GXBank Campaign To Offer 5% p.a. Daily Interest On Pockets Deposits, T&C Officially Out

Alex Cheong Pui Yin

5th April 2024 - 2 min read

GXBank will be running a campaign that allows customers to earn 5% p.a. daily interest on deposits that are made via its Pockets feature, in conjunction with the upcoming Hari Raya celebrations. Set to run from 10 April to 9 May 2024, the official terms and conditions document for the campaign has also been released.

Open to all GXBank customers, you can earn the promotional interest for the first RM5,000 end-of-day balance in each Pocket that you create, calculated as 3% p.a. (base interest) + 2% p.a. (bonus interest). Subsequent amounts beyond the first RM5,000 balance will continue to earn the base 3% p.a. daily interest. Here’s a table from GXBank to quickly summarise this:

GXBank also clarified that the base and bonus interest for the eligible amount of RM5,000 will be credited in two postings (“Interest earned” and “Raya interest earned”), which will also be clearly reflected in your statements. This will be calculated at the end of each day.

Each customer is allowed to create up to 10 Pockets to maximise the perk offered via this campaign, as that is the maximum number of active Pockets that you can create under your GXBank account. Do also be aware that GXBank has set a maximum capping of RM1 billion on the total placements that it will accept for this campaign on a first-come first-served basis – so you’ll have to act fast!

If you’d like to participate in this campaign, simply fire up your GXBank app and tap on “Savings Pockets”, followed by “Create” and “Add Money” to start. Alternatively, those who already have existing Pockets can add more funds up to RM5,000 to earn the promotional 5% p.a. daily interest.

GXBank had previously stated that the rollout of this initiative is in line with its aim to encourage Malaysians to continue saving money, even as they prepare for the upcoming festivities. More importantly, they can optimise their savings and enjoy accelerated growth on their funds.

(Source: GXBank [1, 2, 3])

5 3 votes

Article Rating

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

See all articles