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% |