GX Bank vs Ryt Bank in Malaysia: Which Should You Choose?
Rates, app ratings, features and real user reviews, compared side by side so you can pick the right digital bank.
Quick verdict
- Pick Ryt Bank if you spend by card or pay bills by JomPAY and want the highest rate (up to 4.0% p.a.) and the best-rated app.
- Pick GXBank if you prefer a simple flat rate, fixed-term Bonus Pockets, or need a business account.
- Both are licensed by Bank Negara Malaysia and PIDM-protected up to RM250,000.
Side-by-side comparison
| GXBank | Ryt Bank | |
|---|---|---|
| Launched | 2023 | 2025 |
| Backed by | Grab-led consortium | YTL Digital Capital and Sea Limited |
| Users (bank's own claim) | Over 1 million | 1.5 million |
| Base savings rate | 2.00% p.a. (reported; shown in app) | 2.05% p.a. |
| Higher rate | Bonus Pocket, fixed tenure | 4.0% p.a. on first RM20k (stamp card) |
| Business account | Yes | Not listed |
| Credit | FlexiCredit personal loan | PayLater |
| Account opening | No more than 4 minutes (bank's claim) | As fast as 2 minutes (bank's claim) |
| PIDM protection | Up to RM250,000 | Up to RM250,000 |
Savings: where your money earns more
On paper Ryt wins. Its base rate is a touch higher, and the 4.0% bonus on the first RM20,000 is the best headline rate in Malaysian digital banking. But you have to earn it: one stamp per day for a card payment or JomPAY bill of at least RM10, then 30 days of bonus once the card is full.
GXBank keeps things simpler. You get daily interest on everything, and if you can leave money alone for a few months, a Bonus Pocket pays more. Withdraw early and you lose the bonus, though the base interest stays yours.
“Gxbank lowest at 2% by default, unless you go for their FD-style tabung where you can lock in 3.7% rate for keeping your money for certain period.”
u/coffee-noob1 · r/MalaysianPF · Aug 2026
The rate quoted by this user is their own report from August 2026. Check current Bonus Pocket rates in the GXBank app.
App ratings head to head
| GXBank | Ryt Bank | |
|---|---|---|
| Google Play | 4.2★ (13,203 ratings) | 4.6★ (9,023 ratings) |
| App Store | 4.2★ (4,920 ratings) | 4.8★ (4,989 ratings) |
| Downloads (Play) | 1M+ | 1M+ |
| 5★ share (Play) | 74% | 85% |
| 1★ share (Play) | 18% | 6% |
GXBank has been around longer and has more ratings, including early launch-day complaints about registration. Ryt arrived later with a very polished app, and its share of 1-star ratings is about a third of GX's.
What users say about each
GXBank
“So far I found out that this is the best bank.”
5★ · AtiRif · Apple App Store · 21 May 2024
“Hi, so far my experience using this app seems pretty seamless.”
4★ · nhazirah · Apple App Store · 14 Apr 2024
“now I have to turn off developer option to use the app? Other tradition banking e-banking doesn't require this”
1★ · Google Play user · Google Play · 15 Aug 2026
Ryt Bank
“Ryt Bank is the fastest online transaction in all types. Be it online transfer, QR payment and receives or day to day transactions.”
5★ · App Store user · Apple App Store · 24 Oct 2026
“Pretty good overall. UI not as nice as GX Bank.”
u/Tieraslin · r/MalaysianPF · Sep 2025
“Why is the app keep crashing even after reinstall it?”
1★ · App Store user · Apple App Store · 24 Oct 2026
Notice that one user prefers GX's design. Taste varies, and both apps have fans. The recurring GX complaint in 2026 is around login, including a new rule that blocks phones with Android developer options switched on. For Ryt, it's support and the odd crash.
Pros and cons
GXBank
- + Simple flat daily interest
- + Fixed-term Bonus Pockets
- + Business accounts and FlexiCredit
- − Lower base rate
- − More login complaints in recent reviews
Ryt Bank
- + Up to 4.0% p.a.
- + Highest-rated app
- + Apple Pay
- − Bonus needs regular spending
- − Bonus capped at RM20,000
Want the full picture on Ryt? Read our Ryt Bank review. Comparing more banks? See which digital bank is best in Malaysia.
FAQ
Which pays more, GXBank or Ryt Bank?
Ryt Bank: 2.05% p.a. base versus GXBank's reported 2.00%, and up to 4.0% p.a. on the first RM20,000 if you complete Ryt's stamp card. GXBank's Bonus Pockets pay more than its base rate if you lock money in for a fixed tenure.
Is GXBank or Ryt Bank safer?
Both are licensed by Bank Negara Malaysia and both protect deposits through PIDM up to RM250,000 per depositor, so the regulatory protection is the same.
Which app is rated higher?
Ryt Bank. On 28 October 2026 it had 4.8 on the App Store and 4.6 on Google Play, versus 4.2 on both for GXBank.
Can I open a business account?
GXBank offers business accounts and FlexiLoan business financing. Ryt Bank's website does not currently list a business account.
Can I use both?
Yes. Many users keep up to RM20,000 in Ryt for the bonus rate and use GXBank pockets for other savings.
Sources
- gxbank.my, rytbank.my (28 Oct 2026)
- Google Play and Apple App Store, Malaysia (28 Oct 2026)
- r/MalaysianPF, r/MalaysianPF (Ryt thread)
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