Where to Store Gold in Singapore: Vaults, Safe Deposit Boxes and What They Cost
Dealer vaults, bank and private safe deposit boxes and home storage, with each provider's published fees. Provider pages checked 11 Nov 2026; any fee that isn't published is marked as such.
The options at a glance
| Option | Who holds the gold | How the fee works | Insurance (as the providers describe it) |
|---|---|---|---|
| Dealer vault storage | The dealer's vault, in your name | A percentage of the metal's value per year, plus withdrawal and audit fees | Included at BullionStar and Silver Bullion |
| Bank safe deposit box | You, in a box at a branch | Flat yearly rent by box size | Not mentioned on the DBS, BOC, OCBC or UOB pages we read |
| Private vault box | You, in a box at a private facility | Flat rent by size (yearly or monthly) | Certis and STARVAULT: not insured. The Reserve and The Safe House: liability cover included |
| Home | You | No storage fee | Only what your own policy covers |
Dealer vault storage (allocated, insured)
You buy from the dealer or move metal in and the dealer keeps it in its vault in your name. You pay a percentage of the value each year and a fee when you take the metal out.
- BullionStar (vault storage, Singapore)
- Storage, gold bullion products: 0.39% a year, worked out daily on the metal's mid-spot price. Charges are invoiced on 1 March each year, or when you sell or withdraw, whichever comes first. The schedule is marked effective 1 October 2022.
- Minimum: a daily minimum fee of SGD 0.19 per storage jurisdiction, charged when the calculated daily fee is lower.
- Withdrawal: SGD 129 per instance for bullion products (other than BSP grams). Customer audit of your bullion in the vault: SGD 500 per instance.
- How to withdraw: through your online account, either shipped to you or collected at the vault by appointment.
- Insurance: all risks at full replacement value, placed by Marsh and underwritten at Lloyd's of London.
- Allocation: stored apart from BullionStar's own stock, with serial-numbered items you own individually identifiable. BullionStar describes this as allocated and segregated storage with direct legal ownership.
- GST on the storage fee: not stated on the fee schedule.
- Silver Bullion (S.T.A.R. Storage)
- Storage, gold: 0.35% a year standard rate, 0.30% once your holdings reach 10,000 storage points and 0.25% above 50,000 points. Gold counts 10 points per troy ounce.
- The fee is based on the spot price locked in when you order (and again at renewal). You can prepay up to five years, and unused prepaid fees are refunded if the parcel is sold or delivered early.
- Withdrawal: SGD 100 per parcel at Millenia Walk or at The Reserve. Delivery within Singapore (up to 500 kg) is SGD 400 per trip.
- Physical parcel audit: SGD 400 for the first two hours, then SGD 200 for each extra hour.
- Minimum storage fee: not published on the Schedule of Charges.
- Insurance and ownership: metals are segregated into uniquely identified parcels that are audited and insured, and clients hold legal title. The vaults are operated by The Safe House inside The Reserve.
- GoldSilver Central (GSC Bullion Storage Program)
- Fees, minimums, insurance and withdrawal terms: not verified. Our checker got a 403 bot-check page from the provider's storage page and FAQ, and we don't get around those, so no figures are shown here. Check the provider's page yourself.
Worked example, a year of storage at a fixed gold value (our arithmetic, using the published rates above; the gold value is an example, not a price):
| Gold stored | BullionStar, 0.39% a year (daily minimum SGD 0.19) | Silver Bullion S.T.A.R., 0.35% standard rate |
|---|---|---|
| S$20,000 | S$78.00 | S$70.00 |
| S$100,000 | S$390.00 | S$350.00 |
Bank safe deposit boxes
A box at a branch, rented by size. You hold one key and the bank's procedures control access. Most banks want you to keep an account with them and box availability varies by branch.
- DBS / POSB safe deposit box
- Annual rental, including GST: X-Small (3" x 5" x 24") S$190.75, Small (3" x 10" x 24") S$261.60, Medium (5" x 10" x 24") S$359.70, Large (10" x 10" x 24") S$501.40.
- Eligibility: at least 21 years old, with a DBS Savings Plus, DBS Autosave, DBS Current or POSB Savings account and a Singapore residential address. Boxes are at nine branches, from Plaza Singapura and Raffles Place to Choa Chu Kang and Parkway Parade.
- Insurance of box contents, key deposit and access hours: not stated on the page.
- Bank of China (Singapore) safe deposit box
- Annual rental, including GST: Extra Small S$163.50, Small S$218.00, Medium S$327.00, Large S$436.00, Extra Large S$872.00. Private vault: S$4,905.00. Sizes vary by branch. (Pricing guide dated 11/2025.)
- Key deposit: S$150 (normal box) or S$300 (private vault). Overdue rental: S$20. Loss of one key: S$163.50; loss of two keys or break-open: S$272.50.
