After the successful launching of Gold Investment account, Maybank had come out with another innovative option for mass market --- Silver Investment Account. This would be part of its portfolio of precious materials being offered to consumers. Yes, Maybank was the 1st bank in Malaysia to offer a silver investment passbook account, allowing deposits and withdrawals in silver at a daily price in ringgit at any of its branches nationwide.
How about the return? Of course, it all depend on the silver price fluctuations. For ease of recording and maintenance, all the transactions would be recorded in the customer's passbook. It's simple, transparent and affordable.
Who can apply?
- Individuals aged 18 years and above
- Joint account - maximum 4 persons
Key Features of Maybank Silver Investment Account:
Benefits:
- A great way to increase the degree of portfolio diversification
- A better security against inflating economies
- It is convenient to manage your investment with your passbook
- Start right away with an affordable initial purchase
Why affordable?
Let's take the silver selling price of RM2.93 per gram (as at 9th July 2012) multiply with minimum 20 grams, it only cost you RM58.60 to kick-start your silver investment portfolio. Please add-in one off RM10 stamp duty to open the account.
Finance Malaysia Blog thinks that this is a very innovative products being offered to investors to diversify their investment portfolio to include silver as another asset class. This type of account brings us the ease of investment, forget about the hassle of trading silver. Happy investing!!!
Source: Maybank website
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