2.5% p.a. daily interest on your Savings Account
Start your savings journey stress-free with your Savings Account.
3.2% p.a. daily interest on your Savings Jars
Effective 1 Nov 2024
Whether you’re saving for a new car or your next holiday, turn your dreams into reality.
Want to hear the ultimate secret to maximizing your savings?
Unlock Special Jars to start earning 4% p.a. daily interest! Just spend with our eligible partners.
Send & receive money anytime, anywhere.
Link your DuitNow ID with Boost Bank via your mobile number, NRIC or more.
In partnership with
Ready to bank like you never have to? Download the Boost app to get started:
1. Download the Boost Bank app, tap ‘Create Account’ & fill in your details to complete your eKYC journey.
2. You're almost there! Activate your account by tapping 'Activate Now' and transferring as low as RM1 to your Boost Bank account.
3. Enter the amount of money you want to deposit. You may deposit any amount from RM1.00 up to RM9,999.00.
4. Select your preferred bank to perform the transfer & proceed.
5. Success!
Your Boost Bank account is now activated and ready to use. Deposit money into your Savings Account or Savings Jars to start earning interest.
Frequently Asked Questions
- Service Charge – RM0
- Account Closure (User-initiated) – RM0
- eStatement – RM0
- Physical Statement – N/A
- DuitNow Transfers – RM0
- Dormant Account Charges – RM10/year
You will earn the following interest rates:
i) Savings Account: 2.5% p.a. daily interest
ii) Savings Jars: 3.6% p.a. daily interest
iii) Special Jars: 4% p.a. daily interest
To create your Savings Jars, please follow these steps:
1. Go to your Boost Bank account dashboard & tap on 'Jars'
2. Tap on 'Create Jar' & select your preferred Jar based on your savings goals
3. Fill in your Jar details such as Jar name, amount you want to save, target date & initial deposit amount
4. Swipe up to authorise the transaction and you're done!
You can create a maximum of eight (8) Savings Jars per Boost Bank account.
You can unlock Special Jars by fulfilling the criteria for Boost Bank campaigns that offer Promotional Interest Rates.
For more details, view our active campaigns here: https://phpstack-1055575-3699675.cloudwaysapps.com/special-jars
Interest is calculated based on the following formula:
Daily Interest Earned = End-of-day Balance x (Interest Rate / Total Days of the Year)
- Interest earned is computed daily at ten (10) decimal points and paid out daily at two (2) decimal points.
- End-of-day Balance refers to the balance in your Savings Account and/or Savings Jar(s) at 23:59:59 on a given day.
Illustration:
On Day 1, you deposited RM2,000 into your Savings Jar and RM100 into your Savings Account.
Savings Jar
- End-of-day balance = RM2,000
- Interest rate = 3.6% p.a.
- Total days of the year = 366
- Daily interest computation (rounded to 10 decimal points) = RM2,000 x (3.6% / 366) = RM0.1967213114
- Daily interest paid (rounded to 2 decimal points) = RM0.20
Savings Account
- End-of-day balance = RM100
- Interest rate = 2.5% p.a.
- Total days of the year = 366
- Daily interest computation (rounded to 10 decimal points) = RM100 x (2.5% / 366) = RM0.0068306010
- Daily interest paid (rounded to 2 decimal points) = RM0.01
- For Boost Bank Savings Account Terms and Conditions, click here.
- For Boost Bank Savings Account Product Disclosure Sheet, click here.
Download the Boost Bank app to experience true digital banking.
Boost Bank App
Not part of the Boost family yet? Download the Boost Bank app to create your Boost Bank account.
