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.

Maybank bankrupt. Or don't want to honor the principal = cause backlash among consumers (how many customer will not trust maybank anymore?) = cause trouble for them now and in the future

Track recoed: 6 months+ no problem.

Even some guy put 6 figure inside while waiting to TT to for his kid's tuition in US.

This post has been edited by Ramjade: Nov 8 2016, 08:46 PM

Very minimal chance..
If u worry, don't join

I illustrate a scenario in hope that you can understand it.

Say you place the following.

Principal 3k
Tenure 6 months
Placed on 11/11/2016

Profit instruction scenario 1: credit to casa
If you choose this, you will receive monthly profit into your casa
Your principal still remain in GIA

Profit instruction scenario 2: add to principal
If you choose this, you will receive monthly profit that add into the principal itself
Nothing will be credited to your casa
Your principal plus profit will remain in the same GIA cert

This post has been edited by AIYH: Nov 8 2016, 09:19 PM

If you read the review made by stretch your ringgit, you will see this extract:

Will have higher returns since profit is added to principal?

looks interesting. who's with me to put in 5k into this?

Yes. Even higher if uplift and put new placement everyday. But who so rajin.

Been there, done that (>RM5k)
My 4 digit is peanut compare to someguy with 6 figure

somehow I get the feeling you and one more /ftard is talking about a guy.

is it that someone who chases fd around town on a daily basis looking for the best rates?

In theory it should be

But i have yet to try since I uplift most of my cert weekly

Used to be, but ever since I get to know ASx and FSM, i put some into ASx FP while the rest dump into Asnita liao

Still, given eGIA-i special nature, I treat it as my quasi saving account dy other SA and FD all not practical to compete liao (to me at least)

mother of gawd... why i late know this

that's why an investor you shouldn't be focusing on returns but also take into consideration and the risk that your principal or capital goes down the drain.

think I know who the guy

Reportng in.
this is a good account to park the money

Not covered by PIDM, i mean does Maybank takes the FD away before ??? When economy now is bad, the principal will be gone if Maybank losing ??

Hahahahahaha
No such thing. Already over 6 months+, all safe.

If more hardcore can do it daily then.😁
Just wanna ask about the interest declaration, its is monthly based right?
As example, this month interest will be declare early dec?
So if uplift before that, are they using the indicative rate or what?

Technically you can, and if they will round your profit to the nearest cent if you care about it

But time is gold also, when you uplift, you need TAC also, takkan everyday TAC?

The profit rate is declared every mid of the month and from that day to the next mid of the month, profit will be calculated based on that period's profit rate

Give you a hypothetical case:

Say the historical profit rate is like this:

16/6 - 15/7 : 5% p.a.
16/7 - 15/8 : 3% p.a.
16/8 - 15/9 : 4% p.a.

Say you placed 3k on 27/6 for tenure 2 months

If you decide to uplift it on 19/8, then your profit entitlement will be calculated as below:

[(4 + 15) * 5% / 366 + 31 * 3% / 366 + 3 * 4% / 366] * 3k = RM 16.39

Of course this calculation havent consider the fact that profit will be paid monthly depending on your profit instruction, so real life case my be slightly different, but this is the basic idea of the profit calculation

This post has been edited by AIYH: Nov 8 2016, 11:25 PM

How much more can I earn if I do this placement and upliftment every single day?

Say I put RM5k

RM5,183.27 effective rate: 3.6654%

https://www.investor.gov/additional-resourc...rest-calculator

Thanks. So if I left it mature monthly I'll get RM5,183.00 according to the link you gave

That's only earning RM0.27 more after 1 year if I uplift daily. No need to waste time la

It's not meant as long term parking place. But short term parking place.

anyone going for the gia-i step up campaign? 10k minimum, effective rate 4.10% per annum

first, not sure still have quota or not

second, need 10k and 12 months, no money plus too long :lol

FD forum a lot of people discussing that

EDIT: Come to think about it, should the eGIA-i promo rate be discuss on FD forum or here?

