Illustration of Interest Earned for ACE Account
ACE Account Interest Rate Structure with effect from 1 February 2019
| Range |
Nominal Interest Rate (p.a.) |
Effective Interest Rate (p.a.) |
| First RM5,000-00 |
0.00% |
0.00% |
| Next RM45,000-00 |
0.10% |
0.10% |
| Next RM50,000-00 |
0.30% |
0.30% |
| Next RM400,000-00 |
0.60% |
0.60% |
| Next RM500,000-00 |
0.80% |
0.80% |
| Next RM500,000-00 |
1.00% |
1.00% |
| Next RM500,000-00 |
1.30% |
1.31% |
| Next RM1.0 Mil |
1.60% |
1.61% |
| Thereafter |
1.90% |
1.92% |
Example 1:
1 day interest earned for an account with outstanding balance of
RM1.0 Mil is as follows:
| Range |
Interest Rate (p.a.) |
Calculation |
Interest Earned (RM) |
| First RM5,000 |
0.00% |
First RM5,000 balance X 0.00% X 1/365* |
0.00 |
| Next RM45,000 |
0.10% |
Subsequent RM45,000 balance X 0.10% X 1/365* |
0.12 |
| Next RM50,000 |
0.30% |
Subsequent RM50,000 balance X 0.30% X 1/365* |
0.41 |
| Next RM400,000 |
0.60% |
Subsequent RM400,000 balance X 0.60% X 1/365* |
6.58 |
| Next RM500,000 |
0.80% |
Subsequent RM500,000 balance X 0.80% X 1/365* |
10.96 |
| Next RM500,000 |
1.00% |
Subsequent RM0 balance X 1.00% X 1/365* |
0.00 |
| Next RM500,000 |
1.30% |
Subsequent RM0 balance X 1.30% X 1/365* |
0.00 |
| Next RM1.0 Mil |
1.60% |
Subsequent RM0 balance X 1.60% X 1/365* |
0.00 |
| Thereafter |
1.90% |
Subsequent RM0 balance X 1.90% X 1/365* |
0.00 |
| Total Interest Earned |
18.07 |
*366 if it is a leap year
Example 2:
30 days interest earned for an account with outstanding balance of
RM3.2 Mil is as follows:
| Range |
Interest Rate (p.a.) |
Calculation |
Interest Earned (RM) |
| First RM5,000 |
0.00% |
First RM5,000 balance X 0.00% X 30/365* |
0.00 |
| Next RM45,000 |
0.10% |
Subsequent RM45,000 balance X 0.10% X 30/365* |
3.70 |
| Next RM50,000 |
0.30% |
Subsequent RM50,000 balance X 0.30% X 30/365* |
12.33 |
| Next RM400,000 |
0.60% |
Subsequent RM400,000 balance X 0.60% X 30/365* |
197.26 |
| Next RM500,000 |
0.80% |
Subsequent RM500,000 balance X 0.80% X 30/365* |
328.77 |
| Next RM500,000 |
1.00% |
Subsequent RM500,000 balance X 1.00% X 30/365* |
410.96 |
| Next RM500,000 |
1.30% |
Subsequent RM500,000 balance X 1.30% X 30/365* |
534.25 |
| Next RM1.0 Mil |
1.60% |
Subsequent RM1.0 Mil balance X 1.60% X 30/365* |
1,315.07 |
| Thereafter |
1.90% |
Subsequent RM200,000 balance X 1.90% X 30/365* |
312.33 |
| Total Interest Earned |
3,114.67 |
*366 if it is a leap year