Continued from previous topic on the 5 MY digital bank licenses: https://forum.lowyat.net/index.php?act=ST&f...#entry112041447

This post has been edited by TOS2: Aug 18 2025, 04:18 PM

Ryt Card perks



Ryt card product discloure sheet: https://rytbank.my/documents/ryt-card/Produ...re-Sheet-en.pdf

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Ryt bank fees and charges: https://www.rytbank.my/fees-and-limits

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No interest round up or down possible here as Ryt will keep track of your daily accrued interest down to many decimal points.

20k in saving pocket with 4% p.a. daily return is what you will expect.

This post has been edited by TOS2: Aug 20 2025, 01:07 PM

when scan ic, it keep flash and coz the ic light explose and fail to verify.

Use an opqaue object (like your black mouse pad) to cover the flashlight of your phone when taking photo of your IC during the e-KYC process.

haiz stuck in verification for 2 hours. still waiting ! (dumb ekyc process)

This post has been edited by ericlaiys: Aug 18 2025, 04:26 PM

Hmm.... How so? You're on IOS or Android?

Mine is seamless.

ios

check if you got email (Maya at Ryt Bank). if you did then its completed and can check the app. mine completed in an hour

Mine is Android.

Your Pro/Pro Max phone camera might be too canggih. Image pixelation counts too high for AI to handle.

the flashlight spot on my ic, end up my ic was light explore, nothing can do

Uhm I don't understand. Can share your phone model? Maybe sifus here can help you.

The flashlight is located beneath the camera on my phone, so I blocked it. Then I realized there is an additional near-infrared sensor light coming out from the bottom camera of my phone, so I blocked that one as well, leaving only the topmost camera taking my IC photo.

This was my way and it worked:



This post has been edited by TOS2: Aug 18 2025, 04:55 PM

so sad, still waiting after few hours. most likely high issue & problem. first day open already cannot take it

[update]
now received a sms say my phone is unbind. try log in and bind again. stuck at verification waiting again

This post has been edited by ericlaiys: Aug 18 2025, 05:01 PM

Account approved in about an hour time. Funnily, there is no notification when my Ryt account opening is approved. Have to login then only find out approval done.

ikanbilis Wanna try round up trick again?

I am looking at this though.

https://www.rytbank.my/bonus-interest-campaign

4% rate got any capping?

https://www.rytbank.my/bonus-interest-campaign

Apps facial verification reliable? Put in money easy but want to take out money susah if facial verification is buggy.

I looked at the examples they give. They are smart enough to separate the extra bonus 1% p.a. as a separate bonus interest to be paid to the Ryt pocket, so we cannot use round up trick directly here because 0.005*365/0.04 = 45.63 MYR, but 45.63*0.03/365 = 0.0038 MYR which is less than 0.005 MYR so the base interest of 3% p.a. will not be paid, let alone the extra 1% bonus.

The next best alternative is to apply the round up trick, but with a 3% p.a. rate instead of 4% p.a. In this case, 0.005*365/0.03 = 60.84 (the familiar magic number from BoostBank saving pots). If round up trick applies, we should get 0.01 MYR in the original save pocket (for 3% p.a.) but then we miss out again on the extra 1% p.a. because 60.84*0.01/365 = 0.00167 MYR which again is less than 0.005 MYR. Yet effectively we are still earning 6% p.a. because the 3% p.a. interests is rounded-up in this case, even though we totally lose out from the extra 1% interest bonus.

To take advantage of the 1% bonus, we need to fulfill the condition such that the daily interest earned is 0.005 MYR = 1% p.a. Solving this in maths means 0.005*365/0.01 = 182.50 MYR. Now 182.50 MYR in a saving pocket would yield 0.015 MYR interests daily, which rounds up to 0.02 MYR (if round-up tricks apply that is), then the extra 1% p.a. bonus interests would give another 0.005 MYR, again rounded up to 0.01 MYR. So now, we have 182.50 MYR giving us 0.03 MYR daily per saving pocket. That means an interest rate of 0.03*365/182.50 = 6% p.a.

