5th March 2026 - 3 min read
Ryt Bank is introducing a Duit Raya referral campaign ahead of the Hari Raya festive season, offering rewards of up to RM99 for both existing users and new customers who successfully sign up through a referral.
The initiative follows the digital bank’s Chinese New Year campaign earlier this year, during which more than 500,000 digital Angpows were distributed to users across Malaysia. Building on that response, the bank is introducing a larger Raya-themed programme designed to encourage users to share rewards with friends and family through its mobile banking app.
Under the campaign, customers can share their personal referral code through the Ryt Bank app. Once the referred user successfully activates their account, both the referrer and the new customer will receive digital Duit Raya.
Unlike a typical welcome bonus that only rewards new users, the campaign is structured as a referral programme where both parties receive a reward after a successful sign-up.
Customers can distribute their referral codes directly through the app, and there is no limit to the number of invitations that can be sent during the campaign period. The Duit Raya rewards are funded by the bank.
Referral-based promotions have become increasingly common among digital banks and financial apps as they compete to attract new users. Festive periods such as Chinese New Year and Hari Raya are often used for these campaigns because users are more likely to share promotions with friends and family.
The campaign also comes as the bank’s mobile platform continues to see increased downloads.
On 22 February 2026, the Ryt Bank app reached the number one position on the Top Free Apps charts in Malaysia on both Apple’s App Store and Google Play. The ranking reflects growing user interest in digital banking apps as more financial services move toward mobile-first platforms.
Digital banks have been expanding their presence in Malaysia in recent years, with institutions focusing on app-based services that allow customers to open accounts, transfer funds, and manage finances without visiting a physical branch.
In conjunction with the festive season, Ryt Bank has extended its savings bonus interest campaign until 30 June 2026. The promotion offers returns of up to 4% per annum, calculated daily, with no lock-in period and the flexibility for customers to withdraw their funds at any time.
The bank is also introducing a cashback promotion tied to its PayLater feature. Customers who activate their Ryt Bank account or apply for PayLater from 6 March onwards may receive 1.2% cashback on PayLater QR payments during the campaign period, capped at RM5 per user.
These initiatives reflect how digital banks are increasingly using promotional campaigns and referral programmes to attract new users while encouraging existing customers to engage more actively with app-based financial services, particularly during festive periods when spending and digital payments tend to increase.
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Samuel writes about personal finance and financial news, focusing on how banking updates, policies, and promotions affect everyday money decisions. He enjoys making complicated financial topics easier to follow. Outside of writing, he spends his time watching TV shows and occasionally convincing himself he will only watch one episode.
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