Previously, I told you all that there are two main types of gold investment? Do you all still remember how to buy gold?
Yes, paper gold (Gold Investment Account) and physical gold. We can go any bank to ask about the gold account or gold saving account. Buy 5 grams or 10 grams and get some experience. You can try to get some gold coins like Kijang Emas from Maybank too. For CIMB Gold account, you can buy and sell via CIMB clicks or CIMB branch OTC (Over-The-Counter), the price is bit different.
What’s the best gold investment account in Malaysia? I have studied the Gold account from Maybank, Public Bank, CIMB and UOB.
- CIMB Bank Gold Investment Account (GIA)
- Maybank Gold Investment Account (MGIA)
- Public Bank Gold Investment Account (GIA)
- UOB Gold Saving Account (GSA)
Gold Account Camparison:
| Account | CIMB Bank | Maybank | Public Bank | UOB |
|---|---|---|---|---|
| Min Initial Deposit | 1 gram | 1 gram | 5 grams | 20 grams |
| Min Subsequent Transaction | 1 gram & multiple of 1 gram | in multiple of 1 gram | 1 grams & multiple of 1 gram | Minimum 5 grams |
| Min Balance | 1 gram | 1 gram | 2 grams | 10 grams |
| Cash Withdrawal | Yes | Yes | Yes | Yes |
| Physical Gold withdrawal | No | No | No | Yes |
| Annual Fees | RM5 if year end balance <5 grams | Unknown | RM10 if year end balance <10 grams | RM2 if month end balance <10 grams |
| Price Spread per gram* | ~ RM15 (9%) | ~ RM6.18 (3.8%) | ~RM6.23 (3.8%) | ~ RM4.10 (2.5%) |
| Selling Buying Prices | CIMB | Maybank | Public Bank | UOB |
| Website | CIMB Bank Web | Maybank Website | Public Bank Web | UOB Website |
Update: Sep 2018
How to choose the best gold account? From the chart, we know that the price spread per gram of UOB Gold Saving Account just RM 4.10 (2.5%), the least among the four banks.
Price Spread per gram = Selling Price – Buying Price
Selling Price = Bank sell gold to us
Buying Price = Bank buy gold from us
The post 4 Gold Investment Account by CIMB, Maybank, PB and UOB [Comparison] appeared first on MisterLeaf.