Ermmm, so the 1% p.a. bonus interests is not really any advantage... 6% p.a. anyway, just some maths exploration from my side...

update on my issue after contact support
1. they unbind my devices
2. decline previous submission and ask me to resubmit ic
3. block the camera flash and take ic picture and selfie
4. account activated after 1 min. Super smooth and tested AI working fine.
5. Requested limited edition card and virtual card

This post has been edited by ericlaiys: Aug 18 2025, 05:46 PM

There are some potential complications to the way the daily interests are calculated. It really depends on how many decimal points they keep in the system. The Help and Support page on the website is down, so I screenshot it from my phone.



So if we are aiming for a clean 6% p.a., the 182.50 MYR route is one good way, because there is no residual natural number beyond the third decimal point (daily interests of 0.015 and 0.005 respectively)

This post has been edited by TOS2: Aug 18 2025, 09:12 PM

Do we need RM20,000 in the Save Pocket to earn the extra 1% ?

ronnie minimum RM1, max RM20k. this is my understanding

You're welcome.

Only 10 Saving pockets available btw

Then I guess the best will be 9 pockets with RM 182.50 and the last pocket will be the remaining of our RM 20000 fund if TOS2's assumption is right

Created a "House" save pocket and deposited 182.50 MYR. Will update you guys tomorrow on the daily interest payment and verify if the 6% p.a. calculation holds.

example shows 6 decimal... so would round the 7th...

There is also the BNPL feature called Ryt PayLater which isn't rolled out yet I think.

https://www.rytbank.my/fees-and-limits



The 1-month 0% interest is tempting, but make sure you clear your outstanding balance strictly within 1 month, otherwise the 26.80% p.a. ridiculous rate will kick in from the coming months onwards.

This post has been edited by TOS2: Aug 18 2025, 08:12 PM

After getting invite code from TS, my account is set up within 10mins upon transferring RM50 into the account. App seems quite smooth and will transfer more money into Ryt.

Later cannot transfer out you jialat

Remember to check the Duitnow transfer and QR transfer limits etc.

Max daily limit for BOTH QR and non-QR is 50k MYR. Minimum is 500, default set at 5000 MYR.

Increasing limit will result in a 1-hour cooling-off period, after which the new limit will take effect.

Always think about your exit strategy.

This post has been edited by TOS2: Aug 18 2025, 08:25 PM

I just tried using Ryt AI to transfer RM10 into my HLB and immediately rewarded RM1.

like credit card lor...

I redo the same transfer to my GX Bank account 5 times and earn RM 5...

How stupid this promotion is...

you're helping them to train the AI

it is not stupid promo, they encourage u to use AI to transfer. It is great promotion for us to test. I have tested transfer to 5 different bank. all working fine

Does the promo campaign period refer to the bonus interest of 1% or also including the base 3%?

Just completed RM10 x 5 transfer back to my bank account... earn RM5.00 !!!

I can see the appeal of AI. It can be very convenient for a lazy person like me.

This post has been edited by Fantasia: Aug 18 2025, 10:32 PM

What did you ask Ryt AI to transfer? Just say, transfer RM10 to GX Bank, account number 1234000029?

Pay RM10 to SCB xxx12345 ...then only need to click approve

I thought of using AI to create 9 pockets. 8 pockets with Rm182.50 and remaining to last pocket. Didn’t work… it just gave me instructions how to do. It would have been awesome if it worked..

After the first transfer using Ryt AI, can ask Ryt AI to transfer the same amount (if your first transfer is RM10 as well) to the same recipient

is there a way to change their stupid notification sound?

After first transfer. I just ask ai to, repeat last transfer.

Quite impressed with their app so far. Smooth and fast. Hopefully when more people sign up, still smooth and fast, unlike Al-Rajhi app which have issues during daytime since last week.

Overall, better than Atlas Bank Muamalat, KAF Digital and Al-Rajhi that I signed up in last few weeks.

EDIT: Magic numbers below are useless because Ryt is using residual balances. On Day 1 it will seem like rounding up works, but on Day 2 it wont round up. So end results is it evens out..

