Based on my survey, I noticed that Maybank offers the lowest entry barrier with a minimum deposit of 1g. Besides that, it also imposes the lowest minimum balance of 1g. In contrast, UOB requires the highest minimum initial deposit and balance although if offers the smallest spread.
Invest in gold can allow you to reap favorable returns from appreciations in gold prices. However, it will also come with risk and you need to evaluate it properly else you will make a loss if the price of gold plummets.
Comparison Between Gold Investment Accounts
Bank |
Terms |
Fees |
Trading Price |
Maybank |
Min deposit: 1g Subsequent min trading: 1g Min balance: 1g |
Stamp duty: RM10 | Spread: +/-4.13% |
CIMB |
Min deposit: 10g Subsequent min trading: 5g Min balance: 10g |
Conversion fee for withdrawal: RM1/g RM5 will be charges if the balance falls below 10g |
Spread: +/- 2.95% |
Public Bank |
Min deposit: 10g Subsequent min trading: 5g Min balance: 2g |
Stamp duty: RM10 will be charged if the balance falls below 10g at year end | Spread: +/-3.91% |
Kuwait Finance House |
Min deposit: 10g Subsequent min trading: 5g Min balance: 2g |
Nil | Spread: +/- 4.45% |
|
UOB (Premier Gold Account) |
Min deposit: 1kg Subsequent min trading 1kg Min balance: 1kg |
Monthly fee of RM2 will be charged if the balance falls below 1kg at the end of the month | Spread: +/-0.55% |
Gold Savings Account |
Min deposit: 20g Subsequent min trading 5g Min balance: 10g |
Spread: +/-1.1% |
I think the Gold Investment Account by UOB will only charge you RM2.00 if the balance is below 10gms.
RM2.00 charge if balance falls below 1kg is only applicable for Premier Gold Account.
http://www1.uob.com.my/business/GMIM/GMIM_pga.html
Hi, I have a Gold Investment Account with Maybank. So far, after starting the account few years back, I never have any transaction anymore. I am sorry to consult you on what is the meaning of the spread percentage indicated under your trading price column?