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> CIMB Max InvestSave, Islamic profit Sharing &Cap. Protected

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TSnetcrawler
post Oct 1 2008, 12:25 PM, updated 11y ago

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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
otherwise
post Oct 2 2008, 08:38 PM

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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
athlon 11
post Oct 3 2008, 01:58 AM

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QUOTE(otherwise @ Oct 2 2008, 08:38 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?

cherroy
post Oct 3 2008, 10:14 AM

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QUOTE(athlon 11 @ Oct 3 2008, 01:58 AM)
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.


Added on October 3, 2008, 10:15 am
QUOTE(netcrawler @ Oct 1 2008, 12:25 PM)
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?
*
It 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.
QUOTE
Customers are advised that the simulation results are used for
illustration purposes only based on hypothetical parameters and
are not meant to be a guarantee, representation or an indication
of future performance. Further information can be obtained from
your sales representative upon request.


This post has been edited by cherroy: Oct 3 2008, 10:18 AM
skybees
post Oct 3 2008, 11:23 AM

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



cherroy
post Oct 3 2008, 11:35 AM

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QUOTE(skybees @ Oct 3 2008, 11:23 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?
tuanbriyan
post Oct 4 2008, 02:19 PM

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

Can any other investment be charged also?
otherwise
post Oct 4 2008, 05:14 PM

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QUOTE(athlon 11 @ Oct 3 2008, 01:58 AM)
did they have service charge like mutual fund?or all your money uses to buy fund?
*
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
feralee
post Oct 10 2008, 12:46 PM

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QUOTE(otherwise @ Oct 2 2008, 08:38 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
*
when is the promotion period?

danlhct
post Oct 10 2008, 11:39 PM

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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??
c0ok1e
post Oct 10 2008, 11:44 PM

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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..
danlhct
post Oct 10 2008, 11:52 PM

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QUOTE(c0ok1e @ Oct 10 2008, 11:44 PM)
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..
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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)?
c0ok1e
post Oct 10 2008, 11:57 PM

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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..
cherroy
post Oct 11 2008, 09:55 AM

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QUOTE(c0ok1e @ Oct 10 2008, 11:44 PM)
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..
*
Really salute, notworthy.gif not sure about the details, can't simply throw in money already to try out whether it is true or not. smile.gif

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.

QUOTE
Pioneer investors of Max InvestSave will receive bonus units of up to 30 percent of their total investment value.

Therefore, customers who invest RM100 for 30 years will receive RM130 worth of units. The bonus units must be held to maturity



danlhct
post Oct 19 2008, 12:02 AM

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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.
bluffy83
post Oct 19 2008, 06:21 AM

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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
danlhct
post Oct 19 2008, 11:25 PM

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All of your capital will be protected provided you did not make any redemption (units)/ withdrawal before the maturity date.
supcendawan
post Oct 26 2008, 12:22 PM

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QUOTE(cherroy @ Oct 11 2008, 09:55 AM)
Really salute,  notworthy.gif not sure about the details, can't simply throw in money already to try out whether it is true or not.  smile.gif

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.
*
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
CANON_REBEL_XT
post Oct 29 2008, 07:54 PM

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when is the promotion period end?
kumarr
post Oct 31 2008, 05:42 AM

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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.

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