Maybank has launched a new digital retail investment tool called the Maybank Goal-Based Investment, aimed at allowing customers to kickstart their financial wealth journey conveniently – especially beginners and first-time investors. Housed within the MAE by Maybank2u (MAE) app and Maybank2u website, it taps into a selection of unit trust funds to help you create an investment portfolio that lets you achieve selected financial goals within your preferred time frame, catering to your risk appetite.

The Maybank Goal-Based Investment feature works similarly to a robo-advisor, requiring you to first answer several questions to determine your risk profile (from Conservative to Aggressive), after which you can choose a personal financial goal from three preset options: retirement, education, and grow wealth. These options are pre-determined for customers’ convenience, aligning with key life aspirations; you are allowed to create up to 10 goals in total:

• 1x Retirement Goal
• Up to 3x Education Goals for yourself
• Up to 3x Education Goals for your children
• Up to 3x Grow Wealth Goals

Depending on which goal you opt for, you’ll be asked a few more questions for the bank to better understand your goal and your profile as an investor. For instance, if you’ve opted for retirement, you’ll be asked for your preferred retirement age and estimated monthly expenses after retirement.

From there, you’ll be brought to a simulation page where Maybank will show you the approximate total that you’ll require in order to retire by your preferred retirement age and how much you need to invest each month to meet that target. You’re even able to add your Employees Provident Fund (EPF) savings to generate a more accurate simulation and estimate.

Once you’ve reviewed the information shared and are ready to start investing via Maybank Goal-Based Investment, you can then proceed to the next step, where you can either choose from a recommended portfolio (you’re able to adjust the weightage of the funds that are included within the portfolio) or build your own customised portfolio by selecting up to five funds (primarily for experienced investors). Both conventional and shariah-compliant funds are available, and the minimum investment amount starts from RM200. Meanwhile, the sales charge is set at a competitive range, from 0% to 1.5% for each deposit.

Maybank further highlighted that the new feature offers maximum flexibility as investors can choose if they’d like to commit to monthly/recurring investments or a lump-sum investment. Additionally, there is no redemption penalty or lock-in periods, and the feature will also automatically help you to track your progress as you continue investing.

If you do not have a Maybank savings account but would like to start tapping into this new feature, you can seamlessly register for a savings or current account entirely online in just 10 minutes (as part of the onboarding process to use Maybank Goal-Based Investment). Customers with existing accounts, on the other hand, can start immediately.

Group chief executive officer of community financial services at Maybank, Syed Ahmad Taufik Albar said that the launch of the Maybank Goal-Based Investment feature is meant to assist individuals who are just starting to invest and may be overwhelmed. They may also worry about high fund management or processing fees. As such, the Maybank Goal-Based Investment feature is designed to remove these barriers, making investment both accessible and affordable for everyone.

“This initiative also addresses our broader commitment to foster financial literacy and inclusivity across the community we serve. As part of Maybank’s quest to strengthen our business presence and position in the region, we have also made Maybank Goal-Based Investment available to Maybank Singapore customers via the Maybank2u SG (Lite) app and Maybank2u web,” said Taufik, adding that the funds offered will be managed by professional fund managers, and that Maybank intends to roll out improvements in the future, depending on customers’ feedback.

To celebrate the launch of the new Maybank Goal-Based Investment feature, customers will be able to enjoy 0% sales charge on their first investment between today until 25 June 2024. If you’d like to find out more, you can head on over to Maybank’s website and FAQ here.

• TAGS:
• Financial Goals
• Goal-Based Investing
• MAE
• MAE App
• MAE by Maybank2u
• Maybank
• Maybank Goal-Based Investment
• Maybank2U
• Maybank2u Web
• Syed Ahmad Taufik Albar