The United Overseas Bank, or UOB, was incorporated on 6 August 1935 as the first Chinese bank in Asia. It’s now one of Singapore’s leading financial institutions, with branches all over Malaysia and Thailand, among other places. UOB’s principal banking subsidiaries in the region are United Overseas Bank (Malaysia), United Overseas Bank (Thailand), PT Bank UOB Indonesia and United Overseas Bank (China).
Gold investments allow individuals to buy gold without physical assets, and they are perfect for the person who wants to diversify their portfolio. Only certain banks offer this service, but it is worth looking into if you have an additional source of wealth!
Individuals at 18 years and above on the application date are allowed to open a Gold Investment Account.
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.
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).
Differential between the physical gold price and PGA/GSA price + processing fee
Account opening requirement:
The investor is required to maintain either a savings account or current account in MYR to facilitate payment for purchases, collection of sales proceeds and debiting of fees
Visit the nearest UOB branch or contact the 24-hour UOB Call Centre:
Maintain either a Savings or Current Account with the bank to facilitate payment for purchases, collection of sales proceeds, and debiting of fees under the GSA
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!
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.
The difference between a bank’s selling price and buying price for gold investments account. For example, you get gold at RM245, and the bank repurchases it at RM235. The buy-sell spread is RM10 (RM245 minus RM235).
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