14th October 2025 - 4 min read
Maybank Islamic Berhad has launched the Maybank Islamic Gold Account-i (MIGA-i), a Shariah-compliant product that allows Malaysians to invest in gold easily without the worry of storing it or keeping it safe. The account lets customers buy gold with 999.9 purity, trade it online at real-time prices, and redeem it later as physical gold bars.
MIGA-i follows Islamic finance principles where every gold transaction is backed by physical assets, ownership transfers are immediate, and customers can choose to have their gold safely stored by an appointed agent. The structure ensures full transparency and compliance with Shariah requirements while giving investors control over how they buy, sell, and redeem their gold.
The account is open to individuals aged 18 and above, joint account holders of up to four people, guardians opening an In-Trust Account for minors, and sole proprietors. Non-Malaysian residents may also apply over the counter, except those from sanctioned countries.
To open an account, customers must hold a Maybank or Maybank Islamic Current or Savings Account (CASA). The minimum initial purchase is RM10 or its equivalent in gold value for individuals, while sole proprietors must start with at least RM50.
All transactions are conducted in Ringgit and can be made online via Maybank2u between 8:30 a.m. and 11:59 p.m. daily, including weekends and public holidays. Customers can redeem their gold in physical form with denominations ranging from one gram to one kilogram.
Redemption can be done through self-collection at selected Maybank branches, courier delivery of up to 100 grams, or special delivery for up to 3,000 grams. Redemption fees range from RM25 for a one-gram bar to RM1,450 for a one-kilogram bar, depending on size. Courier and special delivery options include additional handling and insurance charges.
Maybank does not directly store customers’ gold, but account holders can appoint the bank as an agent to arrange safe storage through a certified vault service provider. An agent fee of up to 0.5% per annum, based on the average gold balance, may be applied. However, Maybank is currently waiving this fee until further notice.
If a customer does not pay the agent fee for three consecutive months, the bank will issue reminders and may sell part of the gold balance to recover the outstanding amount, crediting any remaining proceeds into the customer’s CASA.
MIGA-i offers features that make managing gold investments simple and convenient. Customers can view live gold prices, place automatic buy or sell orders at preferred prices, and transfer gold between MIGA-i accounts without any fees. Transfers are allowed up to a total daily value of RM50,000 based on the bank’s prevailing buy price.
Customers with at least 100 grams of gold in their account will also receive notifications when their profit reaches 10 percent of the average purchase price. All transactions and account management can be done through Maybank2u, making gold trading as easy as online banking.
As with all investments, MIGA-i carries market-related risks. Gold prices can fluctuate depending on global and local economic conditions, investor sentiment, and currency movements. These changes may affect potential returns, which are not guaranteed. Customers are advised to consider their financial goals and risk tolerance before investing.
Customers can close their MIGA-i account by selling their gold back to Maybank or transferring it to another MIGA-i account. Maybank also buys back physical gold bars that have been redeemed from the bank, subject to verification. Proceeds from the sale are credited in Ringgit Malaysia to the customer’s CASA.
Follow us on our official WhatsApp channel for the latest money tips and updates.
Samuel writes about personal finance and financial news, focusing on how banking updates, policies, and promotions affect everyday money decisions. He enjoys making complicated financial topics easier to follow. Outside of writing, he spends his time watching TV shows and occasionally convincing himself he will only watch one episode.
Comments (0)