Silver Bullion announces the launch of the new Silver Grams Savings program
PRESS RELEASE
For Immediate Release
27 July 2023
Following the successful release of its S.T.A.R. Gold Grams, Silver Bullion Pte Ltd ( www.silverbullion.com.sg ) is pleased to announce the addition of a new S.T.A.R. Silver Grams option to the company’s S.T.A.R. Grams savings accounts.
As with Silver Bullion’s S.T.A.R. Gold Grams, S.T.A.R. Silver Grams represent fractional holdings of fully insured and allocated investment grade bullion stored in Silver Bullion’s vault. Besides gold, account holders will now also be able to buy and sell silver in exact amounts of silver grams or for exact amounts of dollars; directly through the website.
S.T.A.R. Savings account holders will be able to buy Silver Grams in quantities as low as 10g, at 5% above the internationally-traded silver spot price. Purchases can be paid for using existing cash balances in the account or via a credit card. Similar to Gold Grams, there is a maximum daily limit of S$200,000 for purchases and sales of Silver Grams.
Sales will be valued at the internationally-traded silver spot price, with no additional sell-back fee. Existing customers can even use the returns from their sales to offset fees for other Silver Bullion products or services, thus giving clients greater flexibility when dealing with their returns.
Silver Bullion founder Gregor Gregersen shares: “We introduced S.T.A.R. Silver Grams to offer our customers a convenient way to save in silver regularly. With the option of redeeming physical silver bars and coins, it is an excellent way for our bullion buyers to begin accumulating physical bullion.”
S.T.A.R. silver holdings will be stored safely in Silver Bullion’s vault, The Safe House, under full insurance, with an annual storage fee of 0.7% (Calculated daily based on the closing spot price and charged on sale or monthly with a minimum annual storage fee based on 10g).
Conversion of S.T.A.R. Silver Grams into physical silver can be done at the account holder’s convenience via Silver Bullion’s website with collection at the company’s bullion shop at the Millenia Walk Mall in Singapore. For withdrawal of cash to the bank account on file, requests within Singapore will be handled within one working day. (*International withdrawals to be advised due to the additional processing time.)
About the company
Silver Bullion was founded in Singapore. The company provides segregated ownership of physical gold, silver, platinum, nickel, and other metals while minimizing storage, counterparty, and jurisdictional risks in a manner that traditional financial institutions cannot.
It stores bullion in its own high-security, ISO 9001-certified vault, housed in The Reserve – an 180,000 square foot building that’s purpose-built and owned by Silver Bullion. The company also has its own non-destructive precious metals testing methodology to verify the bullion stored and a P2P lending platform that allows owners of precious metals to borrow against their stored gold and silver, from other customers of Silver Bullion who hold fiat currency.
Media Contact:
Vincent Tie
+65 6100 3040
[email protected]
