Rize Review: A Digital Bank with High Interest Rate


I have just found out about this digital bank by Al Rajhi Banking & Investment Corporation (Malaysia) Bhd, the world’s largest Islamic bank.

Commodity Murabahah Savings Account-i 

This is a fully digital and paperless bank. To open an account, we need to download its Rize app from App Store, Google Play or Huawei AppGallery. This account is only open to Malaysians 18 years of age and above with MyKad.

Account opening

Just follow the steps in the app. We need to take photos of our identification card and a selfie. I thought there would be a notification about successful creation of the account but I did not receive it. Nonetheless, when I log in an hour after the registration, I was able to access the account. 

Account activation 

The minimum deposit for account activation is RM 20, to be transferred from a bank account of your own name after account opening. 

Attractions of Rize

From now until 31 August 2023 (inclusive), Rize is giving special profit rate. The rate would be 5% p.a. for the first RM 5,000 and 4% p.a. for the remainder. The interest is calculated on daily basis but credited into the account monthly on the first of every month. However, this special profit rate is only available till 31 August 2023. I have asked Rize customer support and they are unsure if this special rate will be extended or ended at that time.

The normal profit rate of this savings account is 0.75% p.a. for RM 0 – 10,000, 1.00% for RM 10,001 – 25,000, and 1.10% for >RM 25,000. It is still higher than most banks.

Furthermore, the deposit is protected up to RM 250,000.00 by Perbadanan Insurans Deposit Malaysia (PIDM).


From now till 20 July 2023, activation of Rize Savings Account-i will entitle you to a cash reward of RM 20. It will be credited into the account for the first 20,000 customers only.

Besides that, there is also a chance to walk away with some prizes worth up to RM 15,000. There are three Apple products to be won.

rize review


This concludes my Rize review. As I just open the account, I could not comment much on other aspects of this app yet. I open a Rize account mainly due to its attractive profit rate. But their customer support really impressed me. The representative replied promptly and provided all the relevant information to my question.

Are you interested in Rize? Go to this page (Link) to learn more about this digital bank.


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