Gold Savings Account
Singapore Savings Account Rates presents Gold Savings Account. This is the Gold Savings Account of UOB bank, where you create a gold savings account by buying gold and selling gold.
Gold Savings Account rates are shown for your information about financial investments in Singapore. Before you invest money or put cash in financial products or financial investments like stocks, shares, bonds, unit trusts, money markets or other banking products, you ought to confirm these savings account rates with financial institution or bank firm concerned.
Gold Savings Account (Unit=S$/gm)
Bank Sells = 56.98
Bank Buys = 56.88
as on 7 October 2010
For Gold Savings Account, there is no interest rate paid out on the account. You make your 'interest' by buying gold at low price and selling gold at higher price.
On top of that, there are charges of this Gold Savings Account.
An administrative fee (in grams of gold) as low as 0.12 gm per month or 0.25% p.a. on the highest balance per month, whichever is higher.
The Gold Savings Account fee is subjected to GST, which will be deducted from your account in grams of gold also.
An administrative charge of $30 for the closure of the Gold Savings Account within 6 months. The fee is subjected to GST.
Value of the gold investments and administrative fees can go up or down, depending on the fluctuations in international and/or local gold markets and foreign exchange market.
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