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

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.

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

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

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

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...

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

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.

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

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

How stupid this promotion is...

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?

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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

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

You liked my post and you ask me again?

60.84 * (10 pockets + 1 main account) is surely going to work with returns of approximately 7% p.a., as shown in FGG288's post.

I will test with the 182.50 * 10 saving pockets tomorrow, results coming out on Thursday morning and will update you again by then.

This post has been edited by TOS2: Aug 19 2025, 04:12 PM

I have 3 more invite codes on my side. For those interested.

From my side:

Place 18/8/2025
1 x Save Pocket RM182.50
Interest received = RM0.03
Rate of Return = 6%

Place 19/8/2025
Still the same 1 x Save Pocket RM182.50
Total Interest received = RM0.01
Rate of Return = 2%

The funny thing is the average is 4% haha

The accountant has spoken, indeed I think the same too. You earn more today, you earn less the next day.

The ridiculous thing is their system allow such borrowing of 0.00X amount from one day to the next. Such short-term borrowing is unheard of in any digital bank. Either you round up interest or you truncate at a certain decimal point.

Coupled with their AI thingie, one day sure will have problem down the road. Can complain to BNM? Or maybe ask Ryt AI why you give me less interest today?