Best Places to Grow Your Savings Right Now

Earn up to 6.85% pa with low risk.

Author

The Futurizts
July 02, 2025

1. Versa Cash (4.20% pa Nett)

Versa is a wealth management app that allows you to invest in local and global markets.

Their two most popular funds are Versa Cash (~3.89% pa) and Versa Cash-i (~3.54% pa).

Both are low risk Money Market Funds that offer stable returns, much like TNG GO+ and StashAway Simple.

To sweeten the pot, Versa is running “Fixed Rate Quests” that allow you to earn:

  • 4.20% pa Nett on Versa Cash

  • 3.90% pa Nett on Versa Cash-i

The qualifying period is from 1 July until 31 July, and the special rate applies to fresh funds only (min. deposit RM2,000).

✅ Earn interest/profit daily.

✅ Extremely user friendly.

✅ Deposit/withdraw in 2-3 business days.

❌ Not Shariah-compliant (Versa Cash).

❌ Not insured by PIDM.

🎁 Referral Code: THEFUTURIZTS (Get RM10 for first deposit of RM100 and above)

To qualify for their promo, you must tap “Join Now” on the quest and cash in min. RM2,000 by 31 July.

2. AEON Bank (3.00% pa + 0.50-4.00% cashback)

Dubbed as Malaysia’s first Islamic Digital Bank, AEON Bank allows users to earn up to 3.00% pa with interest compounded daily and paid at the end of each month.

To be clear, the balance in your main account will earn 0.25% pa, while savings pots will earn 3.00% pa.

You can create up to 20 savings pots with different goals, and the money can be deposited/withdrawn instantly.

You’ll also receive 8x AEON points for every RM1 spent using the debit card on grocery stores, which can be claimed for cash (1,000 points = RM5.00). This makes the cashback for groceries 4%.

The default cashback on spending for other categories is 0.50%.

✅ Shariah-compliant.

✅ Savings account, insured by PIDM.

✅ Deposit/withdraw instantly using DuitNow.

✅ 0.50% cashback on most spending with debit card.

✅ 4.00% cashback on grocery spending (on all grocery stores).

❌ Profit payout occurs at the end of each month.

🎁 Referral Code: AB403017 (Get 1,000 AEON Points worth RM5)

3. BoostMyMoney (~3.25-6.85% pa)

BoostMyMoney is a Shariah-compliant fund that helps users earn and save with higher returns. The base return is 3.75% pa (excluding fees, up to 0.50%).

The profits are paid daily and you’ll also receive Boost Stars for every ringgit maintained in the account.

The stars are credited into your Boost eWallet every month and can be claimed as cashback (1,000 Stars = RM1).

The longer you maintain the balance in your account (min. RM500), the more Boost Stars you’ll receive, up to 3x stars on every RM1.

From month 9-12, the earnings rate effectively increases to 6.85% pa, assuming you convert the stars to cashback.

I used BoostMyMoney for slightly over a year now and accumulated 374k stars (worth RM374)

You’ll also be able to withdraw 95% of your funds instantly to the Boost eWallet, which you can cash out and send to your bank account.

✅ Earn profit daily.

✅ Shariah-compliant.

✅ Earn Boost Stars for cashback.

✅ Withdraw up to 95% of funds to e-wallet instantly.

❌ Needs significant improvement on customer service.

❌ Not insured by PIDM.

❌ Transaction limit of RM10k monthly.

🎁 Referral Code: shi57gv2

To be clear, BoostMyMoney is different from Boost Bank, which offers 3.00% pa and is protected by PIDM. Think of this product as something similar to TNG GO+.

4. Touch n’ GO+ (3.50% pa)

GO+ offers superb flexibility and pays daily profit based on the balance in your account at the end of each day.

It will not affect your e-wallet payments.

Whenever you make a deposit or transfer, the funds will automatically be added or deducted from your GO+ account.

✅ Earn profit daily.

✅ Shariah compliant.

✅ Deposit/withdraw instantly with DuitNow.

❌ Maximum deposit limit of RM20,000.💡

❌ Not insured by PIDM.

💡 You’ll still earn daily profit beyond this limit, but you won’t be able to deposit more funds.

5. my Alrajhi - Rize (2.58-3.60% pa)

It’s a love-hate relationship with this one.

Though my Alrajhi (previously Rize) offers a decent payout with flexibility to deposit/withdraw instantly, the quality of their customer service is questionable.

We spent 3 months to open our account previously, and many users have voiced out their unpleasant experience with the app.

The balance in savings pots will earn 3.08% pa, while the main account’s earnings is tiered, starting from 2.58% pa:

✅ Shariah compliant.

✅ Savings account, insured by PIDM.

✅ Deposit/withdraw instantly using DuitNow.

❌ Needs significant improvement on customer service.

❌ Profit payout occurs monthly.

6. ASB & ASM (4-6% pa)

Amanah Saham Bumiputera (ASB) and Amanah Saham Malaysia (ASM) are unit trust funds managed by Amanah Saham Nasional Berhad (ANSB).

The funds are always fixed at RM1.00 per unit, giving you the flexibility to plan your investments without worrying about market volatility or price swings.

Unfortunately, ASB is only available for Bumis. For non-Bumis, ASM is the next alternative, but the units are limited and often hard to purchase.

✅ Shariah compliant.

✅ Stable, consistent returns.

✅ Deposit/withdraw in 1-2 business days.

❌ Limited units for non-bumis (ASM).

❌ Profit payout occurs once a year.

❌ Not insured by PIDM.

7. Fixed Deposits (3.65-3.80% pa)

FDs are becoming attractive again because their returns are higher than most digital banks right now.

✅ Shariah-compliant.

✅ Insured by PIDM.

✅ Guaranteed returns.

❌ 1 year lock-in.

❌ No profit paid for early withdrawals.

“Got so many options, I can’t decide.”

Most cash apps are relatively new and often go under maintenance.

As such, it’s best to use multiple apps so you won’t be locked out from your funds.

We use AEON Bank and TNG for daily spending and saving. For emergency funds, we like to keep them in a separate place (Rize, ASB/ASM, Versa) so we won’t see them and be tempted to spend.

Growing your savings has never been easier.

At a 4% annual compound rate, you’ll achieve RM50,000 in 5 years if you set aside roughly RM755 per month.

This is much faster than saving manually without investing (RM833/month).

Of course, saving RM50,000 may not be feasible for everyone, but think of it this way: It’s better to have some money set aside rather than none at all.

Learned something? Then join our WhatsApp group for more!

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DISCLAIMER: Investing in cash apps or unit trusts has its own risks as they are different from opening a deposit account with a financial institution. You should speak with a financial planner before making any investing decisions. ⚠️

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