=================================================================

Magic numbers for you all, based on my understanding.
Will need to confirm the results later..

#1 Ryt Savings Account = 60.84 * 3% / 365 = 0.005 = 0.01

#2 Save Pockets (total 10, for a combined sum of 20k)
20,000 * 1% / 365 = 0.547 = 0.55 is the limit.

So max needed is 0.545 * 365 / 1% = 19892.5 <<< this is the amount needed to be divided across all 10 pockets.
Break it down as follows:
1) Ryt Pocket (aka Pocket 1) = (any amount up to) 19344.94 * 3% / 365 = 1.589 = 1.59
2) Pockets 2-10 = (fixed amount) 60.84 * 3% / 365 = 0.005 = 0.01 x9 = 0.09

Total sum in pockets = 19344.94 + (60.84 * 9) = 19892.5
Total sum in ryt account = 19892.5 (10 pockets) + 60.84 (main) = 19953.34

Final interest gain amounts:
~ 1% bonus = 0.55
~ 3% base = 1.59 + 0.09
=2.23
+ 1 cent from ryt savings account = 2.24 daily for 19953.34 total amount in entire ryt account.

conventional: 19953.34 * 4% /365 = 2.19. Follow my steps and you can get extra 5 cents daily..

This post has been edited by Optizorb: Aug 20 2025, 01:39 PM

how to get invitation code?

Daily interest of RM 2.19 credited at 12.05 am

This post has been edited by brandonkl: Aug 19 2025, 12:15 AM

all my pocket got 2 sen

Noice their interest crediting very very early.. And can confirm this works

No matter the amount as long as below 20k, will confirm get extra 5 cents daily with magic numbers.

This post has been edited by Optizorb: Aug 19 2025, 12:23 AM

This should be pockets 2-10 right?

Ahh yes, i ter-follow my naming scheme. Cause ryt pocket is pocket 0, so my own pocket i start naming from 1-9

This post has been edited by Optizorb: Aug 19 2025, 12:33 AM

RM 0.01 interest earned in main account with RM 60.84.

So it works just like GXBank & Boost Bank.

Saving pockets didn't try yet, wait for fellow mates here report results.

RM182.50 in Save Pocket gets 2 sen per day + 1 sen bonus

This post has been edited by ronnie: Aug 19 2025, 08:01 AM

No annual fee for debit card right?

Tried all pockets and main account with 60.84. All got 1 cent credited. For the bonus interest of 1% based on total saving pockets of 608.4, will give you extra 2 cents resulting in 7.2% p.a. yield for the 608.4 excluding main account of 60.84


This post has been edited by FGG28: Aug 19 2025, 07:15 AM

None at the moment.

Received. Thanks.

This post has been edited by Vickyle: Aug 19 2025, 08:08 AM

The 3% goes to Save Pocket
The 1% Bonus goes to Ryt Pocket

So RM182.50 gets RM0.03 (2 sen +1 sen)

This post has been edited by ronnie: Aug 19 2025, 08:04 AM

So is it 60.84 or 182.50?

when next day no interest. should be less than one month should be. if 50000 people sign up

RM182.50 per Save Pocket

RM60.84 for Main Account (typo)

This post has been edited by ronnie: Aug 19 2025, 02:18 PM

hahha...i've used up 5 invite. u can try go main website and join wait list

follow this, also fail

i just block the small sensor

done registered in less than 5 min no need wait to approve le so fast.

Thank you for doing the maths. Unker feel so dirty exploit like this

When you said Main Account. Did you mean “Ryt Pocket?”

Although we can have 10 pockets, we just create 9, right?

Please don't post your invitation codes here. Thanks.

Is this correct or do I need some rm60.83 in the top main account also?


Attached thumbnail(s)

Max pockets allowed is 10. When open account, Ryt pocket already exist and we can create additional 9 for total of 10.

I'm confused. Say I am targeting 1 sen per pocket, is the minimum amount 60.84?

Main account also 3% interest. So need to put in RM60.84 to get 1 sen.

RM60.83 will mean RM0.00499972 daily. Will it be rounded up to RM0.005?

it will become 0.01, rounded up from 0.005.

