RYT Bank Malaysia Review (2025): Safe, Legal & Earn Up to 4.00% p.a. Daily Interest

Digital banking in Malaysia is evolving faster than ever, with more consumers shifting from traditional branches to AI-powered online banking. Among the new entrants, YTL Digital Bank Berhad – RYT Bank is quickly gaining attention as a strong contender for the best digital bank in Malaysia 2025 — thanks to its high interest rates, low fees, and fully automated app experience.

As Malaysia’s first fully AI-powered bank, RYT Bank offers smarter security, faster onboarding, and real-time financial insights. Many Malaysians are now comparing RYT Bank’s rates and features against Maybank, CIMB, and other established institutions to see whether the RYT Bank interest rate, AI tools, and digital-only model are worth the switch.

This guide breaks down everything you need to know about RYT Bank Malaysia, including its safety, regulation, interest rates, features, fees, and how it compares to other digital banks in Malaysia.

Quick Answer — Is RYT Bank Good for Malaysians?

What Is RYT Bank? (Malaysia’s First Fully AI-Powered Bank)

RYT Bank enters the market as one of the most advanced digital bank Malaysia 2025 offerings, designed for users who prefer smart, mobile-first financial tools. RYT Bank has been widely covered by major Malaysian outlets such as The Star, The Edge, and iMoney, highlighting its AI-first approach to onboarding, security, and automation.

Unlike conventional online banks that simply move existing services onto an app, RYT Bank integrates end-to-end AI automation — from onboarding and fraud detection to personalised financial insights and automated savings optimisation. This makes RYT Bank one of the most advanced financial platforms in the region, offering Malaysians a seamless, intelligent banking experience powered entirely through mobile.

The Powerhouse Backing RYT Bank

To build trust immediately with Malaysian users, RYT Bank is created through a strategic joint venture between two giants:

✔ YTL Group (Malaysia)

A respected Malaysian conglomerate with decades of experience in utilities, telecommunications (YES 5G), infrastructure, and digital transformation.

✔ Sea Limited

The parent company of Shopee and Garena, two of Southeast Asia’s most influential technology brands.

According to reports from The Edge Malaysia and The Star, the joint venture between YTL Group and Sea Limited is one of the most significant technology–finance collaborations in Malaysia’s digital banking rollout. It is giving RYT Bank unmatched credibility, financial stability, and innovation capability.

Is RYT Bank Safe & Legal in Malaysia?

RYT Bank is designed to meet Malaysia’s strict digital banking regulations and incorporates strong security controls to protect users. Here’s a detailed breakdown of its safety profile.

1. Regulatory Compliance (Bank Negara Malaysia)

RYT Bank operates under the Bank Negara Malaysia Digital Banking Framework, following rigorous standards for governance, risk management, capital requirements, and customer protection.

This ensures:

• compliance with financial laws
• oversight by Malaysia’s central bank
• transparent operations under a licensed framework

RYT Bank operates under the Bank Negara digital banking license guidelines, ensuring full compliance with governance, capital, and consumer protection standards.

2. Security & Fraud Protection (AI-Driven)

RYT Bank uses advanced security systems powered by AI, including:

• Two-factor authentication (2FA)
• Biometric login (face ID / fingerprint)
• AI-powered fraud detection in real time
• End-to-end encrypted data
• Device binding for app access

These layers protect accounts from unauthorized access, fraud, and identity theft.

3. Deposit Safety (PIDM Coverage)

Deposits may be insured up to RM250,000 per depositor if placed with a PIDM member bank under RYT Bank’s operational structure.

This provides:

• protection during bank failure
• guaranteed reimbursement up to RM250k
• confidence for savings and emergency funds

(Always check the latest coverage on RYT’s website as digital banks often partner with licensed banks for PIDM protection.)

Verdict: Is RYT Bank Safe?

Yes.
RYT Bank meets BNM’s digital banking requirements, uses strong AI-driven security measures, and may offer PIDM protection through partner structures. Combined with the backing of YTL Group and Sea Limited, it is a trustworthy option for Malaysians seeking a secure digital bank.

