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Boost Bank
Boost Bank is a Malaysian homegrown digital bank jointly owned by Axiata and RHB. It offers personal savings accounts with up to 3% p.a. daily interest and...
Boost Bank
Boost Bank is a Malaysian homegrown digital bank jointly owned by Axiata and RHB. It offers personal savings accounts with up to 3% p.a. daily interest and Special Jars unlocking up to 4% p.a. daily interest, alongside debit card, personal loan, motorbike loan, insurance, and business financing products. Deposits are protected by PIDM up to RM250,000 per depositor.
General information
Firm type
other
Location
Region
Asia
Country
Malaysia
City
Kuala Lumpur
Corporate office
Kuala Lumpur, Malaysia
Principals
Axiata Group Berhad
Joint shareholder and co-founder
RHB Banking Group
Joint shareholder and co-founder
Sector focus
Frequently asked questions
Who owns Boost Bank?
Boost Bank is a joint venture between Axiata Group Berhad, one of Asia's largest telecommunications groups, and the RHB Banking Group, a full-service Malaysian financial institution. The digital banking license was granted by Bank Negara Malaysia, and the bank operates as a standalone entity with its own board and management.
How does the interest structure on Boost Bank Savings Jars actually work?
Customers earn up to 3% per annum daily interest on funds held in regular Savings Jars. The rate can rise to 4% per annum daily interest on Special Jars, which are unlocked when the customer spends with eligible Boost app merchants. Interest is calculated daily and credited to the Jar balance. The minimum deposit to open an account is RM1.
Are deposits with Boost Bank protected?
Yes. Boost Bank is a member of Perbadanan Insurans Deposit Malaysia (PIDM), the statutory deposit insurance scheme. Deposits are protected up to RM250,000 per depositor, the same coverage limit applied to all licensed commercial and Islamic banks in Malaysia.
What is Boost Bank's relationship to the Boost e-wallet app?
Boost Bank is embedded within the existing Boost app, which was previously a pure e-wallet. Users access the digital bank via a 'Bank' icon inside the Boost app or through the dedicated Boost Bank app. This architecture allows Boost Bank to cross-sell banking products to an already active consumer base without a separate acquisition funnel.
What business lending products does Boost Bank offer, and to whom?
Boost Bank provides term loans and revolving credit facilities targeted specifically at Malaysian micro, small and medium enterprises. The application and servicing are fully digital, and the bank was recognised with the 2025 International Finance Award for Most Innovative New MSME Financing Solutions Provider.
Does Boost Bank operate physical branches?
No. Boost Bank is a fully digital bank with no physical branch network. Customer service and account management are conducted entirely through the mobile app and the support channels accessible via the bank's website.
What personal finance products does Boost Bank offer beyond savings accounts?
Beyond Savings Jars, Boost Bank offers an unlimited 2% cashback debit card usable via physical card and DuitNow QR, motorbike financing loans, and a one-click Protect Plan insurance product. The product suite is designed to serve a mobile-first, mass-market Malaysian demographic directly inside the Boost app.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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