60.84*3%/365 = 0.00500054794

This post has been edited by Skeuomorphic: Aug 19 2025, 12:21 PM

anyway alternative just dump in my alrahji...no complex calculation just pure 3.3% pa daily compoundd ; monthly payment

False. False. False. False.

yup. we create 9 pockets on our own.

Main savings account and Ryt pocket are incorrect.

The other pockets are correct. Just follow what I have given.

Updates from my side:

182.50 indeed yields 3 cents (2 in saving pocket, 1 cent in Ryt pocket).

The problem is you can't do this for all 10 saving pockets, because of the way Ryt calculates the bonus interest, i.e., they lump everything together to compute the 1% bonus interest.

If we were to follow their interest calculation example in the bonus interest T&C: https://www.rytbank.my/bonus-interest-campaign

Then they will lump all 10 saving pockets' money together to count the 1% bonus interest, which means 182.50*10*0.01/365 = 0.05 which will NOT be rounded to 0.1

Recall in the ONE pocket case, we have 182.50*0.01/365 = 0.005 which gets rounded up to 0.01, but multiply that by 10 saving pockets and the aggregate interest of 0.05 exceeds 0.01, so you won't get 0.1 but 0.05 only.

This difference means the effective rate is now (0.2+0.05)*365/1825 = 5% p.a. instead of 6% p.a. (Previously effective rate is (0.2+0.1)*365/1825 = 6% p.a.) That 0.005 MYR can cause a 1% drop in effective rate.

That said, I only tried with one saving pocket yesterday, so I am not sure if they count the saving pockets interest in one lump sum or separately. Other sifus and users can confirm that?

--------------------------------

This method sure works better, with the only risk that the 0000000547... gets carried forward long enough to complicate the daily calculation many months/years down the road. There is no official source on how many decimal points they keep. Examples show 6-7, but no black and white.

This post has been edited by TOS2: Aug 19 2025, 12:59 PM

max 20k in saving pocket to earn extra 1%? what is the max for the 3%?
what this campaign end or any pool limit?

This post has been edited by silverong: Aug 19 2025, 12:59 PM

I already confirmed it.


you are overcomplicating things dy bro..
Dont need to care until 6-7 decimal places all la..

Just do the usual, round it up at 3rd decimal place..



This post has been edited by Optizorb: Aug 19 2025, 01:06 PM

You confirm they merge together or count separately? Too many replies here paiseh

So cannot put 182.50 for per saving pocket * 10 pockets?

FYI, I don't put till the max 20k, just the necessary amount to earn 6-7% p.a.

This post has been edited by TOS2: Aug 19 2025, 01:06 PM

Yes counted separately. 3% base interest is its own calculations, and 1% bonus interest is calculated separately..

Main account + ALL pockets = base rate of 3%. That is why 60.84 works.

1% bonus rate for savings pocket = sum of all pockets



This post has been edited by Optizorb: Aug 19 2025, 01:13 PM

yes. high risk of money lost when money transfer in and out. this problem since old system. experience once is more than enuf. if u refer to forum, people already start complaining for last 2 days.

hey bro i follow u make the 10 pocket is 19892.5
then the main account can i left remaining 10k+ in there . just for take usually 3%

I'm interested to try this, anyone has an extra invitation code? Thanks.

Any referral code to share? Or we just sign up. I thought it's not officially launched yet

now open for those join waiting list. go to FB- https://www.facebook.com/rytbankmy
a lot of people post their code. each limited to 5 invite. hurry while stock last

Can. But if you have somewhere else to park the 10k+ will be better. Either Atlas for 3.88% or GO+ for 3.3%..

If dont have those or already maxed out those, then yeah can put in main account for daily 3% base rate..

hhaha atlas 3.88 masih jalan .

maybe go back boost bank 3.5 % tunggu

Sign up was quick. User interface not the best, think GX has a better UI.

AI has alot of learning to do..

But so far still alright. Let's see how the calcs go.

anytime better than RIZE / Alraji.. that until today still churning and turning and turning...

RYT is quite fast for a newbie.