How to save gold in the bank

Nowadays, gold is not only the main ingredient of jewelry. Today, this precious metal is used for materials in other industries and as an investment tool.

It can be said that gold is the main member of the safe-haven asset class. or an investment tool that most people buy in times of crisis or high inflation. as it is considered a safe and profitable tool.

gold investment Can be done in many ways since purchase Gold bars and jewelryUntil recently bought this precious metal with savings. Today, there are many institutions that offer this gold savings service. including banking companies Here’s how to save gold in the bank, according to Investbro.

Why keep gold in the bank?

Before we talk about how to save gold in the bank. First, let’s talk about why you should save gold in this financial institution:

1. Buying gold is easy and cheap.

In the past, if you wanted to buy gold You need to prepare a silver equivalent to the price of this precious metal. For example, if the price of 24 karat gold per gram is Rp 800,000, And you want to buy a 24 karat gold necklace weighing 5 grams, you need to prepare 4,000,000 rupiah.

but with saving gold You can buy in advance, starting at IDR 10,000. Only when your savings is equal to 5 grams of gold, you can withdraw it as a necklace. Easy and cheap, right?

2. Able to settle accounts in physical form

As mentioned in the previous point Gold savings can be liquidated or exchanged for real gold. This usually applies if your savings amount is at least the price of 1 gram of gold when you sell it.

In addition to disbursement in the form of a necklace You can also disburse your savings in gold bullion or silver according to your needs and desires. Usually these savings are exchanged for gold bullion or jewelry accidentally produced by Antam, the best precious metal producer in Indonesia. in other words Saving this precious metal in the bank is like keeping Antam’s gold.

3. Easy to dissolve

Many banks and other institutions now qualify for gold savings to apply. The presence of this feature makes the process of buying and selling this precious metal possible anytime, anywhere.

Additionally, at this time, this precious metal has real-time prices that can be accessed through the application. with this price feature You can check when it’s time to buy and when it’s time to sell gold. to make you profit

as written above In general, this savings can be disbursed only if the content is equivalent to this 1 gram. You can withdraw your savings anytime, anywhere using the app.

4. Does not require storage space

One of the advantages of saving gold compared to buying real gold is that You don’t need storage space and save as much as you need. This definitely reduces the risk of physical theft.

5. The bank has strict control over financial institutions.

as a financial institution Banks not only act as institutions that send money to and from the public. It is also an institution to expand the monetary policy of Indonesian banks. Therefore, banking regulations in Indonesia are stricter than those of other financial institutions.

This means that the supervision of banking services in this country is very strict. Of course, this is a plus for those who want to invest using the services of a reliable financial institution.

How to save gold in the bank

1. Choose the right bank

Although it is a virtuous institution But you still have to choose the right bank for Antam Gold Savings in choosing this bank. You should consider the following factors:

• bank credibility. Choose a bank with good credibility such as Bank BCA, Bank Mandiri, BRI Bank or BNI Bank
• Facilities providedMany banks offer a gold savings feature for mobile banking applications such as Bank BSI Mobile. This feature is important because not all banks offer this.
• Minimum transaction volume and transaction feesThere are several companies that offer gold savings with a minimum value of Rp 5000, but there are also larger ones. In addition to the minimum transaction size You also need to consider costs, such as the account creation fee. admin fee and maintenance fees. The reason is that this cost element directly affects how much profit you will earn. And each bank has different fees.

Good banks often provide information about the information mentioned above through their official website.

2. Prepare documents

Here are some documents you need to provide to open a gold savings account:

• ID card Prepare a copy of this document if you open an offline gold account.
• NPWP (in some cases, if no NPWP is allowed But the risk is higher from VAT) Prepare a copy of this document if you open a gold account offline.
• telephone number. Make sure you don’t change your mobile number before withdrawing this gold savings. Because this number is required to send the OTP of the application. And the process of changing mobile phone numbers in the company’s database takes time.

3. Download the app

The next step is to download the application and or go to the nearest bank customer service. As mentioned above Not every bank has a mobile banking application that offers gold trading. Therefore, the customer will inevitably have to go to the bank’s customer service.

But the advantage of opening a gold account through customer service is that you can directly inquire about the advantages and details of this service at the bank through the customer service staff.

Tips for saving gold for profit in the bank

1. Select a bank that provides the application service.

The first trick is to save gold in a bank that offers selling and buying gold in a mobile banking application. Because one of the advantages of buying gold digitally is that you can see price movements in real time. This feature is not owned by banks that still offer offline gold trading.

2. Price tracking

Now, after you select the bank that provides the application Now is the time for you to monitor the price action. Note that there are two types of gold prices: the sell price (the price you get when you buy gold) and the buyback price. (The price you get when you sell back precious metals)

Usually the selling price is higher than the buyback price. Therefore, the challenge for investors who buy gold by saving money is to sell this precious metal when the repurchase price is greater than the total sale price. Therefore, you should keep track of the movement of gold prices in the application.

3. Record the selling price

So how to sell gold to get the repurchase price higher than the total selling price? The trick is to record the amount of money you spend and the gold you earn every time you save.

For example, this month you saved IDR 100,000 and received 0.1g of gold, next month you saved IDR 100,000 and received 0.09g of gold, so you should sell precious metals when the price is at least IDR 105,000 (obtained from (100,000+100,000)/( 0.1+0.09)

4. Up-to-date with the economic situation

In the first paragraph above Many people buy gold during bad economic conditions. (Economic recession high inflation, etc.), so gold prices tend to rise when the economy is sluggish. With the latest economic updates like this You’ll know when to replenish your stored gold and when to sell.