Deposit your money with Boost Bank and enjoy up to 3.50% p.a. interest on your deposits!
Boost Bank has been granted a digital banking license by the NBP, with Boost Holdings holding 60% of Boost Bank and RHB Bank holding 40%.
According to Boost Bank’s official website, Boost Bank also has Digital Savings Account and Savings Jar like any other digital bank.Digital Savings Account is a regular savings account, while Savings Jar allows users to set a specified Digital Savings Account is a regular savings account, while Savings Jar allows users to set specific goals and deposit money into it. Designated goals include saving for a car, traveling, buying gifts, investing, and so on.
Boost Bank will be using the Loyalty Tier model, where Basic Tier tiers can only enjoy lower interest rates on deposits, while Platinum Tier tiers can enjoy higher interest rates. To upgrade from Basic Tier to Platinum Tier, you have to deposit at least RM2,000 in the account and you have to deposit for at least 25 days in a month.
If you are depositing money into Digital Savings Account and you belong to Basic Tier, you can only enjoy 0.50% p.a. interest on deposits, while Platinum Tier can enjoy up to 2.50% p.a. interest on deposits.
As for depositing your money in Savings Jar, Basic Tier users are entitled to up to 1.50%p.a. interest on deposits and Platinum Tier users are entitled to up to 3.50%p.a. interest on deposits.
Attention! Interest will be calculated on a daily basis, though it will be paid out as Weekly interest on deposits.
