Maybank targets RM32m investments with 'Silver Account' (1155)

KUALA LUMPUR: Malayan Banking Bhd aims to attract RM32mil in investments within the first year of its "Maybank Investment Silver Acccount" as part of its portfolio of its precious materials offerings to consumers.
Maybank
said on Monday it was the first bank in the country 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.
Its
deputy president and head, community financial services, Lim Hong Tat
said the new investment account would provide an opportunity for the
consumer market, especially the mass segment in search for new
investment opportunities to cater to their growing needs and risk
profiles.
"Since this is an affordable investment opportunity,
Malaysians can now start investing at a younger age and perhaps learn
their way up earlier to financial freedom. "With this innovative
option, we are targeting 20,000 Maybank Silver Investment Account
customers in one year," he said.
Lim added silver was highly
valued for jewellery and industrial practices while it would always be
valuable regardless of the economic climate.
The returns on
customer's investment depend on the silver price fluctuations and the
transactions would be recorded in the customer's passbook for easy
record and maintenance.
The minimum investment is 20 grams. The
subsequent minimum purchase or sale is 10 grams with an addition amount
in one gram denomination. Customers however must have a minimum balance
of five grams in the account to keep the account active. Purchase of
silver will be based on Maybank's current silver selling price quoted
in ringgit per gram. Silver was priced at RM2.95 per gram as at July 3.

+1 silver link fund. silver at year low now i think around 30usd

ya, plan to open acc in singapore for silver acc, double-sgd and silver price

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+1 = 929 :D