MariBank now offers physical gold investing from S$1 through its new Mari Invest Gold product.

The service gives customers access to the LionGlobal Singapore Physical Gold Fund via a new unit class exclusive to MariBank users.

According to MariBank, it is the first digital bank in Singapore to offer access to a physical gold fund.

The product is offered through Class MariBank SGD Hedged (Acc) and is managed by Lion Global Investors. Standard Chartered Bank Singapore serves as the fund’s custodian and ensures the secure storage of the physical gold holdings.

The fund invests in physical gold bars with a minimum purity of 99.5 percent that are stored in secure vaults in Singapore and tracks the London Bullion Market Association Gold Price AM benchmark.

Mari Invest Gold adds to MariBank’s Mari Invest range launched in 2023, which also includes Mari Invest SavePlus and Mari Invest Income.

The bank said around 30 percent of its customers have taken up at least one investment product.

Both Mari Invest SavePlus and Mari Invest Income have recorded steady growth in user sign-ups and investment amounts.

“MariBank continues to identify new ways to meet our customers’ evolving financial needs. Our latest partnership with Lion Global Investors to launch Mari Invest Gold extends the timeless appeal of gold to a new generation of digital investors.

Together with Mari Invest SavePlus and Mari Invest Income, they form a comprehensive suite of investment products designed for everyone— from first timers to experienced investors,”

said Natalia Goh, Chief Executive Officer of MariBank.

Featured image: Edited by Fintech News Singapore, based on image by RSplaneta via Freepik