A UOB Gold Savings Account lets you buy gold in grams through the bank without taking delivery, from a minimum of 5 grams. As at November 2026, UOB charges 0.25% a year on the balance plus GST from 1 April 2026, allows the account to be funded with CPF savings, and lets you convert non-CPF balances into 100 g bars for a fee.
UOB also sells gold bars and coins over the counter. As a bank regulated by MAS, it is exempt from registering as a dealer under the Precious Stones and Precious Metals Act, so it does not appear on the Ministry of Law’s dealer list. UOB states that its gold is not a deposit and is not insured under the Deposit Insurance Scheme. Gold prices can fall as well as rise; past performance is not a guide; gold pays no interest.
How the UOB Gold Savings Account Works
You buy and sell gold at UOB’s quoted prices and the balance is held in grams. UOB says there is no GST on buying or selling gold through the account. You need an existing UOB Singapore account and must be at least 18.
The account is one of the routes in our guide to how to buy gold in Singapore. UOB’s own disclosure is plain: gold “provides no dividend yield or interest”, so prices must rise for you to make money.
UOB Gold Charges as at November 2026
| Item | Charge |
|---|---|
| Minimum purchase and balance | 5 g |
| Service charge (from 1 April 2026) | 0.25% a year on the highest balance each month, plus GST, debited in grams |
| Early closure within 6 months | S$30 plus GST |
| Conversion to a 100 g cast bar | S$100 per bar; at least 105 g needed first |
| CPF purchases | Extra 3 cents per gram |
| Buying or selling gold in the account | No GST |
A note on the service charge. UOB’s page describes the 0.25% charge from 1 April 2026, but another section still shows the older rule (the higher of 0.12 g a month or 0.25% a year). Under the old rule, small balances paid much more. Ask UOB which applies to your account before you open one.
The short version: a low-minimum way to own gold in grams with no storage of your own, but you pay the bank’s buy-sell gap, a yearly charge, and you can only sell back to UOB.
Using CPF Savings
CPF Board’s list of CPFIS products allows up to 10% of investible Ordinary Account savings in gold, and directs gold savings accounts and physical gold to UOB. Special Account savings cannot be used. UOB adds 3 cents per gram on CPF purchases, and CPF-bought gold cannot be converted into bars. Our guide to using CPF or SRS for gold sets out the limits, and the 2.5% guaranteed OA rate any gold holding has to beat.
UOB Gold Bars and Coins
UOB sells physical bars and coins. Bars are collected at the Main Branch Gold Counter, 80 Raffles Place, UOB Plaza 1, banking hall basement, strictly by appointment and within 10 working days.
Selling back is restricted. UOB accepts coins and bars “originally bought from UOB Singapore or OUB Singapore”, with the UOB seal intact and proof of purchase. Gold bought on or after 1 March 2025 can be sold back only by UOB current or savings account holders. A UOB bar is therefore harder to sell elsewhere at a good price than an unrestricted bar; see how to sell gold in Singapore.
Worked Example: S$10,000 in the Account for a Year
Our own numbers, using UOB’s published charges from 1 April 2026:
- Service charge: 0.25% of $10,000 is $25, plus 9% GST, about $27.25 a year, taken in grams.
- The buy-sell gap: UOB publishes daily buying and selling prices but not a spread percentage. Note both quotes on the same day and put them through the gold premium calculator.
- Converting to a bar: not possible at this size. At gold prices in November 2026, 105 g costs well over $10,000.
Over five years the service charge alone comes to about $136 on a steady $10,000, before any price change.
Drawbacks and Who It Does Not Suit
- Sell back only to UOB. You cannot shop around when selling.
- Conversion is narrow: 100 g cast bars only, $100 each, non-CPF balances only, by appointment.
- Conflicting charge information on UOB’s own page.
- Not insured under the Deposit Insurance Scheme.
It does not suit someone who wants to hold coins or small bars at home, or who wants to sell to the highest bidder. Alternatives include a registered dealer such as BullionStar, and SGX-listed gold ETFs, compared in our SPDR Gold Shares review.
What To Do Next
- Ask UOB to confirm the service charge that applies to your account in writing.
- Compare UOB’s buying and selling prices for the same day before you buy.
- If you plan to use CPF, check your investible savings and the 10% gold limit on the CPF website.
- Be wary of calls asking you to buy gold: UOB says bank officials will never ask you to buy gold over the phone. Read our guide to gold scams.
- Do your own due diligence. This review is general information, not a recommendation.