This post has been edited by AIYH: Nov 9 2016, 08:13 AM

gia-i should discuss here! not at FD threads! dont they know the difference?? #rantover.

yea, i satisfy both of your problems too. no money and too long and no insured. kinda risky for my liking.

this is good if u have money sit in ur bank account for a short term and wanna gain interest
very useful for me because i have fund available for 1 or 2 weeks in a month

risk is not a problem, but given it is not protected, fixed income do provide better returns then GIA for now (unless they raise OPR until fixed income return dont look attractive, then thats another story )

Do you think is worth to forgo the PIDM protection for SA and board FD in favor for GIA profit?

Not sure what will others think about this, may be can use this point to spread this product to your peers

Unless there is another party who can offer similar feature and better rates (besides ASx FP)

what is ur opinion about the risk involve?
i am confident with maybank and i think the risk is really small to none

everyone has a diff risk profile. low, medium, high. if you are ok with it then go for it.

some of us just feel it's too much risk for that extra few bucks compared to FD. compromise some of us come up with is put in two months, let it run. then next round reconsider our options.

as ramjade sifu said, short term, not long term. benefits are the same whether you put in long or short term. except for that step up campaign of theirs.

i see...so the situation is different
i dun have any other choice...cannot put in fd

my fund only available for 1 or 2 weeks in a month
and i wanna make some money out of it

i never compare gia with fd

thanks all sifu for explaining and giving real feedback like calculations and scenarios... at least you guys are not like some others..karit knowledge and tebal kulit like on some othe sub forum lel...

just wana buka acc and my cimb got credit limit cant top up to maybank

this is how i handle my funds. i put them all in maybank2u savers with 2.xx% per annum with a balance of more than 2.5k. make gia-i for two months.

in your case, still doable. put in gia-i for two weeks, reap the rewards, take it all out and rinse and repeat every month. no penalty for taking it out early if that is what you are worrying.

not sifu la. even my rank is junior member compared to you senior member!

they have their reasons not to share their knowledge. for me, i got no loss or gain telling you all this. in the end, it makes you a better handler of your money and that's great in my opinion. anyway, with your new found knowledge, hopefully you can pass it forward to everyone u know and who needs it.

If promo FD have better rates than GIA and you have the money, by all means go for it

However, just wondering, from my POV, GIA is definitely better than normal SA given they have similar function with multiple fold higher rate.

Although GIA and board FD don't differ by much, GIA still better in slightly higher rates and penalty-less uplift, provide much better flexibility?

My concern is that what is the bottom line for people to prefer SA (PIDM but very low interest) over GIA (no PIDM but higher rate, although risk very very very low)?

dont be surprised some people look at that 'PIDM insured' very heavily. so they have their reasons to always go for PIDM insured stuff so that they know their money is well protected.

reminds me of all those commercials about PIDM on the radio. sometimes wanna throw the shoe at it.

You are using ASX fp to park short term fund?

Same here. If maybank kaput. Malaysia economy also kaput.

Keep in mind that below RM2k you won't get anything from M2savers. Interest for >=RM2k is only 2.15%

Want to, but ASx FP at its current form is still like traditional banking, so I normally top up like 100 to all funds every month (unless their online platform is convincing and convenient enough then will consider to play around my money strategy )

lol mostly troll

and few post here and there where it really matters. good knowledge are meant to be shared. like itu unker from genx gen y gen z. surely why he gets to where he is he believe is good karma from doing all these good stuff. so u guys really my sifu hahahahah..

sure2...why benefit alone right hahaha

im not sure about this if i have not read it or not found.. but can we open like 2-3 gia acc? for example. first one 3k. not gona do anything. 2nd one open put in 1k. 2 weeks later take out pay cc. 3rd one more or less same as 2nd ?

