Maybank General Investment Account-i (GIA-i)

A Shariah-compliant investment account based on the contract of Mudarabah (profit sharing)
Minimum investment:
RM5,000 (1 month)
RM1,000 (2 months and above)

* Not covered by PIDM. Principal is not guaranteed

More info : Maybank eGIA-i



Layman explanation : This is an islamic investment instrument that practically function in between of SA and FD.

Eligibility:
i) Malaysian (irrespective of race/religion/gender) ***(for those who don't belong to this, refer to the website link above to find out your eligibility)
ii) Maybank2u online account
iii) At least RM 1,000.00

Steps to open new/place subsequent:
i) Log in to Maybank2u -> Accounts & Banking -> Fixed Deposits & Mudarabah IA

ii) Make a placement -> Product type select General Investment Account (GIA-i)

(Only for frist placement, fill in the questionaire, and proceed)

iii) Select your preferred tenure (practically doesn't matter except 1 month vs other months, explain later)

iv) Enter your principal amount and other options, then click Continue

v) Verify information and click Confirm

Step to uplift eGIA-i:
similar to how you uplift eFD.



Historical Profit Rate:
1st July 2015 - 15th April 2016 : 4.00% p.a.
16th April 2016 - 15th May 2016 : 4.00% p.a.
16th May 2016 - 15th June 2016 : 4.00% p.a.
16th June 2016 - 15th July 2016 : 4.00% p.a.
16th July 2016 - 15th August 2016 : 3.75% p.a.
16th August 2016 - 15th September 2016 : 3.58% p.a.
16th September 2016 - 15th October 2016 : 3.60% p.a.
16th October 2016 - 15th November 2016 : 3.60% p.a.
16th November 2016 - 15th December 2016 : 3.55% p.a.
16th December 2016 - 15th January 2017 : 3.55% p.a.
16th January 2017 - 15th February 2017 : 3.50% p.a.
16th February 2017 - 15th March 2017 : 3.50% p.a.
16th March 2017 - 15th April 2017 : 3.45% p.a.
16th April 2017 - 15th May 2017 :

Note : Profit Sharing Ratio (PSR) in the page is just FYI on how the profit was shared between the bank and you as part of the islamic Mudarabah concept.
Note 2 : Layman wise, you are entitled to the profit rate quoted without any extra calculation



Pros:
i) Profit calculated daily, flat profit rate for the whole balance, no tiered and hidden condition

ii) Irregardless of placed tenure, you will get back principal + profit for the amount days placed even if you uplift prematurely, provides high flexibility and liquidity.

iii) Higher profit rate compared to saving accounts and board FD.

iv) Similar to eFD, you can place multiple certificates, each with different amount and tenure to suit your purposes

Cons:
i) Once you placed, you cannot uplift on the day itself, can only uplift the next day onwards

ii) Similar to eFD, you can only place and uplift from 6am to 10pm, daily including weekends and public holiday

iii) No PIDM protection.

iv) Influenced by OPR, in the event of profit rate changes, you will entitled the profit rate according to the duration of your placement (refer to historical profit rate)



eGIA-i Review by others:
i) GenX GenY GenZ - Earn More FREE Money with Maybank Mudarabah Islamic Accounts versus Savings Accounts
ii) Stretch Your Ringgit - Maybank General Investment Account-i (GIA-i)
iii) Personal Loan Malaysia - Maybank GIA (General Investment Account) review
iv) Dividend Magic - Where to park your money? Maybank GIA-i

This post has been edited by AIYH: Apr 20 2017, 10:52 PM

cybpsych Ramjade

Rather than having everyone asking this across different threads, might as well open a thread for it

This post has been edited by AIYH: Nov 8 2016, 02:11 PM

thanks boss, you have to jaga two active threads some more. this and FSM. very busy!

topic tracked.. tenkiu sifu ts

wonder why this isnt opened earlier lel. ayam lost out alot just sitting funds at SA

it's ok. at least u found it now.

FSM that one previous people jaga, i take over nia

This one see too many people ask around, but it doesn't quite qualify to discuss as FD (no PIDM) or SA (same no PIDM ) or as investment since almost no risk to discuss about.

Seen many people ask in so many threads, and keep repeating the explanation, so open one to direct all eGIA-i inquiries to here better, save the hassle and more effective

Finally a dedicated thread

woo hoo. time to park 5k into this

oops. wrong account. sorry!

This post has been edited by Avangelice: Nov 8 2016, 03:23 PM

???

Quick question for those that have uplifted prematurely (since I haven't done this before)

Let say you place for 6 months but do a full upliftment after 5 days. Do you still get interest for that 5 days?

yes

ahh finally one dedicated thread

good job TS

Thanks. Another noob question: Do you get the interest immediately upon upliftment or do you need to wait till end of a month?
(Since it says on the website that Payment of profit is on monthly basis)

You get interest immediately but you cannot withdraw immediately on the same you day you place.

If you decide to opt for tenure longer than a month (say 6 months) and let it stay idle for more than a month, then the profit is paid monthly to either casa or add into principal (whichever you choose)

However, if you decide to uplift prematurely (which is how most of us do anyway ), then you will get the profit upon upliftment

Good job TS, finally have its own thread! 😁👍
No need to tumpang other thread anymore lol.

Well done to TS for consolidating all relevant infos

question what's the chances of you losing your principle.