Malaysians are now spoilt for choice when it comes to digital banks, and the digital bank savings rate on offer is becoming a big reason to pick one over another.
GXBank, Boost Bank, AEON Bank, Ryt Bank and KAF Digital Bank are all in the market, giving savers more places to park their money without opening a traditional branch-based account.
The sector is no longer just about new app launches either.
By the end of 2025, Malaysia’s digital banks had collectively served 2.4 million customers and held RM4.2 billion in deposits, according to Bank Negara Malaysia.
Around 65% of their customers came from unserved and underserved groups, including low-income households, gig workers and youth.
Now, as the first wave of digital banks moves beyond customer acquisition, pricing is also starting to reflect a bigger focus on profitability and unit economics.
The shift helps explain why some headline offers have become more conditional, or why base rates have been revised lower.
With more Malaysians using these banks, deposit returns are becoming a bigger part of the comparison.
Some digital banks pay a simple daily rate on normal savings. Others offer higher returns only when money sits inside a pocket, jar or pot.
A few headline rates also come with campaign periods, spending requirements or balance caps.
The digital bank savings rate in Malaysia, therefore, cannot be judged by the highest number alone.
Savers need to know how much they can earn, where the money needs to sit, and what conditions apply.
Here are the current savings rates, profit rates and hibah information for Malaysia’s five digital banks.
Malaysia Digital Bank Savings Rates at a Glance
Last Updated: 25 June 2026
GXBank Keeps the Basic Rate Simple
GXBank is one of the easier digital banks to understand from a savings point of view.
Its main savings account gives 2.00% p.a. daily interest with no minimum balance, no lock-in period and no stated balance limit. Savings Pockets also earn the same 2.00% p.a. daily interest as the main account.
The rate used to be higher. GXBank reduced the daily interest rate for Main Accounts and Savings Pockets from 3.00% p.a. to 2.00% p.a. from 1 October 2024, after onboarding more than 800,000 users in its first year.
Users who want a higher return can look at Bonus Pocket. GXBank currently offers 3.18% p.a. for a 3-month tenure and 3.55% p.a. for a 6-month tenure, inclusive of the 2.00% p.a. base rate.
The trade-off is flexibility.
GXBank says users can withdraw early, but they will forfeit the accrued bonus interest. The daily 2.00% p.a. base interest already credited remains theirs.
Boost Bank Offers a Higher Rate, But the Best Jar Needs Spending
Boost Bank’s basic savings account currently pays 2.50% p.a. daily interest, which is a little bit higher than GXBank’s basic rate.
Money placed into Savings Jars can earn 3.00% p.a. daily interest. Boost Bank also has Special Jars, where promotional rates can go higher depending on the campaign.
The highest rate currently shown comes from the BoostUP Jar, which offers 4.00% p.a. daily interest.
Users need to spend at least RM500 monthly with Boost Wallet to maintain access to the BoostUP Jar. The BoostUP Jar also has an RM3,000 deposit cap.
AEON Bank’s Best Rate Sits Inside Savings Pots
Another player in the comparison is AEON Bank, which takes a different route as an Islamic digital bank. Its returns are structured as profit rates rather than conventional interest.
Its Savings Account-i has a prevailing profit rate of 0.25% p.a., but Savings Pots currently offer a promotional profit rate of 3.00% p.a.
The promotion page states that the 3.00% p.a. Savings Pot campaign ends on 31 August 2026.
Savers will get more value from the Savings Pot than the main account while the promotion is active. Leaving money in the main Savings Account-i would mean earning a much lower prevailing profit rate.
AEON Bank also allows users to create up to 20 Savings Pots, which may appeal to people who like to separate money for different goals.
The promotional rate is fairly straightforward, too, since users do not need to meet a card spending requirement to earn it.
The main thing to watch is the promo period. After the campaign ends, the rate may change.
Ryt Bank Offers 4.00% p.a., But Users Need to Unlock the Bonus
Ryt Bank is a slightly unusual case in this comparison.
The digital bank gained traction quickly after launch, reaching 1.2 million users in just over seven months.
During that time, it had also processed more than 25 million transactions, with monthly transaction volume rising more than 35 times since launch.
Back in November 2025, Ryt Bank was still maintaining a 4.00% p.a. savings rate through Save Pockets, with users able to keep earning the boosted rate by using the Ryt Card or making JomPAY payments.
The structure has since changed.
Under the revised campaign, it still maintains the rate up to 4.00%, but the bank now gives users 2.05% p.a. base interest, plus 1.95% p.a. bonus interest on the first RM20,000 across Save Pocket balances, rather than the 3.00% p.a. base and an additional 1.00% p.a. bonus.
The campaign is also capped at RM300 million in total deposits across all customers, on a first-come, first-served basis.
Just like the previous deal, the 4.00% p.a. return is not automatic for everyone.
Users need to collect five stamps to unlock the bonus interest for 30 days. Each stamp comes from an eligible transaction, such as Ryt Card spending of at least RM10 or selected JomPAY bill payments of at least RM10.
The campaign runs from 18 June 2026 to 30 September 2026.
