Illustration of Interest Earned for ACE Enterprise Account
ACE Enterprise Account Interest Rate Structure with effect from 18 May 2020
| Range |
Nominal Interest Rate (p.a.) |
Effective Interest Rate (p.a.)# |
| First RM50,000 |
0.00% |
0.00% |
| Next RM250,000 |
0.20% |
0.20% |
| Next RM300,000 |
0.50% |
0.50% |
| Next RM500,000 |
0.75% |
0.75% |
| Next RM1.0 Mil |
1.05% |
1.06% |
| Next RM2.0 Mil |
1.15% |
1.16% |
| Thereafter |
1.25% |
1.26% |
#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 |
0.20% |
Subsequent RM250,000 balance x 0.20% x 1/365* |
1.37 |
| Next RM300,000 |
0.50% |
Subsequent RM300,000 balance x 0.50% x 1/365* |
4.11 |
| Next RM500,000 |
0.75% |
Subsequent RM500,000 balance x 0.75% x 1/365* |
10.27 |
| Next RM1.0 Mil |
1.05% |
Subsequent RM0 balance x 1.05% x 1/365* |
0.00 |
| Next RM2.0 Mil |
1.15% |
Subsequent RM0 balance x 1.15% x 1/365* |
0.00 |
| Thereafter |
1.25% |
Subsequent RM0 balance x 1.25% x 1/365* |
0.00 |
| Total Interest Earned |
15.75 |
*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 |
0.20% |
Subsequent RM250,000 balance x 0.20% x 30/365* |
41.10 |
| Next RM300,000 |
0.50% |
Subsequent RM300,000 balance x 0.50% x 30/365* |
123.29 |
| Next RM500,000 |
0.75% |
Subsequent RM500,000 balance x 0.75% x 30/365* |
308.22 |
| Next RM1,000,000 |
1.05% |
Subsequent RM1,000,000 balance x 1.05% x 30/365* |
863.01 |
| Next RM2,000,000 |
1.15% |
Subsequent RM2,000,000 balance x 1.15% x 30/365* |
1,890.41 |
| Thereafter |
1.25% |
Subsequent RM100,000 balance x 1.25% x 30/365* |
102.74 |
| Total Interest Earned |
3,328.77 |
*366 if it is a leap year