Aeon Bank’s introductory campaign promo, which provided an attractive 3.88% p.a. profit rate and an effective cashback of 1.5%, has ended on 31st August 2024. The Islamic Digital Bank has finally revealed its normal profit rate for its Savings Account-i and they have also launched a new campaign which starts today.
With the new campaign, users will pay less fees for overseas card transactions and cash withdrawals at overseas ATMs.
Aeon Bank offers 0.88% p.a. Profit Rate for Savings Account-i
The biggest difference is the new profit rate for Aeon Bank’s Savings Account-i and Savings Pot. The Savings Account-i is now offered with a 0.88% p.a. Profit Rate and with the new promotion, Aeon Bank now provides a 3.00% p.a. Profit Rate for their Savings Pot.
To get the most returns, you’ll have to move more funds to the Savings Pot but do note that funds saved in the Savings Pot can’t be utilised for card or DuitNow QR spending. However, you can transfer funds from Savings Pot to Savings Account instantly at any time via the Aeon Bank app.
As a comparison, GXBank currently offers 3.00% p.a. interest rate for both Savings Account and Savings Pockets until further notice. Meanwhile, Boost Bank now offers 2.5% p.a. interest rate for their Savings Account and 3.6% p.a. interest for Savings Jars (4% p.a. for Special Jars) as part of their promo until 31st December 2024.
Take note that Aeon Bank requires a minimum balance of RM20 to maintain the Savings Account. If you deposit RM100, you can only use RM80. The actual spendable amount is reflected on the home screen of the app.
New Aeon Bank promotions effective 1st September 2024
Aeon Bank has also revealed its new campaign which is valid from 1st September 2024 to 31st December 2024. For new users, you’ll receive 1,000 Aeon Points (worth RM5) during sign-up (Previously 3,000 Aeon Points) and a waiver of the Debit Card-i Insurance fee (worth RM12).
Users can sign up for Aeon Bank online from the app which is available on the Apple AppStore and Google PlayStore.
As mentioned earlier, the latest promotion provides customers with a 3.00% p.a. profit rate for deposits made into their Savings Pots.
If you’re travelling overseas, Aeon Bank is waiving its 1% service fee imposed on Debit Card-i transactions outside of Malaysia in foreign currency (both physical in-store and virtual transactions). On top of that, Aeon Bank is providing a RM5 processing fee discount (Usual Fee: RM10 for international ATMs) when you withdraw cash from Visa Plus ATMs overseas.
As we’ve highlighted earlier during our overseas trip, there’s a 2% markup fee when you use your Aeon Bank Debit card for foreign transactions. This consists of 1% transaction fee imposed by Visa and another 1% service fee imposed by the Bank. With this new promo, foreign transactions will be charged 1% instead of 2% and the fee is still lower than most credit/debit cards issued by traditional banks. In case you missed it, Aeon Bank card transactions are now reflected in real-time in the app.
In addition, Aeon Bank Visa Debit Card-i customers can also enjoy free 2-hour parking at participating Aeon Mall outlets when they use their card to enter the carpark. This includes Metro Prima, Cheras Selatan, Taman Equine, Rawang, Melaka, Taman Maluri, AU2 Setiawangsa, Shah Alam, Ipoh Kinta City, Kota Bharu, Bukit Mertajam and more.
Aeon Bank’s 3x Aeon Points per RM1 spending promo has ended as well and users will now earn 1x Aeon Point per RM1 spent. The Aeon Points can be converted into cash instantly into your Aeon Bank Savings Account. With a conversion rate of 200 points = RM1, this is equivalent to a 0.5% cashback.
For more info, you can visit Aeon Bank’s website or refer to the terms and conditions of their latest campaign.
Related reading
- Aeon Bank now makes it easier to view the actual spending balance
- Aeon Bank has fixed the biggest problem with its Debit Card
- Aeon Bank Debit Card-i isn’t great for overseas usage
- Boost Bank: No more tiers, enjoy better interest rates with minimum RM1 deposit
- GX FlexiCredit: GXBank will soon offer flexible credit line with instant approval
Aeon Bank’s profit rate is now 0.88% p.a. Here’s the latest promo until 31st December 2024
News Reports PH
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