Referring to GXBank official website. They will be offering 5% daily interest rate from 10 April to 9 May 2024 via the Saving Pockets function. Big wake up call for conventional banks.
@sprinter1970 My advice is to just milk the shit outa these promos as more digital banks launch, same like when e wallets and e-commerce started here, all promos and freebies until left with 1-3 winners. We as consumers just reap the benefits first
@debwater Why would one choose other bank, if GX can offer liquidity, daily compounded interest and 5% interest with same 250k PIDM assurance. I understand it’s just a temporary promotion to attract funds, but why not rip the benefits while we can. To me it’s the perfect place for emergency fund. I honestly don’t really care who wins out of this, as long as there are new players that could stir up the competition, we consumer will always be the winner.
@sprinter1970 They are just trying the build their deposit base using this promotion, once they reach their target, watch them drop rates by a lot just like in SG, I won't be surprised if people here complain about the rates in the next couple of months when this happens or perhaps even earlier with this promotion
@011235813 3% on 250k gives rm20 a day. 5% on 250k gives rm34 a day. Rm34 a day, is enuff to pay my parking, lunch, petrol....every day for a month...why not?
@scarletrozes daily compounding vs non daily compounding is like rm300+ per year diff with a 250k deposit. now if you have 25K deposit that shrinks even more.
seriously, do the math before jumping on the next marketing gimmick.