CIMB Gold Investment

About CIMB

CIMB Group, an ASEAN universal bank and one of the region’s foremost corporate advisors, is also a world leader in Islamic finance.

CIMB is a renowned financial institution based in Malaysia with headquarters located in Kuala Lumpur. They have been listed on the Main Market of Bursa Malaysia since 1987 and currently maintain a market capitalisation valued at RM47 billion as of 30 September 2021.

What is a Gold Investment Account (GIA)?

Gold accounts provide a safe way to invest in gold without having any physical assets. In some countries, only certain banks offer these types of investments. They can be beneficial if you want more diversity within your portfolio while maintaining stability through diversification with other investment products like stocks.

About CIMB Gold investment account

  • The CIMB Bank e-Gold Investment Account (“eGIA”) is an account that allows you to purchase 99.9% pure gold commodity at a daily price in Ringgit Malaysia (MYR) without the hassle of keeping the physical gold
  • The eGIA may be opened in the name of 1 or 2 individual(s) but shall not be more than 3 individual(s)at any time

Why should I choose a CIMB gold investment account?

  • The principal is not guaranteed
  • No interest is paid on the eGIA
  • Underlying asset: 99.9% pure gold commodity
  • Flexibility to buy and sell gold conveniently via CIMB Clicks

Who can open a CIMB gold investment account?

  • Individuals above 18 years old who are residents, permanent residents or non-residents
  • Minor under 18 years old (subject to account being operated by parents/ guardian)
  • Personal or joint account (maximum 3 persons’ names are allowed)

What are the risks of having a gold investment account?

  • Pricing risk
  • The price of gold will be determined by the Bank at its sole and absolute discretion. It considers all relevant factors, including world market conditions, local currency exchange rates between USD and MYR, and fineness levels.

  • Market risk
  • Your investment may be at risk if market conditions change. Although gold is considered one of the safest investments in the world, you’ll have no control over the profitability of your fund and could sustain losses as well!

  • Not protected by authorities
  • Gold investment account is not covered by Perbadanan Insurans Deposit Malaysia (PIDM).

What is the minimum purchase for a CIMB gold investment account?

  • Minimum initial purchase: 1 gram
  • Subsequent purchase or sale: Multiples of 1 gram

What are the standard fees of a CIMB gold investment account?

  • An annual service fee of RM5
  • A closing fee of RM10 should the eGIA be terminated within 6 months of opening

What is the process of opening a CIMB gold investment account?

  1. You can open an account through CIMB Clicks
  2. If you are an existing client, submit the Foreign Account Tax Compliance Act (FATCA) Declaration to proceed with the account opening
  3. If you are a new client, you need to open an account to purchase gold
  4. To make your life easier, click here for further details

What are the common terms of gold investment?

  • Minimum initial purchase
  • The amount of gold you need to start an investment account. It depends on the bank and type, but it can be as little as 1 gram or more!

  • Minimum balance
  • The minimum amount of gold needed to maintain your gold investment account.

  • Minimum subsequent purchase/ sale
  • The minimum amount of gold you must involve in any transactions when buying or selling via your gold investment account.

  • Buy-sell spread
  • The difference between a bank’s selling price and buying price for gold investments account. For example, you get gold at RM260, and the bank repurchases it at RM250. The buy-sell spread is RM10 (RM260 minus RM250).