Illustration of Interest Earned for 50 PLUS Savings Account
50 PLUS SA Interest Rate with effect from 11 February 2021
| Range |
Nominal Interest Rate (p.a.) |
Effective Interest Rate (p.a.)# |
| First RM10,000-00 |
0.00% |
0.00% |
| Next RM40,000-00 |
0.10% |
0.10% |
| Next RM50,000-00 |
0.30% |
0.30% |
| Thereafter |
0.60% |
0.60% |
#The effective interest rates shown above are applicable for the deposit amount within the range of the said interest rate tier.
Example 1:
1 day interest earned for an account with outstanding balance of
RM35,000 is as follows:
| Range |
Interest Rate (p.a.) |
Calculation |
Interest Earned (RM) |
| First RM10,000 |
0.00% |
First RM10,000 balance X 0.00% X 1/365* |
0.00 |
| Next RM40,000 |
0.10% |
Subsequent RM25,000 balance X 0.10% X 1/365* |
0.07 |
| Next RM50,000 |
0.30% |
Subsequent RM0 balance X 0.30% X 1/365* |
0.00 |
| Thereafter |
0.60% |
Subsequent RM0 balance X 0.60% X 1/365* |
0.00 |
| Total Interest Earned |
0.07 |
*366 if it is a leap year
Example 2:
30 days interest earned for an account with outstanding balance of
RM200,000 is as follows:
| Range |
Interest Rate (p.a.) |
Calculation |
Interest Earned (RM) |
| First RM10,000 |
0.00% |
First RM10,000 balance X 0.00% X 30/365* |
0.00 |
| Next RM40,000 |
0.10% |
Subsequent RM40,000 balance X 0.10% X 30/365* |
3.29 |
| Next RM50,000 |
0.30% |
Subsequent RM50,000 balance X 0.30% X 30/365* |
12.33 |
| Thereafter |
0.60% |
Subsequent RM100,000 balance X 0.60% X 30/365* |
49.32 |
| Total Interest Earned |
64.94 |
*366 if it is a leap year