Illustration of Interest Earned for ACE Account
ACE Account Interest Rate Structure with effect from 18 May 2020
| 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 |
0.30% |
0.30% |
| Next RM500,000-00 |
0.50% |
0.50% |
| Next RM500,000-00 |
0.70% |
0.70% |
| Next RM500,000-00 |
0.80% |
0.80% |
| Next RM1.0 Mil |
0.90% |
0.90% |
| Thereafter |
1.00% |
1.00% |
#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 |
0.30% |
Subsequent RM400,000 balance X 0.30% X 1/365* |
3.29 |
| Next RM500,000 |
0.50% |
Subsequent RM500,000 balance X 0.50% X 1/365* |
6.85 |
| Next RM500,000 |
0.70% |
Subsequent RM0 balance X 0.70% X 1/365* |
0.00 |
| Next RM500,000 |
0.80% |
Subsequent RM0 balance X 0.80% X 1/365* |
0.00 |
| Next RM1.0 Mil |
0.90% |
Subsequent RM0 balance X 0.90% X 1/365* |
0.00 |
| Thereafter |
1.00% |
Subsequent RM0 balance X 1.00% X 1/365* |
0.00 |
| Total Interest Earned |
10.34 |
*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 |
0.30% |
Subsequent RM400,000 balance X 0.30% X 30/365* |
98.63 |
| Next RM500,000 |
0.50% |
Subsequent RM500,000 balance X 0.50% X 30/365* |
205.48 |
| Next RM500,000 |
0.70% |
Subsequent RM500,000 balance X 0.70% X 30/365* |
287.67 |
| Next RM500,000 |
0.80% |
Subsequent RM500,000 balance X 0.80% X 30/365* |
328.77 |
| Next RM1.0 Mil |
0.90% |
Subsequent RM1.0 Mil balance X 0.90% X 30/365* |
739.73 |
| Thereafter |
1.00% |
Subsequent RM200,000 balance X 1.00% X 30/365* |
164.38 |
| Total Interest Earned |
1,830.62 |
*366 if it is a leap year