

In terms of eligibility, OCBC Premier Private Client has one of the lowest investable assets requirements. Other private banks on the island would ask at least S$5 million, but OCBC only needs interested parties to have at least S$1 million in assets and be an accredited investor.


  • Exclusive VOYAGE card
  • Lower requirement of investable assets
  • Employs a team of experienced financial and wealth experts


4.   HSBC Private Banking

HSBC Private Banking's Homepage

BEST FOR  Family wealth management
SERVICES Wealth management, investment products, portfolio management and family legacy planning
PERKS Global investment opportunities, banking privileges, and lifestyle privileges
CONTACT DETAILS 1800 472 2669

If you’re looking for the best private banks in Singapore to help you secure your family’s future, then you might want to consider HSBC Private Banking. It’s a private bank known for working with multigenerational families around the world, helping preserve their wealth.

HSBC Private Banking is one of the best private banks in Singapore because it employs an experienced team of financial experts in family governance, wealth succession, legacy planning, and wealth structuring. Because of this, you can rest assured that your loved ones are in capable hands.

Aside from those services, HSBC also helps you connect with more trading and investment opportunities. It doesn’t offer many perks compared to other private banks, but it still offers a variety of attractive lifestyle and travel privileges.

For those who are interested in opening an account with HSBC Private Banking, you must have at least USD$5 million dollars in investable assets.


  • Experts in family wealth management
  • Travel and lifestyle privileges
  • Global investment opportunities


5.   Standard Chartered Priority Private

Standard Chartered Priority Private's Homepage

BEST FOR  Sophisticated lifestyle privileges
SERVICES Investment products, portfolio management, wealth management, and succession planning
PERKS Access to a senior relationship management team, preferential rates, exclusive seminar invitations, private concierge, airport lounge access, and airport limousine transfers
ELIGIBILITY S$1.5 million
CONTACT DETAILS 1800 472 2669

If you’re a person who travels frequently, Standard Chartered Priority Private is your best option. It comes with numerous travel and lifestyle rewards that will make your travels more convenient.

For one, you’re entitled to complimentary concierge services at more than 400 high-end restaurants all over the world. You are also entitled to airport limousine services to and from airports each year.

On top of that, you will also have unlimited access to over 1,000 airport lounges in more than 130 countries. It’s one of the few private banks that have this many travel privileges, making it one of the best private banks in Singapore for frequent travelers.

Aside from the privileges, Standard Chartered Priority Private also offers services to help you properly manage and increase your assets. Every client is entitled to a senior relationship management team that will help you with your investment and trade decisions.

Interested parties need to have at least $1.5 million in deposits or assets in order to qualify for the Standard Chartered Priority Private.


  • Multiple travel privileges
  • Preferential rates
  • Access to accredited investors


Which Is the Best Private Bank in Singapore for You?

UOB Private Banking S$5 million Serious investors
DBS Private Banking S$5 million Serious investors
OCBC Premier Private Client S$1 million Ordinary account holders
HSBC Banking USD$5 million Long-term investors and business owners
Standard Chartered Priority Private S$1.5 million Frequent travellers and social butterflies

If you’re an ordinary account holder who just wants the regular benefits of private banking, we recommend going for OCBC Premier Private Clients. It’s also the only private bank in our list that only requires S$1 million in assets to open an account.

OCBC Premier Private Clients may not offer a lot of services and benefits compared to other banks, but it can help you grow your assets through investments. Also, expect an experienced team of wealth management experts to help you with the process.

On the other hand, if trading and investing are important to you, it’s best to go with either UOB Private Banking or DBS Private Banking. Both of these private banks are designed with services to increase and protect your investments by focusing on investment products and portfolio management.

If your goal is to secure your family’s future, then we strongly recommend choosing HSBC Banking. It’s a private bank designed to help clients secure the future of their loved ones through wealth management and succession planning.

Lastly, for those who want to enjoy endless travel and lifestyle perks, there’s no better option than the Standard Chartered Priority Private.


And with that, we conclude our list of the best private banks in Singapore. If you’ve consulted with any of these banks in the past, share with us what your experience was like.

If you happen to know other Singaporean private banks worth checking, don’t hesitate to share them with us. If we find them worthy, we’ll definitely add them in here.

For more options, you might want to check out our list of the best priority banking in Singapore. Priority banking works like private banking, but with fewer services and lower asset requirements.