Illustration of Interest Earned for ACE Account
ACE Account Interest Rate Structure with effect from 11 February 2021
| Range |
Nominal Interest Rate (p.a.) |
Effective Interest Rate (p.a.)# |
| First RM5,000-00 |
0.00% |
0.00% |
| Next RM45,000-00 |
0.05% |
0.05% |
| Next RM50,000-00 |
0.10% |
0.10% |
| Next RM400,000-00 |
0.20% |
0.20% |
| Next RM500,000-00 |
0.30% |
0.30% |
| Next RM500,000-00 |
0.40% |
0.40% |
| Next RM500,000-00 |
0.60% |
0.60% |
| Thereafter |
0.80% |
0.80% |
#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
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 |
0.05% |
Subsequent RM45,000 balance X 0.05% X 1/365* |
0.06 |
| Next RM50,000 |
0.10% |
Subsequent RM50,000 balance X 0.10% X 1/365* |
0.14 |
| Next RM400,000 |
0.20% |
Subsequent RM400,000 balance X 0.20% X 1/365* |
2.19 |
| Next RM500,000 |
0.30% |
Subsequent RM500,000 balance X 0.30% X 1/365* |
4.11 |
| Next RM500,000 |
0.40% |
Subsequent RM0 balance X 0.40% X 1/365* |
0.00 |
| Next RM500,000 |
0.60% |
Subsequent RM0 balance X 0.60% X 1/365* |
0.00 |
| Thereafter |
0.80% |
Subsequent RM0 balance X 0.80% X 1/365* |
0.00 |
| Total Interest Earned |
6.50 |
*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 |
0.05% |
Subsequent RM45,000 balance X 0.05% X 30/365* |
1.85 |
| Next RM50,000 |
0.10% |
Subsequent RM50,000 balance X 0.10% X 30/365* |
4.11 |
| Next RM400,000 |
0.20% |
Subsequent RM400,000 balance X 0.20% X 30/365* |
65.75 |
| Next RM500,000 |
0.30% |
Subsequent RM500,000 balance X 0.30% X 30/365* |
123.29 |
| Next RM500,000 |
0.40% |
Subsequent RM500,000 balance X 0.40% X 30/365* |
164.38 |
| Next RM500,000 |
0.60% |
Subsequent RM500,000 balance X 0.60% X 30/365* |
246.58 |
| Thereafter |
0.80% |
Subsequent RM1,200,000 balance X 0.80% X 30/365* |
789.04 |
| Total Interest Earned |
1,395.00 |
*366 if it is a leap year