4M is sap sap water compare to the cost of operating brick and mortar branches together with other cost such as maintaining a workforce, insurance etc etc. Even with their non-pocket rate at 3% is already higher than most banks FD rate at 2.8%.


In fact, I'm slowly transferring big chunk of my saving to GXBank.

and they are lending out RM1B (our money) and getting 8% return on business loan and getting back RM80M with nothing down?

Sounds like good money to me. Simple calculation only, in actual world of course they will have drop out etc etc but somehow they will still make money but maybe not so much.

KDI Save is backed by Kenanga Investment Bank Berhad, and are not under PIDM .
I think the license is also different as GXBank is directly under Bank Negara's jurisdiction where as KDI Save is under Securities Commission. There are certain "risk" but if you trust Kenanga enuf then it shouldn't be a problem.

I believe that over-subscribed means they've reached RM1,000,000,000 quota. So now they want to end the campaign earlier. I don't think they will reopen the quota after 23rd April bcos after all they've reached their targeted quota in regardless of if there's any withdrawal before the date. They might offer similar or better package for their next upcoming campaign though.

The GX Raya Bonus Interest Campaign (“Campaign”) is organised by GX Bank Berhad (formerly known as A5-DB Operations (M) Berhad) (“GXBank”) and will run from 10 April to 9 May 2024 (both dates inclusive) or such other dates as may be determined by GXBank from time to time with prior notice to you (“Campaign Period”).

GX Taya Bonus Interest Campaign T&C[/U]

Originally the campaign run from10/4 to 9/5, now due to oversubscribed they end it early. meaning after 23/4 no more (3% + 2%=5%), only 3%. until of course their next campaign.