What are the charges for maintaining a GSA?

Monthly service charges on the GSA are payable. The monthly service charges are charged in grams of gold. The service charge for GSA is the higher of:

  • 0.12 grams of gold per month; or
  • 0.25% per annum on the highest gold balance recorded in your GSA in a calendar month.

The service charges will be accrued monthly and debited from the account annually at the end of the year or upon closure of the account. For account closure, the service charges would be calculated on a pro-rata basis. GST on the service charge is applicable.

For Illustration purpose only:

  • If you are holding on to 100 grams of gold throughout a year, the service charge would be the higher of:

    - 0.12grams x 12 = 1.44 grams; or

    - 0.0025 x 100grams = 0.25 grams.

    This means that the annual service charge for 100 grams would be 1.44 grams of gold. GST chargeable on the service charge would be 0.1008 grams.

  • If you are holding on to 1,000 grams of gold throughout a year, the service charge would be the higher of:

    - 0.12grams x 12 = 1.44 grams; or

    - 0.0025 x 1,000 = 2.50 grams.

    This means that the annual service charge for 1,000 grams would be 2.50 grams of gold. GST chargeable on the service charge would be 0.175 grams.

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