RYT Bank Key Features

RYT Bank focuses on giving Malaysians a smarter, more flexible way to save, spend, and borrow:

• Mobile-first savings with high interest via RYT Save Pockets
• RYT AI for smart financial insights, spending analysis & automated savings
• PIDM-insured deposits up to RM250,000 per depositor
• Instant transfers via DuitNow & QR Pay
• Switchable debit/credit Visa card with 0% FX (promo) and cashback perks
• Integrated PayLater facility (0% interest if repaid within 1 month)
• Low fees and nationwide ATM access
• Make instant cashless payments using DuitNow QR across participating merchants nationwide

What Is RYT AI?

RYT AI is the bank’s built-in artificial intelligence engine that powers security, insights, and automation across the entire app. It helps users manage money smarter and safer.

• AI Security: Real-time fraud detection, behavioural monitoring, and device risk scoring.
• AI Insights: Automated spending analysis, bill reminders, and personalised saving suggestions.
• AI Automation: Daily interest optimisation, round-up savings, and auto-categorisation of transactions.

RYT Bank Products & Features (Malaysia, 2025)

A. Savings Account & Interest Rate

One of the biggest reasons Malaysians are switching to RYT Bank is its strong suite of digital products — including the high-interest RYT Save Pockets, the dual-function RYT Card, and the flexible RYT PayLater facility. These features are powered by AI-based optimisation and daily interest calculations to help Malaysians save, spend, and borrow more efficiently.

If you’re comparing returns beyond digital savings, you can also check our guide on the best fixed deposit rates in Malaysia for more long-term options.

1. Daily Interest Crediting (Standout Feature)

RYT Bank calculates interest every single day and credits it once the accrued amount reaches RM0.01. This makes your savings grow faster compared to traditional banks that only credit monthly interest.

2. Ryt Save Pockets – Promotional Interest Rate: Up to 4.00% p.a.

RYT Bank currently offers a promotional rate of up to 4.00% p.a. on Save Pockets, broken down as:

• 3.00% p.a. base rate
• +1.00% p.a. bonus rate
• Applies to the first RM20,000
• Valid until 30 November 2025 or until promo quota is fully reached

This is one of the most competitive interest rates among Malaysian digital banks in 2025.

3. No Lock-In Period

There is no fixed tenure, no penalty for early withdrawal, and no minimum period required. You can move funds in and out of Save Pockets instantly — ideal for emergency funds, short-term savings, and fast-growing deposits.

B. RYT Card (Visa Debit + Credit Combo)

The RYT Card is one of Malaysia’s first dual-function Visa cards, combining both debit and credit functionalities within a single physical card — all controlled through the RYT Bank app.

1. Switchable Debit/Credit Modes

You can enable or disable debit and credit modes instantly through the app. This gives you full flexibility for:

• Daily spending (debit)
• Overseas transactions (credit)
• Online purchases (switchable for security)

2. Travel Perk: Unlimited Cashback + Zero FX Fees

RYT Bank also rewards frequent travellers by offering unlimited 1.2% cashback overseas with no cap.

• Unlimited 1.2% cashback overseas for all international retail transactions
• 0% foreign transaction fee during the promo period (until 30 Nov 2025)
• Accepted worldwide via Visa global network

This positions the RYT Card as one of the best AI-managed travel cards in Malaysia.

3. Local Perk: Free MEPS Cash Withdrawals

RYT Cardholders enjoy:

• Free ATM withdrawals nationwide via MEPS
• Access to more than 10,000 MEPS ATM machines nationwide with zero withdrawal fees.
• No annual fee, no card order fee

A great advantage for Malaysians who want a fully digital bank but still need occasional cash access. For travellers who want even more perks, you may also consider our list of the best credit cards with free airport lounge access in Malaysia.

C. RYT PayLater (Instant Credit up to RM1,499)

RYT PayLater is RYT Bank’s AI-powered credit facility designed for fast, flexible spending without the penalties found in traditional financing.

1. Instant Credit Approval (Up to RM1,499)

Approved users receive an immediate credit line up to RM1,499, usable for:

• Online purchases
• In-store payments
• DuitNow QR transactions

Approval is AI-driven — fast, paperless, and fully digital.

