Malaysia welcomes a new era in banking with the official launch of Ryt Bank. Backed by YTL Group and Sea Limited, the world’s first AI-powered bank blends cutting-edge technology with everyday financial needs.
Ryt Bank is licensed by Bank Negara Malaysia and insured by PIDM, promising security as much as innovation. For Malaysians, this means banking that feels intuitive, inclusive, and fast.
What is Ryt Bank?
Ryt Bank isn’t just another digital bank. It is the first in the world to fully integrate artificial intelligence into daily banking. The aim: simplify money management while making financial tools more accessible. PIDM insures deposits up to RM 250,000 per depositor, giving Malaysians peace of mind alongside modern convenience.
Meet Ryt AI: Your Smart Banking Assistant
At the heart of Ryt Bank is Ryt AI, built on ILMU, Malaysia’s homegrown large language model. It speaks languages most Malaysians are accustomed to —Bahasa Malaysia, and English, with Mandarin to be added in September 2025.
You can chat with it to pay bills, transfer funds, or track spending. Snap a photo of a bill or receipt, and Ryt AI fills in the payment details automatically. It even explains financial terms in plain language, making money matters easier to grasp. This isn’t just banking—it’s a personal finance coach in your pocket.
Earn More with Ryt Save Pockets
Ryt Bank rewards savers with daily interest payouts. Ryt is offering 3% p.a. base interest rate, with an extra 1% bonus on the first RM20,000 saved across Save Pockets. That’s 4% p.a., credited every day.
No lock-ins. No hidden fees. Just flexibility and growth. Perfect for young professionals or anyone who wants their money working harder.
Instant Credit with Ryt PayLater
Ryt Bank’s PayLater feature offers Malaysians instant access to credit—up to RM 1,499, with no paperwork or hidden fees. Repay within a month and enjoy 0% interest, making it a simple, cost-free buffer for short-term cash flow.
For those who need more time, Ryt PayLater allows flexible installment plans of 3, 6, 9, or 12 months. Interest kicks in at 8.87% p.a. (effective annual rates between 26–32%), with payments spread evenly across the term. Even if you miss the initial due date, Ryt Bank automatically converts your balance into installments, ensuring repayment stays structured rather than punitive.
What makes it smarter is the integration with DuitNow QR payments—PayLater is set as the default. Therefore, this lets you spend instantly while your savings in Ryt Save Pockets continue to earn daily interest.
The Ryt Card: A Smarter Way to Spend
Powered by Visa, the Ryt Card gives Malaysians the freedom to switch between debit and credit with a single tap in the app. It comes with sharp perks: 1.2% cashback on overseas spending, no foreign transaction fees, and free ATM withdrawals nationwide. Everyday use also unlocks rewards like Shopee vouchers and 20% off dining at YTL Hotels restaurants.
Security is built in. The Ryt Card separates your virtual and physical numbers, allowing you to freeze one without disrupting the other—ideal for online safety. Elegant in design yet practical in function, it’s a card created for modern lifestyles where convenience, rewards, and protection move together.
The Future is Ryt
Ryt Bank isn’t simply a new financial player. It represents Malaysia’s leap into AI-driven finance. It serves tech-savvy youth while also reaching those left behind by traditional banking. Opening an account takes just a few minutes. A quick eKYC process with MyKad and a selfie is all it needs. Banking is no longer about forms, queues, or jargon. It’s about smart tools that adapt to you.
The world’s first AI-powered bank is here and Ryt Bank positions Malaysia as a leader in the future of global banking.
Sources: The Star, Soya Cincau. (Images credit via Ryt Bank)
