Illustration of Interest Earned for ACE Enterprise Account
ACE Enterprise Account Interest Rate Structure with effect from 22 February 2017
|
Range |
Nominal Interest Rate (p.a.) |
Effective Interest Rate (p.a.) |
|
First RM50,000-00 |
0.00% |
0.00% |
|
Next RM100,000-00 |
1.28% |
1.29% |
|
Next RM150,000-00 |
1.38% |
1.39% |
|
Next RM300,000-00 |
1.68% |
1.69% |
|
Next RM500,000-00 |
1.98% |
2.00% |
|
Thereafter |
2.18% |
2.20% |
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 RM50,000-00 |
0.00% |
First RM50,000 balance X 0.00% X 1/365* |
0.00 |
|
Next RM100,000-00 |
1.28% |
Subsequent RM100,000 balance X 1.28% X 1/365* |
3.51 |
|
Next RM150,000-00 |
1.38% |
Subsequent RM150,000 balance X 1.38% X 1/365* |
5.67 |
|
Next RM300,000-00 |
1.68% |
Subsequent RM300,000 balance X 1.68% X 1/365* |
13.81 |
|
Next RM500,000-00 |
1.98% |
Subsequent RM500,000 balance X 1.98% X 1/365* |
27.12 |
|
Thereafter |
2.18% |
Subsequent RM0 balance X 2.18% X 1/365* |
0 |
|
Total Interest Earned |
50.11 |
*366 if it is a leap year
Example 2:
30 days interest earned for an account with outstanding balance of
RM1.3 Mil is as follows:
|
Range |
Interest Rate (p.a.) |
Calculation |
Interest Earned (RM) |
|
First RM50,000-00 |
0.00% |
First RM50,000 balance X 0.00% X 30/365* |
0.00 |
|
Next RM100,000-00 |
1.28% |
Subsequent RM100,000 balance X 1.28% X 30/365* |
105.21 |
|
Next RM150,000-00 |
1.38% |
Subsequent RM150,000 balance X 1.38% X 30/365* |
170.14 |
|
Next RM300,000-00 |
1.68% |
Subsequent RM300,000 balance X 1.68% X 30/365* |
414.25 |
|
Next RM500,000-00 |
1.98% |
Subsequent RM500,000 balance X 1.98% X 30/365* |
813.70 |
|
Thereafter |
2.18% |
Subsequent RM200,000 balance X 2.18% X 30/365* |
358.36 |
|
Total Interest Earned |
1,861.66 |
*366 if it is a leap year