- Eligibility and access: you need a BOC Singapore savings or current account and must be above 21. Rental is paid yearly in advance. Boxes have dual locks, one key held by you and one by the bank, and you can get to your box during banking hours.
- Insurance of box contents: not stated on the page.
- OCBC safe deposit box (Premier Banking)
- Annual fee: listed as a 20% discount on the standard annual fee for Premier Banking customers. The standard annual fee itself isn't published in this document (effective 31 December 2025).
- Key deposit (refundable): S$330. Late payment: S$20.
- Insurance of box contents: not stated in the document.
- UOB safe deposit box
- Annual rental: not published. UOB's fee sheet (updated as of 15 May 2026) says to call its hotline, 1800 222 2121, for rental charges and availability.
- Key deposit: S$100, refunded when you return the keys. Loss of one key: S$100; two keys: S$250 (both excluding GST).
- Insurance of box contents: not stated on the fee sheet.
Private vaults and safe deposit box operators
Private operators rent boxes outside the banks, often with longer hours. But read what each one says about insurance, because they differ quite a lot.
- Certis safe deposit boxes
- Annual rates, personal accounts, before GST (GIRO / non-GIRO): X-Small $159 / $259, Small $239 / $339, Medium $319 / $419, Large $499 / $599, X-Large $819 / $919. Prices are subject to prevailing GST, effective 1 September 2025.
- Weight limits: 4 kg for Extra Small, Small and Medium; 8 kg for Large and Extra Large.
- Minimum: one year, auto-renewed every contract year.
- Insurance: Certis says it does not insure the items in your box and suggests you speak to your own insurer.
- Changes: upgrading the box size is free, a downgrade costs $100; adding or amending licensees after the complimentary ones costs $75 per change. Only registered licensees and mandatees can open the box, with ID.
- STARVAULT (automated vault, Chai Chee)
- Small box (83 x 235 x 325 mm): S$60 a month on the monthly plan (minimum one month), S$36 a month on a 1-year prepay plan, S$30 a month on a 3-year prepay plan.
- Medium box (152 x 235 x 325 mm): S$110, S$66 and S$55 a month on the same three plans.
- One-time administrative fee S$100 and a refundable security deposit of S$200. Each box takes up to 25 kg. The price page doesn't say whether GST is included.
- Insurance: STARVAULT does not insure box contents; you arrange your own cover.
- Access and exit: 24/7 access once registered. To end the rental you book a move-out appointment and fill in its Move-Out Form; STARVAULT recommends at least 7 days' notice.
- The Reserve safe deposit boxes
- Annual rental: not published on the safe deposit box page. You reserve and pay online, then complete ID and proof-of-address checks.
- Six sizes from XS to XXL, with maximum loads from 8 kg to 32 kg. Access 8 am to 8 pm daily, by appointment; after-hours access needs 24 hours' notice and costs extra.
- Cover: default liability protection of SGD 10,000 (XS to M) and SGD 20,000 (L to XXL), according to The Reserve's own article dated 19 December 2024. Extra cover can be added for each SGD 10,000, up to SGD 500,000; the price of that cover isn't published.
- The Safe House safe deposit boxes (via Silver Bullion)
- Class II box (for gold; up to 15.6 kg or 500 troy oz): S$1,280.00 a year, including USD 200,000 liability protection. Class I box (for silver; up to 202 kg): S$1,600.00 a year, including USD 50,000 liability protection. Prices include 9% GST.
- New tamper-evident seal after each opening: S$25.00. Extra liability protection: S$25.00 a year per additional USD 10,000.
- What the cover applies to: only investment-grade bullion declared to vault staff. Other valuables can be stored but aren't covered.
Home storage
There's no storage fee and you can get to your gold any time. The trade-off is that theft, loss and fire are your problem, and the cover is only what your own home or valuables policy gives you. Policies can set limits for valuables, bullion or cash, so check the wording or ask your insurer before you rely on it. We haven't reviewed insurers' policies for this article.
If you hold “paper gold” such as a bank gold account instead of bars, there's nothing physical to store. Those accounts are covered in our where to buy gold guide.
What MAS announced on 10 November 2026
- MAS launched a central bank gold vaulting service for foreign central banks, international financial institutions and sovereign entities. MAS will also offer gold custody accounts to select Singapore-based bullion banks.
- The gold is held in Singapore's national currency vault, which can store up to 500 tonnes, with room to expand. MAS describes the custody as allocated.
- MAS and the Ministry of Finance will extend the GST waiver to specified wholesale IPM-related services between institutional participants covered by the framework, such as vaulting, refining or recasting, assaying and broking. It's expected to take effect from April 2027, with details at Budget 2027.
- The SGX over-the-counter gold clearing system has finished industry testing; live trading is expected in 1Q 2027. SGX's physically deliverable Gold Kilobar Futures is targeted for 2Q 2027.
