Friday, October 22, 2010

Gold Investment Account at UOB

For us, Malaysian who are not so rich to buy gold bullion from United States Gold Bureau, we can always invest in gold in the form of gold investment savings account. Besides MBB and PBB, you can now open a gold investment savings account at UOB too. However, there is pro and cons investing with UOB. The pro is the difference between buying and selling prices is low; it is only RM2 compared to the other 2 banks. The cons are, the minimum subsequent purchase is 5g until the other 2 banks which only requires 1g. All 3 banks requires you to have a savings or current account with them before opening the gold investment account. At UOB the minimum amount required to open a savings account is RM2k and that amount cannot be touched. At anytime if the amount in your savings account is less than RM2k, you will be charged administration fee. I think it is RM5 (or more) for each month! So, prepare at least RM5k if you want to open a gold account with UOB.

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