Illustration of Interest Earned for ACE Enterprise Account

Illustration of Interest Earned for ACE Enterprise Account

ACE Enterprise Account Interest Rate Structure with effect from 1 February 2019
Range Nominal Interest Rate (p.a.) Effective Interest Rate (p.a.)#
First RM50,000 0.00% 0.00%
Next RM100,000 0.40% 0.40%
Next RM150,000 0.70% 0.70%
Next RM300,000 1.10% 1.11%
Next RM500,000 1.40% 1.41%
Next RM1,000,000 1.70% 1.71%
Next RM2,000,000 1.90% 1.92%
Thereafter   2.10% 2.12%
#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 0.40% Subsequent RM100,000 balance x 0.40% x 1/365* 1.10
Next RM150,000 0.70% Subsequent RM150,000 balance x 0.70% x 1/365* 2.88
Next RM300,000 1.10% Subsequent RM300,000 balance x 1.10% x 1/365* 9.04
Next RM500,000 1.40% Subsequent RM500,000 balance x 1.40% x 1/365* 19.18
Next RM1,000,000 1.70% Subsequent RM0 balance x 1.70% x 1/365* 0.00
Next RM2,000,000 1.90% Subsequent RM0 balance x 1.90% x 1/365* 0.00
Thereafter 2.10% Subsequent RM0 balance x 2.10% x 1/365*   0.00
Total Interest Earned 32.20
*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 0.40% Subsequent RM100,000 balance x 0.40% x 30/365* 32.88
Next RM150,000 0.70% Subsequent RM150,000 balance x 0.70% x 30/365* 86.30
Next RM300,000 1.10% Subsequent RM300,000 balance x 1.10% x 30/365* 271.23
Next RM500,000 1.40% Subsequent RM500,000 balance x 1.40% x 30/365* 575.34
Next RM1,000,000 1.70% Subsequent RM1,000,000 balance x 1.70% x 30/365* 1,397.26
Next RM2,000,000 1.90% Subsequent RM2,000,000 balance x 1.90% x 30/365* 3,123.29
Thereafter   2.10% Subsequent RM100,000 balance x 2.10% x 30/365*  172.60
Total Interest Earned 5,658.90
*366 if it is a leap year