- The Straits Times adds that the service complements Singapore's commercial vaulting capacity of more than 2,000 tonnes, which serves bullion banks, institutional investors and high-net-worth individuals. It names the six clearing banks as DBS, Deutsche Bank, ICBC Standard Bank, JPMorgan, OCBC and UOB, and reports that DPM Gan Kim Yong did not name the central banks that have shown interest.
Does it change anything for retail buyers?
Not directly. The MAS release names only central banks, international financial institutions, sovereign entities and selected bullion banks as users of the service, and it says nothing about individuals. So you can't put your own bars in the MAS vault. And the new GST waiver covers wholesale services between institutional participants and only from April 2027, and the release doesn't say it reaches retail storage fees. Physical investment-grade gold is already GST-exempt (see the FAQ).
What it does show is the direction of travel. A national vault, a gold clearing system in 2027 and an SGX kilobar futures contract are all aimed at making Singapore a bigger gold trading centre. Whether that eventually feeds through to retail prices or storage fees is not something the release says, and we won't guess.
FAQ
Is gold GST-free in Singapore?
Investment precious metals (IPM) are. IRAS says the import and local supply of IPM is exempt from GST. For a gold bar, ingot or wafer to count, it must be at least 99.5% pure, made by a refiner on the current or former LBMA Good Delivery list (or endorsed by Enterprise Singapore), carry an internationally accepted quality mark and not be a decorative or collector's piece. IPM coins are judged on similar criteria. Jewellery, bars with a hole or hanger, and odd-shaped bars are not IPM, so GST applies to them.
Is there GST on gold storage fees?
The exemption covers the metal, not the service. IRAS's IPM guide gives a local storage fee as an example of an expense on which a dealer incurs GST. On the pages we read, The Safe House box prices include 9% GST and Certis prices are subject to GST; BullionStar's fee schedule doesn't say. The wholesale GST waiver MAS announced is for institutional participants, from April 2027.
What do allocated, unallocated and segregated mean?
In Silver Bullion's definitions, unallocated means there's only a pool of bullion on the provider's balance sheet, so legally you're an unsecured creditor rather than an owner. Allocated means the provider matches clients' claims with physical metal. Segregated means specific, uniquely identified bars or parcels are held for you, with title passed to you by invoice. Silver Bullion also notes these words are often used loosely, so read how each provider actually stores and records your metal.
Are the contents of a safe deposit box insured?
It depends on the provider. Certis and STARVAULT say they don't insure box contents. The bank pages we read (DBS, Bank of China, OCBC, UOB) don't mention insurance. The Safe House boxes include liability protection for declared bullion, and The Reserve's boxes come with default liability protection. If your gold sits in a box or at home, the cover is whatever your own insurance policy gives you.
Can I store my gold in the MAS national vault?
No. The service is for foreign central banks, international financial institutions and sovereign entities, with custody accounts for select Singapore-based bullion banks.
Sources
- www.mas.gov.sg/news/media-releases/2026/mas-central-bank-gold-vaulting-services-enhanced-t
- www.straitstimes.com/business/spore-opens-national-currency-vault-to-foreign-central-banks
- www.bullionstar.com/help/vault-feeschedule
- www.bullionstar.com/vault-storage-singapore/
- www.bullionstar.com/help/vault-insurance
- www.bullionstar.com/help/vault-allocation
- www.silverbullion.com.sg/Info/ScheduleOfCharges
- www.silverbullion.com.sg/STAR
- www.silverbullion.com.sg/info/safe-deposit-box-singapore
- www.goldsilvercentral.com.sg/gsc-bullion-storage-program/
- www.goldsilvercentral.com.sg/gscbullionstorageprogram-3/faq/
- www.dbs.com.sg/personal/branch-services/safe-deposit-box
- www.bankofchina.com/sg/pbservice/pbo/201704/t20170428_9412273.html
- pic.bankofchina.com/bocappd/singapore/202511/P020251103650304002918.pdf
- www.ocbc.com/iwov-resources/sg/ocbc/premier/pdf/premier-banking-fees-and-charges.pdf
- www.uob.com.sg/web-resources/personal/pdf/personal/save/chequeing/one-account/fees-and-cha
- www.certisgroup.com/solutions/safe-deposit-box/box-sizes-and-charges/
- www.certisgroup.com/solutions/safe-deposit-box/faq/
- www.starvault.com.sg/price
- www.starvault.com.sg/faq
- thereserve.sg/safe-deposit-boxes
- thereserve.sg/articles/best-offshore-safe-deposit-boxes-at-the-reserve-in-singapore
- www.iras.gov.sg/taxes/goods-services-tax-(gst)/charging-gst-(output-tax)/when-is-gst-not-c
- www.iras.gov.sg/media/docs/default-source/e-tax/gst-guide-on-exemption-of-investment-preci
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