Unallocated metal accounts
The Russian Regional Development Bank offers to place free monetary funds in precious metals special accounts.
Investing in precious metals is a good alternative or supplement to regular deposits, including monetary deposits, for customers who want their savings to grow. World rates of precious metals have continued growing steadily even in the current unstable financial climate.
RRDB carries out transactions in unallocated metal accounts (UMA) for gold, silver, platinum and palladium. A client's unallocated precious metal is listed onto his/her UMA without specifying the ingot individual characteristics (name, number of bars, sample, producer, serial number, etc.)
Unallocated metal accounts are the easiest and most profitable way to invest in precious metals. Transactions are carried out without the precious metals ever leaving the bank vault. Transactions can therefore be carried out very quickly. As a result, customers can generate additional income by using the fluctuations of metal values even over short periods of time. When purchasing precious metals on an unallocated metal account, customers do not pay for metal storage and transportation. UMA allows selling and buying precious metals any time.
Purchase and sale price quotations of metals in an unallocated form are specified by the bank for each four types of metals depending on world prices for the corresponding metal.
The accounts operate in mode "on-demand". An unallocated metal account is opened for an indefinite period. This type of account does not accrue interests. VAT is not charged on the purchase of unallocated metals. 18% are thus saved in comparison with purchasing precious metals in ingots or manufactured articles. Moreover, no commissions are charged by RRDB when transactions are carried out on unallocated metal accounts.
This new service allowing placing funds in unallocated metal accounts is provided to both individual and corporate clients. The minimum amount of precious metal required to open a UMA is set at 300 g for gold, platinum and palladium, and 30,000 g for silver.
Transactions on unallocated metal accounts are carried out by RRDB offices in Moscow.
For further information, please contact
Corporate Business Department
Retail Business Department