Illustration of Goal Interest Earned

Illustration of Goal Interest Earned

The goal interest is calculated daily based on day-end balance in the goal as follows:
Goal Interest = Day-end Balance in Goal x [Overnight Policy Rate (OPR) – 0.50% p.a.] x (1 / 365* days)

* 366 days for leap year

Example 1:

Customer achieved the goal on Goal Maturity Date and OPR remains unchanged throughout the Goal Tenure.

Goal Creation Date : 1 August 2021
Goal Maturity Date : 10 August 2021
Goal Tenure : 10 days
Goal Amount : RM1,000
Current OPR : 1.75% p.a.
Goal Interest Rate : 1.25% p.a. (1.75% p.a. – 0.50% p.a.)
 
Day Savings Amount (RM) Day-end Balance in Goal (RM) Interest Rate (% p.a.) Calculation Interest Earned (RM)
1 10.00 10.00 1.25 RM10 x 1.25% p.a. x 1/365 0.00
2 150.00 160.00 1.25 RM160 x 1.25% p.a. x 1/365 0.01
3 30.00 190.00 1.25 RM190 x 1.25% p.a. x 1/365 0.01
4 200.00 390.00 1.25 RM390 x 1.25% p.a. x 1/365 0.01
5 50.00 440.00 1.25 RM440 x 1.25% p.a. x 1/365 0.02
6 100.00 540.00 1.25 RM540 x 1.25% p.a. x 1/365 0.02
7 60.00 600.00 1.25 RM600 x 1.25% p.a. x 1/365 0.02
8 100.00 700.00 1.25 RM700 x 1.25% p.a. x 1/365 0.02
9 100.00 800.00 1.25 RM800 x 1.25% p.a. x 1/365 0.03
10 200.00 1,000.00 1.25 RM1,000 x 1.25% p.a. x 1/365 0.03
Total Goal Interest Earned 0.17

Example 2:

Customer achieved the goal on Goal Maturity Date and OPR increased on day 4 onwards.

Goal Creation Date : 1 August 2021
Goal Maturity Date : 15 August 2021
Goal Tenure : 15 days
Goal Amount : RM1,000
Current OPR : Day 1 to 3 = 1.75% p.a.
: Day 4 to 15 = 2.00% p.a.
Goal Interest Rate : Day 1 to 3 = 1.25% p.a. (1.75% p.a. – 0.50% p.a.)
: Day 4 to 15 = 1.50% p.a. (2.00% p.a. – 0.50% p.a.)
Day Savings Amount (RM) Day-end Balance in Goal (RM) Interest Rate (% p.a.) Calculation Interest Earned (RM)
1 10.00 10.00 1.25 RM10 x 1.25% p.a. x 1/365 0.00
2 50.00 60.00 1.25 RM60 x 1.25% p.a. x 1/365 0.00
3 150.00 210.00 1.25 RM210 x 1.25% p.a. x 1/365 0.01
4 50.00 260.00 1.50 RM260 x 1.50% p.a. x 1/365 0.01
5 50.00 310.00 1.50 RM310 x 1.50% p.a. x 1/365 0.01
6 100.00 410.00 1.50 RM410 x 1.50% p.a. x 1/365 0.02
7 80.00 490.00 1.50 RM490 x 1.50% p.a. x 1/365 0.02
8 20.00 510.00 1.50 RM510 x 1.50% p.a. x 1/365 0.02
9 100.00 610.00 1.50 RM610 x 1.50% p.a. x 1/365 0.03
10 50.00 660.00 1.50 RM660 x 1.50% p.a. x 1/365 0.03
11 50.00 710.00 1.50 RM710 x 1.50% p.a. x 1/365 0.03
12 100.00 810.00 1.50 RM810 x 1.50% p.a. x 1/365 0.03
13 30.00 840.00 1.50 RM840 x 1.50% p.a. x 1/365 0.03
14 100.00 940.00 1.50 RM940 x 1.50% p.a. x 1/365 0.04
15 60.00 1,000.00 1.50 RM1,000 x 1.50% p.a. x 1/365 0.04
Total Goal Interest Earned 0.32