2. 0% Interest if Paid Within 1 Month

RYT PayLater offers:

• 0% interest if the full amount is paid by the next billing cycle
• No late fees, making it safer and more transparent than typical BNPL products

3. Cashback on DuitNow QR Payments

Users earn cashback when using RYT PayLater for DuitNow QR transactions, making everyday spending more rewarding.

4. Flexible Instalment Plans

If you prefer instalments, you can convert your balance into:

• 3-month, 6-month, 9-month, or 12-month plans
• Interest applies only if you choose instalments after the 0% period

This provides flexibility for larger purchases without the high charges of traditional credit cards.

RYT Bank Malaysia savings dashboard featuring daily interest crediting on Save Pockets.

RYT Bank Fees & Charges (Malaysia)

RYT Bank Interest Rates Summary

How to Open an RYT Bank Account

1. Download RYT Bank app
2. Register with mobile & email
3. Complete eKYC (What you need: MyKad, active mobile, liveness scan)
4. Verify identity
5. Deposit funds
6. Start using your account instantly

Setup takes 5–7 minutes.

Pros & Cons of RYT Bank

RYT Bank vs Traditional Banks in Malaysia

RYT Bank wins for digital convenience and high yield, while traditional banks still win for branch support.

RYT Bank vs Other Digital Banks in Malaysia (2025)

Here is a quick comparison between RYT Bank and other major digital banks in Malaysia, based on interest rates, card perks, and Islamic banking availability.

For deeper comparisons, you may read our full review of GXBank.

FAQs — RYT Bank Malaysia

What is the interest rate for RYT Bank’s savings account?

RYT Bank offers up to 4.00% p.a. on its Save Pockets during the promotional period (3.00% base rate + 1.00% bonus rate). The bonus applies to the first RM20,000 and is valid until 30 November 2025.

Is RYT Bank legal in Malaysia?

Yes. RYT Bank operates under Bank Negara Malaysia’s Digital Banking Framework and is backed by YTL Group and Sea Limited.

Is RYT Bank safe?

Yes. It uses bank-grade security, AI fraud monitoring, 2FA, encryption, and biometric authentication. Ryt Bank is a PIDM member; deposits protected up to RM250,000 per depositor.

Does RYT Bank support DuitNow?

Yes — it supports DuitNow ID linking, transfers, and DuitNow QR payments.

What is the RYT Card?

A single Visa card with dual functionality — you can switch between debit and credit modes in the app. It also offers 0% FX fees (promo) and unlimited cashback on overseas spending.

Does RYT Bank have Islamic banking?

Not yet. There has been no official announcement of Islamic-compliant accounts.

What is RYT PayLater?

A built-in credit facility offering up to RM1,499 instant credit, with 0% interest if paid within one month. It also rewards cashback on DuitNow QR transactions.

What is RYT AI?

RYT AI is RYT Bank’s built-in artificial intelligence engine that powers smart features such as spending insights, automated savings, real-time fraud detection, transaction categorisation, and personalised financial recommendations. It helps Malaysians manage money more efficiently with minimal manual input.

Final Verdict: Should Malaysians Use RYT Bank?

RYT Bank is one of the most compelling digital banking options in Malaysia for 2025. With high interest rates, AI-powered features, daily interest crediting, free ATM withdrawals, and strong travel perks, it offers more value than most traditional banks. Backed by YTL and Sea Limited, it delivers both innovation and trust — making it especially attractive for young professionals, students, digital natives, online shoppers, and frequent travellers.

If you want a fast, smart, and flexible digital banking experience, RYT Bank is absolutely worth trying.

Sources & References

Information in this review is supported by publicly available data from reputable Malaysian financial and news outlets, including:

• Bank Negara Malaysia (BNM) — Digital Banking Framework and regulatory guidelines
• PIDM Malaysia — Deposit protection structure and RM250,000 coverage information
• The Star — Coverage on Malaysia’s digital banking landscape and new bank launches
• The Edge Malaysia — Reports on YTL Group and Sea Limited’s digital bank joint venture
• iMoney Malaysia — Comparisons and analysis of Malaysian digital banking products
• RYT Bank Official Website — Product features, interest rates, and promotional terms

All financial rates and promotional details are accurate at the time of writing. Users are encouraged to check the latest updates directly on the bank’s official website.