What are the charges for maintaining a SSA?

Monthly service charges on the SSA are payable. The monthly service charges are charged in ounces of silver.

The service charge for SSA is the higher of:

  • 0.2 ounces of silver per month; or
  • 0.375% per annum on the highest silver balance recorded in your SSA 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 10 ounces of silver throughout a year, the service charge would be the higher of:

    - 0.2 x 12 = 2.4 ounces; or

    - 0.00375 x 10 = 0.0375 ounces.

    This means that the annual service charge for 10 ounces would be 2.4 ounces of silver. GST chargeable on the service charge would be 0.168 ounces.

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

    - 0.2 x 12 = 2.4 ounces; or

    - 0.00375 x 1000 = 3.75 ounces.

    This means that the annual service charge for 1,000 ounces would be 3.75 ounces of silver. GST chargeable on the service charge would be 0.2625 ounces.

More help More help

Need more help from us?

Contact our support team and we will get back to you promptly.

Contact Us