Is just like efd, you place them as multiple certificates and uplift them individually as you like

The major difference is the upliftment penalty:

eFD will penalize you for early upliftment (no interest or half interest)

GIA will give you profit according to the number of days you placed in the event you uplift less than a month

This post has been edited by AIYH: Nov 9 2016, 09:20 AM

ramjade should have done it before. i think it should be ok?

got it

heil ramjade

Yup possible. I held 7 placement in eGIA-i before. Then another time I make placement then uplift the next day (multiple times)

lucky 7

heil ramjade indeed

^ here's my strategy in using eGIA, previously shared here

you should know how much of your fixed monthly expenditure (car/house loan, bills, give parents, etc) and payment due dates, right? so, timed your placement and uplift accordingly.

thank you kind sifu

yes i know when and when to pay all the bills. thats why i want to maximise hahah.. thanks for sharing

Finally, a dedicated thread for GIA-i. Already 4 pages after only 2 days. Well done, AIYH. Thanks for sharing my blog article as well.

One thing about GIA-i, you won't only risk losing your capital if Maybank goes bankrupt. It can happen too if the investment is losing money. The risk is very low though as the money is invested by Maybank in providing loans to its customers. It has not happened before so far, just to want to highlight it here to clarify any doubt. As for risk level, I would say the risk is lower than money market funds and bond funds but higher than FD / CASA (even those without PIDM protection from institutions like Bank Rakyat, MBSB etc. because the principal & interest are guaranteed by those institutions, only not insured by PIDM).

I think it is important to calculate the profit / interest to ensure we are getting the rate we assume we are getting. That way, we will know if the rate dropped or if we lost any capital. If you see the amount you get is less than initial amount, then & only then, you should start to worry if Maybank is really in trouble. Then, can decide if want to continue with it or not. But, so far, so good.

I think parking 5 figures in gia is okay la. (considered low risk & "safe")
I believe many taikor over here parking even 6-7 figures...

If you're "so free", you can "try to up lift" to check your interest everyday lolzz

This post has been edited by heavensea: Nov 9 2016, 09:02 PM

boss, i don't see the instruction to add to principal.
Am i missing something?

Before pressing confirm, select 'back', you should see credit to principal

The trick still valid.
I taught maybank web team would have fix this ! Clearly i was wrong hahaha

Good job TS for this thread

I try this "add to principal" trick the profit rate is not been displayed in the cert? instead it read "rate as declared on maturity date".

Don't worry. It's always like that. They cannot say how much they will give you.

Just look at interest and the date.

you did this on previous promo? i am on 12 months so was kind of worry.

No I don't do eGIA-i promo. But people who did that so far got the rates mentioned.

if u credit to principal, somehow they cant calculate the rate. so do some manual calculations and u get the rate.

thanks, I know the rate. the worry is if they will honour the rates as the beauty of 12 months is that the better rates only kicks in at 2nd half of the tenure.

This post has been edited by bearbear: Nov 11 2016, 08:51 AM

if u really follow their T and C, it's up to them to change the rate. what they advertise might not be what you will get . however, the best condition is you will get what they promote. all you can do is wait it out and hope for the best.

It is not necessarily true that the GIA account is less risky than money market funds. There are some money market funds that invests only in short term deposits and FDs, and these funds should be less risky than GIA. I have invested some funds in GIA too but I dont like how opaque their investment mandate it so am just keeping some funds in for a higher rate of return.

Is it possible to make a placement over the counter via cheque and do uplifting the next day? If yes, this would be awesome as some foreign bank has 2 days float

Oh yeah, write a 100k cheque with RM 0 in account, walks away with 100k cash and let the cheque bounce.
Why I never thought of this?

that's going to land you in jail btw. lol. we aren't talking about a slap on the wrist. this is full on capital punishment

but the thing is, does the bank even allows it in the first place?

oh he'll no. this a crime. I forgot the technicalities but writing a fake cheque can and will land you in hot soup.

Is not a crime. You can write a cheque but say your bank account is zero = cheque bounce. Anyway I wouldn't do that. No point black list my name only.

This post has been edited by Ramjade: Nov 16 2016, 10:10 AM

are you sure 100k cheque can cash out ? many banks has limit of cheque cash out, if can do this, why don't you write a 1 million cheque on this for cash out ...

what is the point for this? a bounce cheque will get penalty for some amount....
this is like after eating, got nothing to do

in other countries it is a crime.

and have a look at this

http://m.malaysiakini.com/letters/33116