That's right, Boost has once again introduced another new feature within the app called BoostMyMoney. This is a new Shariah-compliant unit trust investment feature, a collaborative effort between Boost and UOB Asset Management (UOBAM) Malaysia.
So what makes it different from the other similar money-saving apps like GXBank? Well, BoostMyMoney is the first to offer Loyalty Points for every ringgit invested in the market, which can be redeemed for additional savings across the BoostUP Loyalty Programme. It also offers up to 3.82% returns p.a. without any lock-in periods and with a low minimum deposit of RM1.
The current rate of return is based on historical data, as of September 2024, and future rates may vary depending on monthly fluctuations and market conditions. With BoostMyMoney, Boost will leverage UOBAM (Malaysia)’s fund management experience and expertise to encourage young and risk-averse Malaysians to start investing.
Boost app users can simply go to the home menu and tap the ‘BoostMyMoney’ button, follow the instructions to activate and they will be set. The activation includes an e-KYC authentication, a detailed contract agreement, an account profile set-up, and more. After completing it, Boost users can then make their deposits into BoostMyMoney accordingly through the Boost eWallet app.
Users can conveniently track their earnings and transaction history on the BoostMyMoney page. Additionally, they will also have the flexibility to withdraw their funds and earnings to either their Boost eWallet app or a verified online banking account.
To promote this new feature, Boost has launched a Bonus Boost Star campaign. What the user has to do is make a minimum of RM500 deposit and maintain it for at least five days to earn 15,000 Boost Stars, which can be used as cash. The Boost Stars can be used on bills, groceries, petrol and redeem items on the BoostUP Catalogue.
For more information on the BoostMyMoney feature, you may visit the official webpage here to learn more.
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