Specific Terms and Conditions

SECTION A - SPECIFIC TERMS AND CONDITIONS APPLICABLE TO RYT BANK SAVINGS ACCOUNT

Protected by Perbadanan Insurans Deposit Malaysia (PIDM) up to RM250,000 for each depositor (PIDM Protection).

1. ACCOUNT OPENING

   1. The opening of a Ryt Bank Savings Account (Savings Account) with us is subject to the Bank’s requirements including, without limitation, as to age, capacity, identification documents, account verification requirements, minimum initial deposit, and the minimum account balance to be maintained at all times. The Bank may have different requirements for different legal personalities.

   2. Information on the eligibility requirements, minimum initial deposit and the minimum account balance are available (and may be updated from time to time) in the Schedule hereto, on our App, and/or our website at https://rytbank.my.

   3. The Bank may allow you to open, maintain and operate only one Savings Account in your sole name for personal use. This means that each retail customer can only open one Savings Account at any one time. If the Bank becomes aware that you are maintaining more than one Savings Account, we reserve the right to close and terminate any additional Savings Accounts with notice to you.

   4. An application for a Savings Account is subject to approval by the Bank. You understand and agree that we have sole and absolute discretion to determine whether to provide a Savings Account to you.

   5. We reserve the right to reject any application (including any application that does not fulfil our criteria) and shall be under no obligation to provide any reason for or information in respect of any unsuccessful application.

   6. For account verification purposes, you must fulfil the Savings Account funding requirement within a period determined by the Bank following the date of account opening. Failure to do so may result in closure of your Savings Account.

   7. You agree that you will only use your Savings Account for personal savings purposes. If your Savings Account is used for business purposes or purposes other than for personal savings, the Bank reserves the right to close your Savings Account and/or terminate the provision of any service or product to you.

2. ACCOUNT AND SERVICES

   1. The Savings Account is denominated in Ringgit Malaysia only.

   2. You shall operate and administer the Savings Account in accordance with all applicable laws, rules, and regulations, as well as directives on international and domestic currency transactions including the foreign exchange policy (FEP) administered by Bank Negara Malaysia.

   3. Prior to opening a Savings Account and as and when required, we may require you to provide relevant information and/or documents required for account opening, including to ensure compliance with the FEP and applicable laws and regulations.

   4. Once a Savings Account is successfully opened and you fulfil the Savings Account funding requirement, you may perform fund withdrawals and fund transfers, denominated in Ringgit Malaysia only, to and from the Savings Account. Funds transferred into your Savings Account will be deposited into your Savings Account.

   5. We may also impose a maximum account balance to be maintained in a Savings Account. Information on the maximum account balance, if any, is available on our website https://rytbank.my.

   6. Where a limit has been imposed and the maximum account balance is reached, you agree that:

      1. you are responsible for ensuring that such limit is not reached; and

      2. where such limit has been reached, you agree that we, in our absolute discretion:

         1. need not accept any Instruction or allow any transaction on the Savings Account, which would cause the balance to go above the maximum account balance; and/or

         2. may take any other action to ensure that the maximum account balance is not exceeded.

   7. You agree that the Bank has the discretion to reject any Instruction on, or transaction through, the Savings Account.

3. FEES AND CHARGES

   1. The Bank shall be entitled to impose fees and charges for any of the services provided to you. Please see Fees and Limits as set out at https://rytbank.my/fees-and-limits for details of the applicable fees, charges, and default interest rates. You agree that all applicable fees and charges may be debited from the Savings Account.

4. INTEREST

   1. A Savings Account is an interest-bearing account. The Bank will pay you interest on the credit balance in your Savings Account at the applicable interest rate which is determined by the Bank and is subject to change from time to time (Interest Rate). Information on the Interest Rate is available on our website at https://rytbank.my and/or our Digital Banking Services.

   2. Interest will be calculated daily based on the balance in your Savings Account at the end of each day, or using such other methods as the Bank may determine and notified to you from time to time.
      

   3. The accrued interest will be credited to your Savings Account on a daily basis, when the accrued interest payable is at least RM0.01. The Bank will not credit any amount to your Savings Account if the accrued interest payable is less than RM0.01.
      

