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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:

AccountCIMB BankPublic BankUOB
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





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