Illustration of Interest Earned for ACE Enterprise Account
ACE Enterprise Account Interest Rate Structure with effect from 11 February 2021
| Range |
Nominal Interest Rate (p.a.) |
Effective Interest Rate (p.a.)# |
| First RM50,000 |
0.00% |
0.00% |
| Next RM250,000 |
0.15% |
0.15% |
| Next RM300,000 |
0.30% |
0.30% |
| Next RM500,000 |
0.50% |
0.50% |
| Next RM1.0 Mil |
0.80% |
0.80% |
| Next RM2.0 Mil |
1.00% |
1.00% |
| Thereafter |
1.10% |
1.11% |
#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 RM250,000 |
0.15% |
Subsequent RM250,000 balance x 0.15% x 1/365* |
1.03 |
| Next RM300,000 |
0.30% |
Subsequent RM300,000 balance x 0.30% x 1/365* |
2.47 |
| Next RM500,000 |
0.50% |
Subsequent RM500,000 balance x 0.50% x 1/365* |
6.85 |
| Next RM1,000,000 |
0.80% |
Subsequent RM0 balance x 0.80% x 1/365* |
0.00 |
| Next RM2,000,000 |
1.00% |
Subsequent RM0 balance x 1.00% x 1/365* |
0.00 |
| Thereafter |
1.10% |
Subsequent RM0 balance x 1.10% x 1/365* |
0.00 |
| Total Interest Earned |
10.35 |
*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 RM250,000 |
0.15% |
Subsequent RM250,000 balance x 0.15% x 30/365* |
30.82 |
| Next RM300,000 |
0.30% |
Subsequent RM300,000 balance x 0.30% x 30/365* |
73.97 |
| Next RM500,000 |
0.50% |
Subsequent RM500,000 balance x 0.50% x 30/365* |
205.48 |
| Next RM1,000,000 |
0.80% |
Subsequent RM1,000,000 balance x 0.80% x 30/365* |
657.53 |
| Next RM2,000,000 |
1.00% |
Subsequent RM2,000,000 balance x 1.00% x 30/365* |
1,643.84 |
| Thereafter |
1.10% |
Subsequent RM100,000 balance x 1.10% x 30/365* |
90.41 |
| Total Interest Earned |
2,702.05 |
*366 if it is a leap year