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Frequently Asked Questions

Gold Account

GOLD Account is an account which allows customers to buy/ sell Gold

Individual and Business Customers are eligible.

No.

No. There is no interest paid on the GOLD Account.

Yes company accounts are eligible for GOLD Account.

Only through Buy and Sell options on Digital Banking.

No.

It will be as per the RAKBANK rates.

It will take 3 working days if request taken before cut off time and Friday will be a holiday. Customers to be advised to collect four days after acceptance of the redemption request

Branch will hold the physical gold, however, custody charges are applied every month for gold uncollected from the Branch over 1 month.

Oud Metha Branch (SBC) in Dubai and Al Jazeera Branch in Abu Dhabi.

10 grams minimum and 5 kg maximum.

Customer will put in a redemption request (online or offline). Physical gold can be collected at the chosen branch after 4 days.

No fees for buying and selling gold. For redemption charges please refer to S&P.

Customers can submit an offline form or apply online for redemption. They will receive SMS for collection.

No cut-off timings. Gold can be bought or sold 24/7.

Yes.