Maybank Kim Eng Reviews and Comparison - Seedly
 
Reviews (5)
3.4
Reviews (5)
3.4
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kim eng

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  • Updated on 13 Jun 2019
    Maybank Kim Eng used for a prefunded account to do my RSP. Pros: 1. More counters for selection to do RSP 2. 1% sales charge for transaction below $1,000. 3. Units are notified via email when purchased on the 9th. As I prefer online statements compared to letters. Cons: 1. Interface is pretty outdated and it took me sometime to navigate the site. 2. Need a min. of 100units to be able to sell. 3. There's sale charge when selling but insignificant for a low amount.
    2 comments
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    Ginny Goh
    Ginny Goh

    27 Jul 2018

    Thank you for the review, how much is the selling charges as I can't seem to find the information anywhere.
    Jay Liu
    Jay Liu

    27 Jul 2018

    1% sales charge https://www.maybank-ke.com.sg/products-services/products-services-listing/monthly-investment-plan/
  • Updated on 30 May 2019
    I signed up for their Monthly Investment Plan only for them to cancel it within 3 months. So now I'm saddled with odd number of shares that in order to sell them I have to put up with $10 commission fee each. This offer is only valid until December 2019 and should I hold them past the due date I will be charged $40! I have to write off all my counters on MIP. By far my worst ever investment.
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  • Updated on 19 Apr 2019
    Signed up for a pre-funded account last year. Commission rate is low. Just a reminder, indicate an amount higher than $100 for MIP. As indicated $100, your commission rate would be more than 1%. For example, if you indicate $100 for a stock priced at $25. They would purchase 3 units for you as they take into consideration fees in that $100. The commission is a minimum $1, thus your commission rate is approx 1.33% instead of 1%. With the same logic, try and accumulate at least $8500 stock value before the intention to sell.
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  • Signed up for a prefunded account last year to start on their monthly investment programme. I'd say they have the widest range of stocks for selection to rsp into on a monthly basis. Their website is a bit old fashioned but workable enough. Just downloaded their app recently to start on margining some stocks and it's quite straightforward to use. Better than the other local broker app I used in the past and it allows fingerprint authentication to sign in.
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  • Updated on 15 Sep 2018
    Signed up for Maybank Prefunded account during a roadshow and there was an on-going promotion whereby one can get 12 months of $0 commission for Monthly Investment Plan. Pretty good way to perform RSP as there's no cost (and no custodian fees charged too)
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Questions (6)

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Stocks Discussion

Investments

Maybank Kim Eng

SK
Shabir Khan, Diploma in AMS at Temasek Polytechnic
Level 5. Genius
Updated on 28 Jul 2019
Hi, Usually it’s $40. But since Maybank KE has closed MIP, they have a promotion till the end of the year where the commission is the $10 + GST, which usually costs about $10.75, and yes the minimum is $10 so you will be charged $10+ no matter the contract value, you have to call your representative to make the sale for odd lots. The contract value for odd lots would not be same as the market as odd lot market value is slightly lower for every stock. Yes you will be charged separately for different counters, hope this helps.

Investments

Stocks

Maybank Kim Eng

Jonathan Chia Guangrong
Jonathan Chia Guangrong, Fund Manager at JCG Fund
Level 8. Wizard
Updated on 07 Jun 2019
Unfortunately there is no viable alternative currently, to me, for MIP. Not with the breadth of counters available and at their commission structure. Only other way I see is to continue funding your prefunded account and buying into the counters manually. I'm personally considering this option once MIP ends, since the prefunded commission rates are cheaper as compared to non prefunded account rates. The shares you purchased through MIP will remain in your prefunded account. There is a promotional rate until end of the year to sell off the odd lot shares at 'normal' online brokerage commission rates. It will be 40 dollars otherwise if you contact your broker to sell off the odd shares.

Investments

Maybank Kim Eng

Jonathan Chia Guangrong
Jonathan Chia Guangrong, Fund Manager at JCG Fund
Level 8. Wizard
Answered on 31 May 2019
Hate to see it go. Like that it offers a myraid of different stocks at a low commission rate. Will probably wait for something similar to come up before I start RSP again. Hoard the cash in the meantime

Credit Card

Maybank Kim Eng

Sarah Chan
Sarah Chan, Business Administration at NUS
Level 6. Master
Updated on 07 Jun 2019
Hey there anon! I've been researching into student-friendly CCs lately too and considered the 2 you mentioned as well. Here's my opinion: I prefer the DBS Live Fresh CC over the Maybank eVibes CC 1. The cashback from the DBS Live Fresh CC isn't just 0.3%, there're different cashback percentages for different types of spend. Check this answer I recently did with a more thorough analysis of the DBS Live Fresh CC! 2. Objectively speaking, the DBS Live Fresh CC might fall short of the Maybank eVibes CC because there're monthly caps on the cashbacks you can redeem (read more in my answer!). Based on Maybank's eVibes CC T&Cs, there isn't a monthly cap on the cashbacks you can redeem. 3. That being said, I still prefer the DBS Live Fresh CC because it helps boost my interest rates on my DBS Multiplier account. If you intend to open a DBS Multiplier account in due time, I highly recommend you get the DBS Live Fresh CC instead! To close, the monthly caps imposed by the DBS Live Fresh CC wouldn't be too much of an issue unless you spend a lot - which i assume you wouldn't as a student as I don't too. If you're looking for more reviews on the DBS Live Fresh CC, here they are: https://seedly.sg/reviews/credit-cards/dbs-live-fresh-cashback Hope this helps! :-)

Investments

Trading

Maybank Kim Eng

Tan Wei Ming
Tan Wei Ming
Level 6. Master
Answered on 11 May 2019
Depending on how much you are investing every month. If it is less than $500 then POSB InvestSaver and Maybank KE MIP are cheaper since their commission is min $1.

Regular Shares Savings Plans (RSS)

ETF

Maybank Kim Eng

Investments

Justin Tang
Justin Tang
Level 2. Rookie
Updated on 07 Jun 2019
If you have to ask which durian to buy, then you are better off buying the entire plantation. In finance, the plantation would be index ETFs.
About Maybank Kim Eng
Product NameMaybank Kim Eng
Stock holding typeCentral Depository Account (CDP)
FeesMinimum: $25 < $50k: 0.275% $50 to $100k: 0.22% > $100k: 0.18%
Cash Upfront OptionMinimum $10 or 0.18% whichever is higher

Types of services Maybank Kim Eng provides

Maybank Kim Eng offers a few types of services on their trading platform.

  • GIRO service offers an automatic and convenient way of debiting payment from credit sale proceeds to designated bank account.
  • Electronic payment for shares (EPS) feature where investor can conveniently pay for their Singapore shares investment at ATMs or through their iBanking account.

Types of account available with Maybank Kim Eng

Maybank Kim Eng offers various types of account, catered to the different needs of individual investor.

The types of account Maybank Kim Eng provide are:

  • Basic Trading (Cash) Account
  • Forex Trading

Brokerage fees and charges of Maybank Kim Eng

The fees and charges of Maybank Kim Eng are as follows:

Online

  • Minimum Commission: S$25
  • Investment of S$50,000 and below: 0.275%
  • Investment of S$50,000 to S$100,000: 0.22%
  • Investment above S$100,000: 0.20%

Phone

  • Minimum Commission: S$40
  • Investment of S$50,000 and below: 0.50%
  • Investment of S$50,000 to S$100,000: 0.40%
  • Investment above S$100,000: 0.25%

Other transaction charges:

  • Clearing fee imposed by CDP: 0.0325%
  • SGX Trading fee: 0.0075%

Contact Maybank Kim Eng