Maybank Gold Investment

About Maybank

Maybank, the largest company by market capitalisation on the Malaysian Bourse and one of Forbes Global 2000 leading companies, has been around for more than 50 years. It’s ranked first among listed Malaysian enterprises as well!

Maybank’s wide range of products and services means that they are your go-to for anything you need. Whether it be banking, investment, or Islamic needs, Maybanks got what You’re looking for!

What is a Gold Investment Account (GIA)?

The gold investment accounts allow you to invest in a certain amount of GOLD without having any physical assets. At present, only certain banks offer these types of investments, and they can be beneficial if your goal is more than just cash or shares on the stock market and you have some exposure to gold!

About Maybank Gold Investment Account

They allow individual customers/ companies to invest in 999.9 fine gold commodities at a daily price in Ringgit Malaysia (MYR) without the hassle of keeping physical gold
The returns on your investment are dependent on the gold price fluctuations

Why should I choose a Maybank gold investment account?

  • Potentially better returns
  • Portfolio diversification with gold
  • Better security
  • Better protection

Who can open a Maybank gold investment account?

  • Individual account
    • Individuals of all ages
    • For those below 18 years old, the account must be opened with a parent(s) or legal guardian as a trustee
  • Non-individual account
    • Joint account holders (up to 4 people), sole proprietors, partnerships, and companies

What do I need to know before opening a Maybank gold investment?

  • You need to have a savings or current account with the bank
  • You need to understand the risk of gold investing
  • The minimum initial purchases
  • The minimum balance in GIA
  • The fees you need to pay

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 Maybank gold investment account?

  • Individual account: 1 gram
  • Non-individual account: 50 grams

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

  • Individual
    • Stamp duty on Fee on Agreement: RM10
    • Replacement of lost/ spoilt passbook: RM15 (inclusive of RM10 stamp duty on Letter of Indemnity)
  • Companies
    • Stamp duty on Fee on Agreement: RM10
    • Replacement of lost/ spoilt passbook: N/A

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

  • You can purchase gold with your Maybank Debit and Credit Card at all Maybank branches. However, no TreatPoints can be collected from these purchases
  • For non-individual account holders, please head to the nearest branch to make your transactions

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 RM210, and the bank repurchases it at RM200. The buy-sell spread is RM10 (RM210 minus RM200).