SG banks see more younger Singaporeans climb wealth ladder as they start investing earlier in life

Summary

• DBS reported a threefold rise in the number of millennials entering its Treasures segment during the first half of 2026 compared with last year.

• OCBC said customers in their 20s moving into higher wealth tiers increased almost 50 per cent year on year.

• UOB found young investors aged 16 to 24 increased by more than 10 per cent in the year to April 2026.

SINGAPORE: Singapore’s younger adults are starting to invest earlier, and banks are taking notice.

The Business Times reported on Sep 8 that younger customers are moving into affluent banking tiers at faster rates. Banks linked the shift to better financial knowledge, easier access to investments and greater concern about long-term financial security.

DBS said millennials aged 30 to 42 entering its Treasures segment tripled in the first half of 2026 from the same period last year. Treasures clients have between S$350,000 and S$1.5 million in investable assets.

HSBC also recorded double-digit growth among clients aged 25 to 35 entering its Premier segment. This tier requires at least S$200,000 in assets under management.

OCBC saw an almost 50 per cent year-on-year increase among customers in their 20s moving into its Premier Banking and Premier Private Client tiers.

Young investors are putting their money to work early

The change goes beyond saving more money. Younger customers are also investing more regularly.

OCBC said wealth transactions made digitally by customers in their 20s rose almost 120 per cent year on year. DBS said investment balances among customers who entered Treasures in 2025 have since grown nearly sixfold.

Standard Chartered reported that total wealth assets under management among customers aged 30 to 45 rose 70 per cent between December 2024 and June 2026.

At UOB, customers aged 16 to 24 who started investing in the year to April 2026 increased by more than 10 per cent. Recurring digital unit trust transactions also rose by more than 10 per cent.

The change suggests that some young adults are choosing to start with smaller, regular investments rather than waiting until they have large savings.

Banks want relationships before wealth gets bigger

That choice has turned younger customers into an important target for Singapore’s banks.

Banks are expanding digital tools while keeping advisers involved for bigger financial decisions. UOB, for instance, allows young adults to invest regularly starting at S$100 per month through its app.

HSBC said 45 per cent of affluent Gen Z investors in Singapore prefer using artificial intelligence to discover investment ideas before seeking advice from an adviser.

Banks are also reaching younger people before they become affluent. OCBC engages students on university campuses and runs its GENesis programme for children of affluent customers.

The competition makes sense. A customer who starts investing at 20 may have decades ahead to build wealth.

Starting early doesn’t guarantee good investment choices, of course. But learning how to manage money before bigger sums arrive is probably one of the better habits a young investor can develop.