KDI ?
I thought the EAR 4% is on the amount you deposit if you keep for 365 days.
Else you use the Nominal rate of 3.92228% p.a. and count like FD would yield same figure (is my guess)

where's the T&C ?
Where is the promo posted ?

GX Bank gives 10-days for us to move funds from RIZE to GX (1-April to 10-April) to enjoy the 1-month 5% p.a. promo for Savings Pocket

This post has been edited by ronnie: Mar 26 2024, 10:20 PM

Don't you know RIZE has "issues at times" on transferring funds out...
especially after RIZE end their 4% from 1st April 2024

If you put RM5000 on Day 1, on Day 2 your balance becomes higher at RM5000.68 (5000 x 5% / 366)
Each day you only earn RM0.68 for the 5%
The 0.68 gets 3% portion…. Correct ?

This post has been edited by ronnie: Mar 27 2024, 09:19 PM

Here's my calculation of one Savings Pocket



This post has been edited by ronnie: Mar 28 2024, 01:31 PM

I hope GX Akmal gave the correct information

GXBank still reading our topic to create a T&C around it.... so we better keep quiet.

Bank are created to make profits from your deposits... they are not charitable and do CSR

What takes so long to write the T&C for the Savings Pocket 5% promo ??

Write the T&C also take so long...

https://gxbank.my/docs/terms/GX%20Raya%20Bo...%20(100424).pdf

Released !!

By participating in this Campaign, Eligible Customers agree and acknowledge that this
Campaign has a maximum capping of RM1,000,000,000.00 on the total placements received
(“Maximum Capping”) on a first come, first serve basis. GXBank strictly has no obligation to
inform Eligible Customers once the Maximum Capping is reached

The Base Interest and Bonus Interest earned by an Eligible Customer will be
credited in two (2) postings to each Savings Pocket, in particular as “Interest earned” (i.e. Base
Interest) and “Raya Interest earned” (i.e. Bonus Interest).

This post has been edited by ronnie: Apr 5 2024, 09:36 AM

The Raya Promo has a RM1b max capping = 20,000 users x RM50k

and

GXBank strictly has no obligation to inform Eligible Customers once the Maximum Capping is reached

This post has been edited by ronnie: Apr 5 2024, 09:46 AM

exactly.... GXBank strictly has no obligation to inform Eligible Customers once the Maximum Capping is reached

you guys have fun.... hopefully GX bank don't "play" you guys hahahaha

RM0.027 rounds up to 3 sen that's for sure

Interesting why they want to count this way for the bonus portion

would the payout be in one line item or 2 line items ?

1. Base Interest 3%
2. Bonus Interest 2%

by then the smart ones will move to the next digital bank