Has anyone come accross this product newly launched by CIMB


http://www.newsabahtimes.com.my/nstweb/fullstory/21839

Profit will be paid based on highest price achieved & capital protected account. It's sound too good to be true.
Anyone have more info on this product?

This post has been edited by netcrawler: Oct 1 2008, 12:26 PM

I just invested to the programme after advised by my friend who is the bank manager. nothing to comment because the product just launched about 3 weeks ago but they give extra 30% bonus during their promotion periods.

here is the link for reference http://www.cimbislamic.com/pdf/maxinvest.pdf

did they have service charge like mutual fund?or all your money uses to buy fund?

At a glance, it looks like saving plan + investment linked.

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Added on October 3, 2008, 10:15 amIt is not sound too good to be true, the profit stated is projected based on last few years market data (normally) which is not guaranteed. Principal is only protected if one held until maturity of the scheme if not, principal is not guaranteed.

Read the fine print.


This post has been edited by cherroy: Oct 3 2008, 10:18 AM

ermm not really flexibility like mutual funds, besides its profit sharing due to islamic product. 95% investor 5% for bank..
not fully for investor.

Surely, banks need to make money mah. If all 100% to investors, then banks work free for customers?

can this be charged to the bank for me to get a OD facility?

Can any other investment be charged also?

There is no service charge like mutual fund. We need to choose of 5,10,25 and 30 years or tenure plan. We also need to maintain deposit at least RM50 to the account

when is the promotion period?

What does it mean by extra 30% bonus during the promotion period?
Do they mean if the customer placing initial investment amount of RM1000, then the bank will top up RM300. The total will be RM1300??

but they say principal is protected means we wont lose any money la.. worst also get 0% ineterst only..but i think wont be so bad la..so i think can try right?? maybe put 10k in and c how..

Wow... is good to invest 10k as they promise will give extra up to 30%.
Hey, is up to 30% extra. Does it mean the extra will be given in tier (the amount invested)?

i think 30% sure not 30% of principle la..sure got trick 1...maybe 30% of your interest or something like dat...i also didnt read detail..but if someone know well about this and 1 2 share maybe i 1 2 try la..

Really salute, not sure about the details, can't simply throw in money already to try out whether it is true or not.

The 30% bonus unit will only given or effective after 30 years.

If 30 years with zero return (it is disastrous already) vs 30 years of FD 3.7%, you lose 10K+ oppotunity cost already.

It is not 3 months or so, it is about very long term, almost half of our life-time already. So be sure about, only start to invest.

After studying the products and get some opinions from my friends who work in the banking line. I finally decided to open an Max InvestSave account. It is a great investment-cum-savings account.

to good to be true.. anyway what it mean by capital protected? let say i open my account with 1k only and top up it with 100 every month.. which one will be protected? wha i,m so nooooooob! sorry

All of your capital will be protected provided you did not make any redemption (units)/ withdrawal before the maturity date.

It got 4 maturity date:
1. 15 years - 15% bonus units
2. 20 years - 20% bonus units
3. 25 years - 25% bonus units
4. 30 years - 30% bonus units

It also comes in 2 schemes:
1. with bonus units - they will charge you when you withdraw/redeem the unit before maturity date
2. without bonus units - no charge for withdrawal before maturity date

when is the promotion period end?

I don'think it's a good time for a long term investment as capital will be protected but the interest not guaranteed at all.