Features 

Description 

a) Account Type and Customer Eligibility 

Individual 

1. 18 years old and above 

2. Teen (13 years old to 17 years old) 

b) Minimum Initial Purchase and Subsequent Purchase 

c) Gold Purity 
 

Physical gold bar with 999.9 purity, accredited by London Bullion Market Association (LBMA) 

d) Currency 
 

Malaysian Ringgit (“MYR”) 

e) Principal Investment 

Principal investment is not guaranteed. 

f) Dividend 

Non-dividend bearing account. 

g) Transactional Account Requirement 

It is compulsory to have a Bank's Current Account-i or Saving Account-i or Investment Account-i (CASAIA) before you can open the Bank Rakyat eGold Account-i account to facilitate the following transactions : 

1. The Bank will debit or credit the amount from your CASAIA to execute your buy and sell gold transactions. 

2. The Bank will debit any applicable fees and charges from your CASAIA. 

h) Methods to Open & Close Account, Buy, Sell, Transfer & Convert  

Through online banking via iRakyat. 

i) Gold Conversion 

You have the option to convert your gold ownership in the Bank Rakyat eGold Account-i account into physical gold bar in the denominations as per below:  

• 0.5 gram 

• 1 gram 

• 5 grams 

• 10 grams 

• 50 grams 

• 100 grams 

• 4.25 grams 

• 21.25 grams 

j) Gold Conversion Channel 

You have the option to convert the physical gold bar via:  

Note:  

For courier services, you need to pay a delivery charges in addition to gold conversion charges. 

k) Physical Gold brand for Conversion 
 

• Istanbul Gold Refinery (IGR) brand accredited by London Bullion Market Association (LBMA)* 

• NADIR METAL RAFiNERi (NADIR) brand accredited by London Bullion Market Association (LBMA)* 

• Go Minted Gold Bar (Go) brand accredited by SIRIM. 

* Subject to the availability of the brands in stock at the time of delivery by the gold vendor or its agent. 

l) Gold Transfer (in grams only) 
 

You are allowed to transfer your available gold balance in your Bank Rakyat eGold Account-i account to another Bank Rakyat eGold Account-i account registered under a third-party individual account holder. Transfer is subject to a maximum gold value of up to RM50,000 per day based on the prevailing Bank buy price. 

However, the gold transfer feature will only be made available upon notification by the Bank and is subject to the terms and conditions governing the Bank Rakyat eGold Account-i 

m) Selling and Buying of Gold Price 
 

1. The selling and buying prices will be quoted daily from 8:30a.m to 11:59p.m in Malaysian Ringgit (MYR) by the Bank based on live pricing. 

2. The selling price denotes the price at which the Bank sells the gold to you. 

3. The buying price denotes the price at which the Bank buys the gold from you. 

4. The selling and buying prices are displayed on iRakyat. 

5. Since the Bank offers a real-time market prices, the actual Bank buying price or selling prices will be determined when the respective transaction is performed. 

n) Operating Hours for Gold Transaction 
 

For online banking via iRakyat, a gold transaction can be performed from 8:30 am to 11:59 pm every day including weekends and public holiday. 
 

o) Minimum Balance (in grams) 

There is no minimum account balance. 

p) Safekeeping of the Physical Gold Bar 
 

The Bank will: 

1. Safekeep your purchased gold in a security vault provided by an established service provider, and - 

2. Maintain all the records provided by the service provider related to your gold; 

3. Debit your CASAIA and pay storage fee to the security vault service provider. The Bank reserves the right to waive the fees at its discretion. 

4. Make any claims to the service provider in the event of any negligent act or omission by the service provider; and 

5. To assign and re-assign the physical gold bar serial number for you. 

q) Gold Conversion Charges 
 

Note: 

The gold conversion charges are imposed by the gold vendor. 

r) Delivery Charges 

Note: 

1. All delivery will be made by the gold vendor or its agents and will be made to your last registered mailing address and information, including name of beneficiaries and contact number stated in iRakyat unless stated otherwise in writing to the Bank. 

2. The delivery services charges are imposed by the gold vendor appointed by the Bank.