Any idea what is the max amount that one could put into Birthday Jar?

According to the latest Boost's Product & Disclosure sheet dated today, seems like the saving jar interest rate is going to reduce to 3.2% soon.
But it still showing 3.6% on my phone? Will know it whether 3.2% or 3.6% on tomorrow once daily interest credited.


https://myboostbank.co/sites/default/files/...osure_Sheet.pdf

The way they communicate is very bad. The PR team is terrible lah, compared to GX Bank...

The old T&C also has the same statement: https://myboostbank.co/terms-and-conditions

So it's still weekly I think.

The old PDS also says 3.2% p.a., but the saving jar rates have been 3.6% since Boost Bank was launched: https://myboostbank.co/sites/default/files/...ngs_Acocunt.pdf

not gonna waste time with boost further lol

so bloody messy this bank, no clear terms/faq. everything so ambiguous.

old/new stuff also they dont bother to clarify and just leave it in.. so you need play guessing game with them

Pretty sure that the previous days' interest was credited to me this morning. since I just opened the account less than a week and noticed the interest was credited this morning.
I see, the old PDS did mentioned 3.2% as well. So it doesn't take effect yet.

Thanks.

Updated: Just made a call to Boost, and they said interest for saving jar remain 3.6%.

This post has been edited by skymade: Oct 1 2024, 01:09 PM

I din't get any interest today.

Uhmm previous day means yesterday and that's still September. System only upgraded to take effect this month (i.e., starting today), no?

Previously the interest is credited on a weekly basis. You have checked that your first deposit was less than 1 week ago?

Can you ask them if interest is still credited daily or weekly?

Today is my 5th day with Boost Bank, my first deposit on 27-Sept, and never received any "Interest Paid" before last night.
This morning when I open the app, I saw there are a number of transactions named "Interest Paid" was credited into DSA and diff jars.
According to the transactions records, the 1st interest was paid on 28-Sept until today, all interest credited today.

i am.actually getting interest daily since 28th

This post has been edited by cclim2011: Oct 1 2024, 01:27 PM

Oh, so that means BoostBank shifted to daily interests from at least 27th September onwards?

You deposited on 27, you already got money coming in on 28?

some are getting interest daily since 28th while others "lump Sum" transaction all today

Only got the money today.

Right, then it's time to move money form GX entirely to BoostBank...

Magic numbers to try out:

Normal DSA: (0.005/0.025)*366 = 73.20 MYR assuming 2.5% daily interest (effective rate 5% p.a.)
Normal saving jars: (0.005/0.036)*366 = 50.84 MYR assuming 3.6% daily interest (effective rate 7.2% p.a.)
5% special jars: (0.005/0.05)*366 = 36.60 MYR assuming 5% daily interest (effective rate 10% p.a.)

cclim2011 and skymade can you guys confirm that you deposited at least 73.20/50.84 into the DSA or normal saving jars. (For the 4% saving jars last month, to earn at least 0.01 MYR interest the magic number should be (0.005/0.04)*366 = 45.75 MYR.) You guys deposited at least the above numbers and got daily interests?

That's ridiculous. How come the same bank can have 2 interest crediting policies? What kind of bank is this...

my last credited interest is on 27 sept and until now still not getting any daily interest.

edit: i think i know what causing this. I am putting too less amount for daily interest to calculate since this policy change on 28 sept cause i still using the magic number for weekly interest.

This post has been edited by songokujames: Oct 1 2024, 01:44 PM

my only question now is the nonspecial jar and/or saving acct, is it still 3.6... haha..

parking my monthly credit card repayment. used to use rize. 😁

This post has been edited by cclim2011: Oct 1 2024, 01:42 PM

i got daily interest starting 29/9

Guess they just updated the apps and revise the interest to be given daily. I also just realized the interest credited daily in saving jars.