How to invest silver in Malaysia? You know where to buy, but if the hassle of keeping kilograms of physical silver bullion is a BIG NO for you, go for paper silver then. Finally, Maybank offers us the convenience – Maybank Silver Investment Account.
Personally, I prefer to invest in bank’s products rather than Genneva Malaysia, Public Gold, Bestino Group etc. Do you get me?
Maybank Silver Investment Account (MSIA)
Maybank is the first bank in the country to offer an alternative platform for investing silver via a passbook account, allowing purchases and sales in silver at a daily price quoted in RM at any of its branches nationwide.
Similar to the Maybank Gold Investment Account, a passbook will be given for recording transactions and maintenance purposes.
In other words, MSIA investors can conveniently buy or sell silver in their account, with the passbook at any Maybank in Malaysia without the hassle of keeping physical silver. Here are some of the important features:-
Maybank Silver Investment Account
|Minimum Initial Purchase||20 gram|
|Minimum Subsequent Purchase/Sale||10 gram in multiples of 1 gram|
|Minimum Balance in the Account||5 gram|
|Silver Purchase Price||- Silver purchase will be based on the Bank's prevailing silver SELLING price quoted in RM per gram |
- The mode of payment accepted for purchase of silver are: Cash, Debiting of current/savings account maintained with the bank, house cheque
|Silver Sale/Withdrawal||- Silver sale will be based on the Bank's prevailing silver BUYING price quoted in RM per gram|
- Withdrawal options available are: Cash, crediting of current/savings account maintained with the Bank
|Mode of Operation||Passbook|
|Interest||No interest payout|
|Stamp Duty Fee on Agreement||RM10|
|Replacement of Lost / Spoilt Passbook||RM15 (inclusive of Stamp Duty for Letter of Indemnity)|
To check silver price per gram, please visit http://www.maybank2u.com.my/