Thanks for the heads-up. Now can transfer money out. Left 73 MYR in DSA, 60.84 in all remaining 8 jars and Celebration jar.

Time to go back to good old Rize (maybe not so good in December 2023...)

How's a Rize bank if comparing with GX bank and Boost Bank?

TIA.

Overall, if GX Bank is rated at 10, Rize would be 7-8, BoostBank will be 2-3 in terms of reliability. Others may report different figures based on their user experience.

Good morning. From today onwards:

2.5 % p.a. DSA (check updated rate in product disclosure sheet if there are any changes, link at bottom of post):

Minimum 0.005*365/0.025 = 73, at increment of 0.01*365/0.025 = 146 for every extra cent of interest (no max limit *, 50k daily transfer limit cap)

Previously 3.2 % p.a. Normal saving jar (all 8 normal saving jar rate will drop to 3% after 9th January, in line with the declining rate for Celebration jar after 9th January):

Rate drop to 3% (same with Celebration jar, see below, except deposit limit -> normal saving jar limit 1 million, Celebration jar limit 25k)

Minimum 0.005*365/0.030 = 60.84, at increment of 0.01*365/0.03 = 121.67 for every extra cent of interest (Normal jar max limit is 1 million, but to earn interest, max needed is just 60.84 + 121.67 * 8218 = 999,944.90 per jar, uhmmm let's push it further, since we will get 999,944.90 * 0.03/365 = 82.19 per day at this juncture, might as well target 82.185 per day right? Hence, the maximum principal to put in is 82.185*365/0.03 = 999,917.50.

Previously 3.6 % p.a. Special saving jar (from 10th Jan onwards Celebration/birthday jar rate dropped to 3% p.a., CelcomDigi and Sabah jar rate dropped to 3.3% p.a.):

3% Celebration/Birthday jar magic number follows the case mentioned above in normal saving jar paragraph, but with 25k limit. Max principal to put in should be 24880.84 to earn 2.05 MYR interest per day, after 10th Jan.

3.3% CelcomDigi and the Sabah jars:

Minimum 0.005*365/0.033 = 55.31, at increment of 0.01*365/0.033 = 110.61 for every extra cent of interest (I will leave it as an exercise for you to show that for the 50k CelcomDigi jar, if you are eligible, the max principal to put is 49938.64 and you get max daily interest of 4.52 MYR.)

* after credit transfer verification, max across all balance including saving jars: RM 100,000,000, see https://myboostbank.co/terms-and-conditions section C, item 3)

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Useful links to check their latest updated interest rates (bookmark them if you like)

DSA: https://support.myboostbank.co/hc/en-gb/art...st-Bank-account

Normal saving jars (max 8): https://support.myboostbank.co/hc/en-gb/art...my-Savings-Jars

Special jars: https://support.myboostbank.co/hc/en-gb/cat...n-and-Campaigns (Click on "what is the campaign period" link for each jar's FAQ to check the promo period and rate)

(Future) rates may also be stated in the product disclosure sheet (for DSA and normal saving jar) and T&Cs (for special jars):

DSA and Normal saving jar rate stated in Product Disclosure Sheet: https://myboostbank.co/sites/default/files/...et_Jan_2025.pdf

Celebration/birthday jar T&C PDF: https://myboostbank.co/sites/default/files/...ry_Jar_2025.pdf

CelcomDigi jar T&C PDF: https://myboostbank.co/sites/default/files/...mpaign_2025.pdf

Sabah jars T&C PDF: https://myboostbank.co/sites/default/files/...ia_Jar_2025.pdf

(All PDF links as at 10th Jan 2025 1 am GMT/UTC +8)

Thanks for the heads-up. Now can transfer money out. Left 73 MYR in DSA, 60.84 in all remaining 8 jars and Celebration jar.

Time to go back to good old Rize (maybe not so good in December 2023...)

Haha, I love your above quote. 

Thank so much.

no prob..btw why u not going to tng+?

for normal saving jars, my app still shown as 3.2%, only special jars updated.. will Boost u-turn again?

no prob..btw why u not going to tng+?

I never trust ewallets. They can gate your withdrawals as they like, stopping you from transferring money out if the amount is too large. They are not banks, they are more like fake wallets.

With a real wallet means I can put my money in and pull out anytime. But ewallets withdrawals are determined by TNG itself. Money go in easy, money go out no different from paying toll on highways...

Of course, TNG's reputation of being a horrible monopolistic toll collector doesn't help much as well.

But your mileage may vary. Some people can transfer thousands in and out without facing any issue. Such selective gating really infuriates me, so I stick to Rize and if the merchant at kopitiam only accepts TNG ewallet, I will transfer only the specified amount of say 6 MYR into TNG then pay from there. This help minimizes my losses, if shit hits fan.

The interest I received today is still based on 3.6% even though it display 3.0% on the app hmmmmm

I think the most important thing is user convenience. GX Bank update their rates and credit interests during wee hours, never kacau people during office hours. Rize don't change their rates that often, don't have tonnes of promo, no tiered interest rates based on different jars, and credit interests once a month.

All these help explain why they don't create as much chaos as BoostBank.

Oh and one thing, Rize is also one of the strictest/safest bank. If you try to withdraw above the withdrawal limit set a few times, the customer service will call you in minutes and verify your identity. Other banks probably just block your account and ignore you, waiting for you to email/call their CS rep to ask or report to unblock account etc.

And Rize has extremely good customer service reputation. They answer calls and reply emails without fail, solve matters in minutes to hours.

Boost keep changing interest rate anytime?

We have revised our interest rates - but don't worry, they're still just as rewarding!

    Earn 3.3% p.a. daily interest* in Savings Jars and turn your dreams into reality
    Earn even more with 3.4% p.a. daily interest* in Special Jars when you spend with our eligible partners

So just sit back, relax, and let your savings continue to earn high interest effortlessly this new year!

I tried to register Rize, 1st set of Username/phone number was blocked after 3 time. Then I try different User name / phone number 2xs also failed.
Tried Boost 1 time pass. is okay will stick to boost. no complains on down time since registration 1 week ago.

Today, 22 November 2024, only inform issues related to Developer mode faced by Android users.

I rechecked the FAQ links and T&C PDF, nothing changed. Check their FB page, 3.3% and 3% mentioned:

https://www.facebook.com/myboostbank/

Not sure where you saw the 3.3 and 3.4% thingie, if it's from the app notification, just ignore. As I said, their app figures are all wrong until things have settled down. Always check the FAQ, T&C PDFs and their social media pages.

T&C no change. DSA 2.5%, Normal + Celebration saving jar 3%, Special jar 3.3% is what we know so far.

Didn't receive any special amount on 3.4% lol 

But I got this for the first time: