Illustration of Interest Earned for PLUS Savings Account
PLUS SA Interest Rate with effect from 11 February 2021
| Range |
Nominal Interest Rate (p.a.) |
Effective Interest Rate (p.a.)# |
| First RM10,000-00 |
0.00% |
0.00% |
| Next RM40,000-00 |
0.05% |
0.05% |
| Next RM100,000-00 |
0.10% |
0.10% |
| Next RM200,000-00 |
0.15% |
0.15% |
| Next RM300,000-00 |
0.20% |
0.20% |
| Thereafter |
0.25% |
0.25% |
#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
RM550,000 is as follows:
| Range |
Interest Rate (p.a.) |
Calculation |
Interest Earned (RM) |
| First RM10,000 |
0.00% |
First RM10,000 balance X 0.00% X 1/365* |
0.00 |
| Next RM40,000 |
0.05% |
Subsequent RM40,000 balance X 0.05% X 1/365* |
0.05 |
| Next RM100,000 |
0.10% |
Subsequent RM100,000 balance X 0.10% X 1/365* |
0.27 |
| Next RM200,000 |
0.15% |
Subsequent RM200,000 balance X 0.15% X 1/365* |
0.82 |
| Next RM300,000 |
0.20% |
Subsequent RM200,000 balance X 0.20% X 1/365* |
1.10 |
| Thereafter |
0.25% |
Subsequent RM0 balance X 0.25% X 1/365* |
0.00 |
| Total Interest Earned |
2.24 |
*366 if it is a leap year
Example 2:
180 days interest earned for an account with outstanding balance of
RM2,000,000 is as follows:
| Range |
Interest Rate (p.a.) |
Calculation |
Interest Earned (RM) |
| First RM10,000 |
0.00% |
First RM10,000 balance X 0.00% X 180/365* |
0.00 |
| Next RM40,000 |
0.05% |
Subsequent RM40,000 balance X 0.05% X 180/365* |
9.86 |
| Next RM100,000 |
0.10% |
Subsequent RM100,000 balance X 0.10% X 180/365* |
49.32 |
| Next RM200,000 |
0.15% |
Subsequent RM200,000 balance X 0.15% X 180/365* |
147.95 |
| Next RM300,000 |
0.20% |
Subsequent RM300,000 balance X 0.20% X 180/365* |
295.89 |
| Thereafter |
0.25% |
Subsequent RM1,350,000 balance X 0.25% X 180/365* |
1,664.38 |
| Total Interest Earned |
2,167.40 |
*366 if it is a leap year