An investment account that lets you make deposits and withdrawals in gold based on daily gold prices at any Maybank branch
- Minimum deposit: 5gm
- Trading unit: Minimum 5gms in multiples of 1gm
- Fineness: 999.9 gold
Benefits
- Convenience of deposit, withdrawal and closing of GSPA account at any Maybank branch in Malaysia
- Introduced by the country’s largest bank, 100% backed by physical gold and in collaboration with the World Gold Council
- Cheaper as gold prices quoted are pegged to international gold prices without additional charges
- Ability to build a personal gold portfolio by purchasing gold in small amounts (minimum 5gms) regularly over a period of time
- Opportunity for capital gain if the price of gold appreciates
- Possible hedge against inflation
- Easy access to account details and transaction history via Maybank2u.com for GSPA individual / joint account holders with Maybank2u.com access.
Who can apply
- Individuals
- Joint account – maximum 4 persons
How it works
The Gold Savings Passbook Account (GSPA) is an account that lets you invest in gold in a convenient, more secure and cheaper way. You can purchase gold in 999.9 fineness at all Maybank branches at daily quoted gold prices for 1gm in Malaysian Ringgit. All transactions will be recorded in your GSPA passbook.
Whenever you need to, you may conveniently withdraw from the GSPA at the prevailing gold price in the following ways:
- Physical gold: Gold Wafers @ 10, 20, and 50 can be withdrawn at selected branches. A conversion charge to cover the shipping and insurance will be charged for the physical gold withdrawal
- Cash: The amount of gold holdings can be converted to Ringgit Malaysia at the prevailing market price. The amount in RM will be credited into your Maybank deposit account
View today’s gold rates
Fees & charges
Withdrawal of physical gold is subject to conversion charge to cover shipping and insurance. The fee varies and depends on the total physical gold to be withdrawn.
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