Source :
BoltAI :
Digital bank GXS has announced a reduction in interest rates for its Main Account and Savings Pocket, effective from 6th August 2025. The Main Account rate will drop from 1.68% to 1.08% p.a., and the Savings Pocket will decrease from 1.98% to 1.38% p.a. Despite the lack of a lock-in period for Savings Pockets, the new rates are considered unattractive.
GXS also offers a Boost Pocket, similar to fixed deposits, with 1-month and 3-month tenures providing 1.58% p.a. interest. However, the 1-month option is less appealing compared to the current Savings Pocket rate until 6th August 2025.
Additionally, GXS users can receive extra cashback by signing up with a specific code, offering 6% cashback on local and overseas spending on top of randomized cashback for eligible transactions.
The rate cuts have been viewed as drastic, and users are encouraged to explore alternatives. Other banks may offer higher interest rates with conditions like salary crediting and card spending. The article suggests staying informed about more competitive options through various communication channels.
No comments:
Post a Comment