Rize, the digital bank backed by Al-Rajhi Bank, has announced that it will be extending its current Rize Deposit campaign to continue running until 31 March 2024. Originally slated to end on 31 December 2023, there will also be some updates to the campaign details, such as the promotional profit rate, which are set to take effect from 1 January 2024.

Under Rize’s updated deposit campaign, customers will be entitled to enjoy a special profit rate of 4% p.a. on any amount that is deposited into their Commodity Murabahah Savings Account-i come the new year. This is in comparison to the current promotional rate of 5% p.a., which is applicable only to the first RM5,000 deposited; subsequent amounts (RM5,001 and above) will net you 4% p.a..

Rize further highlighted that profit earned via the campaign will be credited to the eligible customer’s account on the first day of the following month. This means that those who participate in the campaign starting in January 2024 will receive their profit payout for the month on 1 February 2024, and so on and so forth.

If you’re interested in tapping into this campaign, you can download the Rize digital banking app for free from Google Play, the App Store, or the Huawei AppGallery. Once done, go ahead and register for an account to start depositing funds. The app also comes with other features, such as Savings Pot (a goal-based savings facility) and Personal Financing-i facility.

(Source: Rize)

• TAGS:
• Al-Rajhi Bank
• Digital Bank
• Digital Banking
• Digital Banks
• Rize
• Rize Commodity Murabahah Savings Account-i
• Rize Savings Account-i
• Rize Savings Pot