Hi, i am new to investment thingy. For the last few months I have resorted ways of positioning my savings into an investment, from FD to forex. Until recently i had decided to abort the FD and recreate an account for E-FD so to ease my deposit.

Upon cancelling the FD, i was approached by a banker who mentions about equity funds that provide more interest than current FD in a short period of 3 years. I was interested so have decided to sign up for this.

Any expert care to shed some light about this? I wont mind to bleed as the result of this as i still have some basic savings each month.

It is important for you to find out whether the so-called "more interest than current FD" is guaranteed? If yes then by who and is it written black and white.

As far as I know equity fund don't give interest. They give you distribution (depends on how well they are doing).

what did u sign up for exactly?

What is this Maybank Premier Wealth thingy? what kinda equity fund is it?

yeah it earn more that FD

worth it bro

Of course more
...but u could lose ur money too

Premier wealth is for preferred customers right? How did they plan your wealth for u lol

Minimum deposit with MBB need 250k.

Did u sign up for that too? How does it goes?

I was provided with a list of funds that i can invest in, among them i had chosen
1) Etiqa Ins: PREMIER INCOME FUND - 50% allocated, 3yrs, 13.53% return, medium risk
2) Etiqa Ins: DANA EKUITI PRIMA - 50% allocated, 3yrs, 39.78% return, high risk

Upon maturity, the invested amount along with % return is credited into ur bank account.

This post has been edited by Fork: Apr 20 2014, 02:56 PM

Any unit trust, equity fund do not guarantee any return rate for future.

Those are past performance data, which do not guarantee future will be the same, better or worst.

One can lose money in equities unit trust as well, if market condition is not favourable.

Premier Wealth in MBB is a kind of "product" or "service" offered for Private Banking customers. You will need to have 250K in deposit or 1M in loan & deposits. Basically you will be assigned a Relationship Manager to take care of your well-being.

Similar services like CIMB Preferred, HSBC Premier..

looks like some Insurance+Investment mix product only

Ya...I signed up yesterday primarily because I don't have to wait in queue anymore at MBB. All you need is to show your PW card to information and you get to jump queue. Worth it? Definitely.

I never believe all these insurance linked investments...

It also depends on which MBB branch you signed up. Not all are good - I am hitting out on the SS2 branch. The one at Bandar Puteri is OK.

Did you get a gift when you signed up?
I signed up with the Medan Tuanku branch. Didn't really planned to do so but was up there visiting my friend the branch manager for other businesses and he bloody forced me to sign up.
I think I just got suckered big time.

Never used a debit card before and tried it at a petrol kiosk today. When I checked my online transaction, the bloody card deducted RM200 from it. Ya, I know they hold back a certain amount becos it is a debit card. My question is how long do they hold it and will this happen everytime I pump in petrol? Even if I pump in twice a day???

This post has been edited by GI Jie: Jul 24 2014, 11:33 PM

Invest yourself via fundsupermart.
Lower sales charge.

This post has been edited by yw46: Jul 25 2014, 09:30 AM

I didn't get any gift when upgraded to Premier Wealth

Hardly any benefit though, other than being able to skip the queue. But sometimes the counter isn't manned so you end up waiting any (Desa Parkcity branch)

Nope, I get nothing because I was from their Private Banking (which is rebranded to Premier Wealth) so nothing

Oooh , didn't know this.

I'll have to see if can still request for free gift.

Took them months to sort out my debit card as well

Which Debit card did they issue you? I think you posted last time was the Aspire one right? (maybe was someone else, not sure..)

No idea what the difference is between Aspire / PW

Ah, I see. Yeah I have the PW debit card and current acc, although not used either.

4% Promo, sounds tempting

Wasn't aware there's any promotion on PW/Aspire for FD, need to take a look

I'll wait until August , see if anything new.

RO Player,

1) The bank reimbursed my MYR200 two days later and not on the same day or following day.
2) The PW card they issued you is not a dummy card. Yes, there isn't your name on it but it is a real and genuine USEABLE debit card. Keep it safe if you aren't gonna use it.
3) The bank interest rate for the PW account is much higher than normal interest rates. It is actually their normal FD rates, that is if you keep your minimum balance above MYR250K.

Does anyone have any link of the brochure for this so call 3 years savings plan Maybank Premier Wealth?

I tried searching Maybank website but can't find anything other than it referring to being a Premier Wealth Customer.

Call me an idiot, but Insurance is always meant for protection.

Actually, the interest paid is way higher than the normal passbook account. I have double (in my PBB account) what I had in the MBB PW account and still the MBB PW account paid double what I got from the PBB account.

However the MBB PW online transaction statement is like shit. It is actually at least a day late. Sometimes my transactions won't show online until 2 days later. I charged my G-Hotel Penang bill on Sunday noon and it didn't show until late Tuesday evening whereas my PBB online transactions were immediate.

