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