Opening a bank gold account is the most popular deposit product in our country. Gold account is divided into two as time and demand. Gold account opening transactions can be done either from mobile banking, online or from a bank.
What is Gold Account?
The gold account is that citizens use their savings for gold, a precious metal. These people make their investments by depositing their gold in banks or by purchasing gold from the bank. Gold account can be opened by depositing jewelry types such as quarters or grams in banks, as well as for money on the axis of instant exchange rates. Although it varies from bank to bank, it is generally opened with at least 10 grams of gold.
Current Gold Account
You can perform your gold trading business without paying income tax or any other expense. A certain interest rate is applied on golds in proportion to the selected maturity rate. Profit is made with this interest. Opening a bank gold account is a very easy process. If you want to open a gold account from a bank you are a customer of, it is easy to do this. You can easily open any gold account you want using mobile banking, internet banking, ATM, branch, telephone branch.
Opening a Gold Account from a Bank You Are Not A Client Of
If you want to open a gold account from a bank that you are not a customer of, you must go to the branch to do so. After preparing the necessary documents when going to the branch, you can open the account you want by going to the branch.
If you want to open a gold account from the bank you will be a new customer of;
• Original identity card
• Residence address
• Contact number are required documents.
After submitting these documents to the bank from which you will receive the gold account, you will need to sign a few contracts. It will be for your benefit to read the contracts and get information from the bank employee where necessary. Once the contracts are signed, you will now have a bank gold account.
What Are The Advantages Of Opening Gold Accounts From Banks?
When opening a gold account from a bank, the most suitable investment method is gram gold. The reason for this is that there is no workmanship in gold and there is no distinction such as old and new dated gold, just like gold quarter gold. Investing your gold in maturity also causes additional interest income.
- Axis bank
- Citi bank
How to Close a Bank Gold Account?
If you intend to close your gold account, you must first convert your gold into any currency. After this transaction, you can turn it off via ATM, branch, telephone branch, internet banking. However, when closing the time deposit account, you should be careful not to apply interest on the maturity date.