Compare Gold Investment Account in Malaysia

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 investment (Gold Investment Account) and physical gold investment.

What’s the best gold investment account in Malaysia? I have studied the Gold Investment account from Maybank, Public Bank, CIMB and UOB.

  • CIMB Bank Gold Deposit Account (GDA)
  • Maybank Gold Saving Passbook Account (GSPA)
  • Public Bank the Gold Investment Account (GIA)
  • UOB the Gold Saving Account (GSA)

gold account comparison
Gold Account Camparison:

Account
CIMB Bank
Public Bank
UOB
Min Initial Deposit1 grams5 grams20 grams
Min Subsequent
Transaction
1 gram &
multiple of 1 gram
1 grams &
multiple of 1 gram
Multiple of 5 grams
Min Balance1 gram2 grams10 grams
Cash WithdrawalYesYesYes
Physical Gold
withdrawal
YesYesYes
Charge on
Physical Withdrawal
based on the Bank’s prevailing gold BUYING price quoted in RM per grambased on the Bank’s prevailing gold BUYING price quoted in RM per gramYes
Annual FeesRM5 if year end balance <10 gramsRM10 if year end balance <10 gramsRM2 if month end balance <10 grams
Price Spread
per gram*
~ RM5.60 (4.3%)~RM5.18 (3.9%)~ RM3.30 (2.5%)
Selling Buying PricesCIMBPublic BankUOB
WebsiteCIMB BankPublic Bank WebUOB Website

2nd update: 4 June 2012
3rd update: 24 August 2012
4th update: 7 December 2013

How to choose the best gold account? From the chart, we know that the price spread per gram of UOB Gold Saving Account just RM2 (1.2%), the least among the four banks.

Price Spread per gram = Buying Price – Selling Price





{ 7 comments… read them below or add one }

Maxloon120

Obviously UOB is better, but i go for Maybank.

Reply

Mister Leaf

Oh, why you choose Maybank? The “Price Spread per gram” is highest among banks in Malaysia.

Reply

Nicholas

may i know uob got provide internet service for gold acc?

Reply

凉凉LiangLiang

As i know, UOB bank have update their latest gold price in their website.
http://www1.uob.com.my/jsp/finance/fin_gia.jsp?func=moneyrate?keepThis=true&TB_iframe=true&width=500&height=400

But, for any buying or selling, you have to visit your nearest UOB Branch.

Reply

Nicholas

Thanks~!

Reply

xueen

can i know how to see the buying price and selling price?

Reply

MisterLeaf

You can click the link in the table. Example, click the Buying Selling Prices column of each bank.

Reply

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