KAF Digital Bank Should Be Compared Differently
Rounding out the comparison is KAF Digital Bank, another Islamic digital bank with a savings return that should not be placed in the same bucket as fixed interest rates.
The bank publishes historical hibah for its Savings Account-i. Recent entries show 5.00% p.a. on the first RM2,000 and 3.00% p.a. on balances above RM2,000.
At first glance, this looks like the highest number in the market, but hibah works differently from a guaranteed rate.
Under this structure, hibah is a voluntary and non-contractual gift from the bank.
Depositors may or may not receive it, and financial institutions are not allowed to guarantee or advertise future hibah rates for qard-based deposits (deposits structured as an Islamic benevolent loan, where the bank may return a discretionary gift rather than a contractual rate).
The historical figures are still useful, but readers should treat them as past data rather than a promised return.
So, Which Digital Bank Should You Choose?
Choosing the best digital bank in Malaysia should be more than just about picking the highest percentage.
People looking for the highest stated return may look at Boost Bank or Ryt Bank, since both currently offer up to 4.00% p.a. through selected savings features.
Those who want a simpler savings experience may prefer GXBank or Boost Bank’s basic account, depending on whether they value simplicity or a higher basic rate.
AEON Bank may appeal to users who prefer Islamic banking and want to use Savings Pots during the 3.00% p.a. promotional period.
KAF Digital Bank is interesting because its historical hibah has been high, especially on the first RM2,000. The important word is historical. Hibah is discretionary, so it should not be treated like a guaranteed digital bank interest rate.
The best digital bank interest rate in Malaysia is the return you can realistically earn on the amount you plan to save, without relying on conditions that do not match how you already spend.
FAQs
1. Which digital bank in Malaysia gives the highest savings return?
KAF Digital Bank shows a historical hibah of 5.00% p.a. on the first RM2,000, but hibah is discretionary and not guaranteed.
Among stated promotional or campaign rates, Boost Bank and Ryt Bank currently offer up to 4.00% p.a. with conditions.
Boost Bank’s BoostUP Jar comes with an RM3,000 deposit cap and a monthly Boost Wallet spending requirement.
Ryt Bank’s 4.00% p.a. return applies to the first RM20,000 across Save Pockets, but users need to collect five eligible stamps to unlock the bonus.
2. Which digital bank in Malaysia has the best basic savings interest rate?
Boost Bank currently has the highest basic savings rate among the five, at 2.50% p.a. daily interest on its Savings Account.
Ryt Bank offers 2.05% p.a. base interest under its current campaign, while GXBank pays 2.00% p.a. on its Main Account and Savings Pockets.
AEON Bank’s Savings Account-i has a 0.25% p.a. prevailing profit rate, although its Savings Pot offers a higher promotional profit rate.
3. Which digital bank is easiest to earn interest from?
GXBank is one of the simplest because users earn 2.00% p.a. on the Main Account and Savings Pockets without needing to meet spending requirements.
Boost Bank’s basic Savings Account rate is higher at 2.50% p.a., while Savings Jars offer 3.00% p.a. However, its highest 4.00% p.a. BoostUP Jar rate requires monthly Boost Wallet spending from the second month onwards.
4. Is Boost Bank’s 4.00% p.a. rate automatic?
No. Boost Bank’s 4.00% p.a. rate applies to the BoostUP Jar. Users need to meet the monthly Boost Wallet spending requirement from the second month onwards, and the BoostUP Jar has an RM3,000 deposit cap.
5. Is Ryt Bank’s 4.00% p.a. rate automatic?
No. Ryt Bank’s 4.00% p.a. return combines 2.05% p.a. base interest with 1.95% p.a. bonus interest.
Users need to collect five eligible stamps to unlock the bonus, and the bonus applies to the first RM20,000 across Save Pockets.
6. What does KAF Digital Bank’s historical hibah mean?
Historical hibah means KAF has shown that hibah was paid at that rate in past periods. It is not a guaranteed future return.
KAF’s recent historical hibah table shows 5.00% p.a. on the first RM2,000 and 3.00% p.a. above RM2,000, but hibah remains discretionary.
7. Which Malaysian digital banks are Shariah-compliant?
AEON Bank and KAF Digital Bank are Islamic digital banks.
GXBank, Boost Bank and Ryt Bank are licensed conventional digital banks, so the savings products compared in this article are conventional interest-bearing products.
8. Are digital bank deposits protected by PIDM in Malaysia?
Eligible deposits placed with PIDM member banks are protected up to RM250,000 per depositor per member bank.
However, PIDM protection does not mean every advertised return is guaranteed. Users should still check each bank’s terms, especially for promotional rates, bonus interest and discretionary hibah.
9. Should I choose the digital bank in Malaysia with the highest interest rate?
Not always.
The highest rate may come with spending requirements, balance caps, campaign periods or discretionary hibah.
A better choice is the bank that gives the best return on the amount you actually plan to save, with conditions you can realistically meet.
Featured image: Edited by Fintech News Malaysia based on an image by pick graphics via Magnific.
Infographic images: Edited by Fintech News Malaysia based on an image by altervelt via Magnific and the respective bank websites.