   4. We reserve the right not to pay you any interest on the credit balance in your Savings Account if you breach any of your obligations under the Banking Agreement (including these Specific Terms).
      

5. STATEMENTS OF ACCOUNT

   1. Electronic Statements in respect of your Savings Account will be generated on a monthly basis and will be made available through our Digital Banking Services.

   2. The Bank may choose not to issue any Electronic Statement if your Savings Account is dormant or inactive.

6. CLOSURE OF ACCOUNT

   1. You may close your Savings Account by sending an Instruction to us via email to support@rytbank.my or telephone at +603-5115 5115.

   2. You are responsible for any arrangement in relation to the transfer of any credit balance in the Savings Account before closure can be effected. We may stop paying interest on credit balance in your Savings Account from the day we receive your closure Instructions. Where we exercise our rights under Clause 24.2 (Our right to close, terminate or revoke any Product) of the General Terms to close the Savings Account, you agree that we shall have the right to transfer any unclaimed credit balance in the closed Account to our internal account(s).

   3. Pending closure of the Savings Account, we may refuse to carry out any Instruction (including transfers or withdrawal of funds) or accept any further deposits. In appropriate cases, we have the right to limit the amounts deposited. We may also withhold or suspend payment of any funds.

7. NO CASH DEPOSITS

   You will not be able to deposit physical cash or notes into your Savings Account.
   

8. NO CHEQUES

   No cheque book or facility will be issued for your Savings Account. You will not be able to deposit any cheques with us.
   

Schedule

SECTION B - SPECIFIC TERMS AND CONDITIONS APPLICABLE TO SAVE POCKETS (AVAILABLE ON OR AFTER 27 MARCH 2025, OR ON A DATE TO BE COMMUNICATED)

Protected by Perbadanan Insurans Deposit Malaysia (PIDM) up to RM250,000 for each depositor (PIDM Protection).

1. CREATION AND USE OF SAVE POCKETS

   1. Once a Savings Account is successfully opened, you will have access to Save Pockets, which are sub-accounts linked to your main Savings Account (Save Pockets) meant to encourage savings across different categories. We may automatically create a Save Pocket for you once we open your Savings Account and/or you activate your Savings Account.

   2. You can then select Save Pockets from a list of pre-loaded labels most relevant to you based on your specific savings goals or purposes or create your own labels for each Save Pocket to best suit your needs. We will determine the maximum number of Save Pockets you may open and maintain and we will notify you of this from time to time.

   3. Practically, the funds in each of your Save Pockets are maintained and kept separate from the funds in your main Savings Account and the funds in your other Save Pockets. A Save Pocket is akin to another Savings Account. You can transfer funds between and in and out of your Save Pockets, including to and from your main Savings Account. For the time being, you will not be able to make external fund transfers directly from the Save Pockets. You will also not be able to receive external fund transfers directly from external sources (including e-wallets). All terms and conditions governing the Savings Account also apply to the Save Pockets.

   4. The Bank reserves the right to place a maximum limit on the amount of funds in each Save Pocket.

   5. The amount of funds in each and every Save Pocket linked to your main Savings Account plus the amount of funds in your main Savings Account form the total of your protected insurable balance for the purposes of PIDM Protection.

   6. Before the closure of your Savings Account, the credit balances in all your Save Pockets will automatically be transferred to your main Savings Account. All Save Pockets will then be automatically closed before closure of your Savings Account.

2. INTEREST PAID ON SAVE POCKETS

   1. A Save Pocket is an interest-bearing sub-account. The Bank will pay you interest on the balance in your Save Pockets at the applicable interest rate which is determined by the Bank and is subject to change from time to time (Interest Rate). Information on the Interest Rate is available on our website at https://rytbank.my and/or our Digital Banking Services.

   2. Interest will be calculated daily based on the balance in your Save Pockets at the end of each day, or using such other methods as the Bank may determine and notified to you from time to time.

   3. The accrued interest will be credited to your Save Pockets on a daily basis, when the accrued interest payable is at least RM0.01. The Bank will not credit any amount to your Save Pockets if the accrued interest payable is less than RM0.01.

   4. We reserve the right not to pay interest if you breach any of your obligations under the Banking Agreement (including these Specific Terms).