If you want to purchase and sell gold without the risk of you being in possession of physical gold, then Bank of China Gold Savings Account is ideal for you.
Features and Benefits of Bank of China Gold Savings Account:
- This account has two important components, which are:
- Gold Savings Account - Through this account, customers can invest and trade in gold.
- Gold Settlement Account - Through this account, customers can deposit funds and the settle all the transactions they had made using the Gold Savings Account.
- The minimum amount of purchase for each transaction is 5 grams.
- The application process of this account is very simple.
- Deposit Insurance Scheme - The Singapore Dollar deposits that have been made by non-bank depositors are protected by the SDIC (Singapore Deposit Insurance Corporation) for an aggregate of maximum S$50,000 per depositor per member of the Scheme.
- Singapore Citizens/Permanent Residents/Foreigners who have a work permit or employment pass with valid passport and ID proof are eligible to apply for this account.
- To apply for this account, you have to 21 years old and above.
Singapore Citizens/Permanent Residents have to bring their NRIC along with them when they visit the bank for the application process. Foreigners have to bring their employment pass, passport and address proof along with them to the bank.
How to Apply?
To apply for Bank of China Gold Savings Account, customers have to visit the nearest branch of Bank of China along with the required documents.