Has there been any review or discussion here about the insurance linked funds they are pushing? What are advantages/disadvantages?

This is what I was trying to find out

bail out of it. dont put your money on something so insecure. remember why FD was good? because we got nothing to be scared of. How bout your current investment?

Right now my account is being deducted monthly of rm500 for this investment linked fund, supposed that fd requires min 1k per month, i m still saving another rm300~500 per month.

The rest of my salary is for food and travel and etc expenditure.

its a bad move sir. tell us more about what do you expect from this investment you made?

Mind sharing what is wrong with my move?

okay now. so if fd costs you more less 1k, while you just need to spend 500 ringgit on this new investments, which you assume you did save another 300-500, what did you do with the said money? did you simply put them in the bank? because if you do, then isnt it better to make another investment, a new account perhaps similar with the new 500 investments you made?

if you dont put them in the bank, you dint save anything. you just have more money to spend, thats all. there is nothing wrong for both situations but yes, you might want to avoid thinking "i did save 300-500"...

investments comes with a risk. no risk investment, we call them fixed deposit. thats all. even buying a house as investment was a risk. who knows the gov decided to put your area as not safe area, then your house will worth less like 10% for that reason. its a risk.

so why do I ask you to bail out of the investments? You can do a lot of things with your money. A lot. sell some stuff. do some easy business. if you are up for such investments, cut the middle man. do it yourself. you know, lots of people keep paying so called financial consultant for 500 ringgit per session, just so they got someone else to tell them how to manage their own money. you? what do you have to decide.

I've got no ties or connections for starting my own business. What can you expect from me? Or do you have something to offer? :

Btw, I just need to get enough savings before I can get my hands into biz. No point putting all the $$ in starting a biz if your bank statement is 0. Just that it's too risky to start a biz without a proper savings.

I'm just waiting until the investment fund gets matured after 3 years. In the mean time, I will keep on accumulating my savings. Whether it's a loss or not, at least I had my effort put in this investment fund.

And also 3 year period is a long time, there could be other opportunity out there so I can further utilize my savings.

P/S: If not for my savings, I could have run into trouble fixing my car, my house and other unexpected expenditures.

Keep this thread open for 3 years and report back whether you get what has been promised.

Of course I am skeptical as always about insurance savings plans

So, as we wondered earlier, is the Etiqa Dana Equity Fund sold from MBB one of these insurance savings plans?

Bumping up this tread... no recommendations ?

better?


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Bro... What is the Auto call level and trigger lever percentage means?

something like this i guess,

https://www.hsbc.com.my/1/PA_ES_Content_Mgm...s/home/628.html


if not mistaken its citi prods

I dont think I have that amount to qualify but usually I straight went to PW section and they didnt ask for the PW card...and I keep quiet...and they do for me...

that PW card someone told me annual fee is Rm500.00
wow...that is a lot

I don't have that card, but they allow me to do in their PW section, maybe they chin chai and close one eye, just a simple transaction only...

Don't think the PW card has any annual fee - never been charged for it anyway.

oh...really ?? what they told me Maybank PW will charge but they will call in and waive for you...that is what they told me, maybe New regulation cos I ask last week only...

that's why I dont think it is useful for me....besides, even I dont have that card, they still attend me...hehehe

rules has change, Maybank staff told me need to open a current ac with Rm10k, they will provide you a cheque book ( which I dont use ), and a debit card.

Yeah, was the same for me. Current AC with 10k, 1k ia blocked (minimum balance) , PW debit card but I asked them not to give me the cheque book - I never use cheques anymore!

ya loh ya loh , honestly...I am not even qualify for it, but they allow me to use their facility....normal transaction....hehehe

Not very useful anyhow, all normal transactions I do online anyway - PW or not no difference. FDs I have are Islamic ones which are available to any customer, and I'm not interested in the investment products they offer

true...I have to agree with you brother....but they recommend investment in BOND, Hwang DBS

Bond Fund you mean?

yes brother, it is Bond Fund...4.75%

what they told me to apply is this one.. Premier Wealth Debit CardPW card

I agree RO player...thanks for sharing....I have declined many times...NOT worth it....

Private wealth need 2 million usd right?????

That's priority banking

If got 6 bil called what... ?

Satu Malaysia

Nj*s banking...

I wonder if there required minimum amounts will be increased due to depreciating RM vs USD

They do reserved the rights to amend the TnC, but still list a minimum of RM 250k AUM

The maybank officer offered AMB dividend trust fund with 1% service charge for min 50k. Is it good deal? How many % of SC if I do it through share trading ie cimb or maybank online?

Thanks

Useless fund. Better fund exist. You can get at 1.75%. No need RM50k from FSM.

Thanks Ramjade for your prompt reply.

Edit : ignore. Realised I was quoting a year old question.

This post has been edited by rjb123: Jul 8 2017, 04:33 AM