Illustration of Interest Earned for ACE Enterprise Account
ACE Enterprise Account Interest Rate Structure with effect from 6 March 2020
| Range |
Nominal Interest Rate (p.a.) |
Effective Interest Rate (p.a.)# |
| First RM50,000 |
0.00% |
0.00% |
| Next RM100,000 |
0.20% |
0.20% |
| Next RM150,000 |
0.50% |
0.50% |
| Next RM300,000 |
0.80% |
0.80% |
| Next RM500,000 |
1.00% |
1.00% |
| Next RM1,000,000 |
1.30% |
1.31% |
| Next RM2,000,000 |
1.50% |
1.51% |
| Thereafter |
1.80% |
1.81% |
#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
RM1.1 Mil is as follows:
| Range |
Interest Rate (p.a.) |
Calculation |
Interest Earned (RM) |
| First RM50,000 |
0.00% |
First RM50,000 balance x 0.00% x 1/365* |
0.00 |
| Next RM100,000 |
0.20% |
Subsequent RM100,000 balance x 0.20% x 1/365* |
0.55 |
| Next RM150,000 |
0.50% |
Subsequent RM150,000 balance x 0.50% x 1/365* |
2.05 |
| Next RM300,000 |
0.80% |
Subsequent RM300,000 balance x 0.80% x 1/365* |
6.58 |
| Next RM500,000 |
1.00% |
Subsequent RM500,000 balance x 1.00% x 1/365* |
13.70 |
| Next RM1,000,000 |
1.30% |
Subsequent RM0 balance x 1.30% x 1/365* |
0.00 |
| Next RM2,000,000 |
1.50% |
Subsequent RM0 balance x 1.50% x 1/365* |
0.00 |
| Thereafter |
1.80% |
Subsequent RM0 balance x 1.80% x 1/365* |
0.00 |
| Total Interest Earned |
22.88 |
*366 if it is a leap year
Example 2:
30 days interest earned for an account with outstanding balance of
RM4.2 Mil is as follows:
| Range |
Interest Rate (p.a.) |
Calculation |
Interest Earned (RM) |
| First RM50,000 |
0.00% |
First RM50,000 balance x 0.00% x 30/365* |
0.00 |
| Next RM100,000 |
0.20% |
Subsequent RM100,000 balance x 0.20% x 30/365* |
16.44 |
| Next RM150,000 |
0.50% |
Subsequent RM150,000 balance x 0.50% x 30/365* |
61.64 |
| Next RM300,000 |
0.80% |
Subsequent RM300,000 balance x 0.80% x 30/365* |
197.26 |
| Next RM500,000 |
1.00% |
Subsequent RM500,000 balance x 1.00% x 30/365* |
410.96 |
| Next RM1,000,000 |
1.30% |
Subsequent RM1,000,000 balance x 1.30% x 30/365* |
1,068.49 |
| Next RM2,000,000 |
1.50% |
Subsequent RM2,000,000 balance x 1.50% x 30/365* |
2,465.75 |
| Thereafter |
1.80% |
Subsequent RM100,000 balance x 1.80% x 30/365* |
147.95 |
| Total Interest Earned |
4,368.49 |
*366 if it is a leap year