I'm curious, is having AVP at the age of 28-29 is considered too young and not qualify?

Agree totally. This is just marketing gimmick. You can be an AVP but you are actually equivalent to an Assistant Manager or even a Senior Executive, depending on the company. Perfect example, Affin Bank, you can be a VP but you are actually working on the field and do not have any management role. Same goes to Maybank. I think in Maybank, a management role would be Director and above or something like that. AVP, VP are not managerial roles, if i am not mistaken.

It really depends on the company. The benefit I can see this is that, if you jump, you can demand higher and there are still many companies out there who sees this positions as very high position so they could offer you a management role after that.