Boost Bank Opens Public Voting for Debit Card Design Ahead of Launch

Boost Bank Opens Public Voting for Debit Card Design Ahead of Launch

by May 27, 2024

Boost Bank is inviting the public to vote on two debit card designs—the vibrant red card or sleek black card. Voting is open online, and the chosen design will be featured on the bank’s debit cards.

The digital bank is gearing up for its launch next week, becoming Malaysia’s third digital bank following Grab’s GXBank and AEON Bank, the nation’s first Islamic digital bank.

Boost Bank‘s launch will include a range of offerings such as a standard savings account, a Savings Jars feature to help customers save for specific goals, and a debit card with exclusive perks and rewards.

The Digital Savings Account (DSA) offers interest rates based on loyalty tiers. Basic tier accounts earn a standard interest rate of 0.5% per annum, while Platinum tier accounts can earn up to 2.5% per annum.

Customers can also create up to eight Savings Jars, each with personalised goals and target dates, earning interest rates up to 3.2% per annum.

They can attain Platinum President status by maintaining a minimum balance of RM 2,000 for 25 days within a calendar month.

This status offers premium benefits, including higher interest rates on savings. If the balance requirement is not met, the status will be downgraded to Basic, but it can be regained by meeting the criteria in any subsequent month.

It is worth noting that accounts not activated within two months will be closed while dormant accounts will incur an annual charge of RM 10.

Boost Bank’s deposits are protected up to RM 250,000 under Perbadanan Insurans Deposit Malaysia (PIDM).