I see why you are confused now. You frame the problem from a wrong perspective.

In our case here with GX Bank, the daily interests is "fixed" at 0.11 MYR, but the interest rate is variable. In other words, you earn 0.11 for all 11 pockets + main account per day regardless of the rate of the effective rate of 2%, 3.85% or 4% p.a.

There is no hassle at all in maintaining the money, the minimum amount to earn at least 0.11 per day is 1006.50 anyway.

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And no, don't let the 1006.50 amount be a psychological barrier for you. You can always park in more than that, just that overall return will be dragged down. If you want, you can put the rest of your money (above 1006.50) over at Rize or BoostBank. Or if you trust or love GX Bank so much that you are willing to pay a price for its sleek GUI interface and stability, you can put in GX Bank with a marginal return of 2% p.a.

It's entirely the user's choice. Don't let 1006.50 stop you from putting anything extra into GX Bank. (I hate to see it goes out of business too )

This post has been edited by TOS: Oct 30 2024, 04:05 PM

haha..this is actually what im doing and also thinking of take it out since its only 2% pa now.

Got a question here, assuming both GX Bank and other digital banks interest rates are the same. GX is giving out daily, whereas others is monthly, so with the same interest rate and same amount of capital, does the amount given out at the end of month ( as well for daily ) be the same ?

daily better as compounding.

Sotsotzaii hard question to answer as you cannot verify with real data. if there's an actual digital bank that gives out 2% also, at least we can do experiment to verify.

Hmm true also.

So if my goal is to gain as much amount ( from the interest ) as possible, daily interest payout digital banks like GX bank would fit my requirements rather than Rize / Boost ?

This post has been edited by Sotsotzaii: Oct 31 2024, 11:22 PM

boost interest is daily. & rates for November is still higher than GX.

This post has been edited by Medufsaid: Oct 31 2024, 11:26 PM

I heard that Boost is quite unstable and also to achieve higher interest rates we have to unlock some certain levels, and are suppose to at least have purchase with their partnered merchants ? I'm looking for a digital bank that have "not bad" interest rates and is given out daily, tried Rize but it's monthly payout so it won't be as good as daily even though the interest rates is higher, I'm after the interest amount.

no problem using it from apple phone.

Can i get a clearer explanation on Boost's interest rates ? What's the baseline interest rates that we get for free ? Without the need to unlock or purchase from partnered merchants or whatever.

Better off asking here: https://forum.lowyat.net/topic/5435096/+740
This is GX related

If I'm putting more amount than the "limit" amount of 1006.50 in GX Bank, is it still valid for me to put 91.50 in each of the 10 saving pockets ?

I plan to put monthly savings into GX bank long term regardless of interest rate, as I'm after the interest amount more so than the rates.

PS - Boost seems very draggy and laggy, and not to mention a bit confusing on all the special jars and saving jars, saving jars must put minimum 100, so sounds complicated to me.

This post has been edited by Sotsotzaii: Nov 1 2024, 06:41 PM

Now we know when the new perks will be announced...

At least today we will know the 1% GX card cashback reward status, gonna wait and see what is their tweaks and perks moving forward

New cashback reward:



This post has been edited by TOS: Nov 5 2024, 08:09 AM

0.10% for local retail spend? wow, never see that was coming

You received this through email?

GX Bank FB page:

https://www.facebook.com/photo.php?fbid=200...03432363&type=3

Hahaha seems legit but better wait for official announcement from GX bank

only so much marketing dollars they can burn through

True to that, initial campaign always burn so much of dollars to gain customer.