Illustration of Interest Earned for Premier ACE Account
Premier ACE Account Interest Rate Structure with effect from 18 May 2020
| Range |
Nominal Interest Rate (p.a.) |
Effective Interest Rate (p.a.)# |
| First RM5,000-00 |
0.00% |
0.00% |
| Next RM45,000-00 |
0.05% |
0.05% |
| Next RM50,000-00 |
0.20% |
0.20% |
| Next RM400,000-00 |
0.40% |
0.40% |
| Next RM500,000-00 |
0.60% |
0.60% |
| Next RM500,000-00 |
0.80% |
0.80% |
| Next RM500,000-00 |
1.00% |
1.00% |
| Next RM1.0 Mil |
1.20% |
1.21% |
| Thereafter |
1.50% |
1.51% |
#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
RM1.0 Mil is as follows:
| Range |
Interest Rate (p.a.) |
Calculation |
Interest Earned (RM) |
| First RM5,000 |
0.00% |
First RM5,000 balance X 0.00% X 1/365* |
0.00 |
| Next RM45,000 |
0.05% |
Subsequent RM45,000 balance X 0.05% X 1/365* |
0.06 |
| Next RM50,000 |
0.20% |
Subsequent RM50,000 balance X 0.20% X 1/365* |
0.27 |
| Next RM400,000 |
0.40% |
Subsequent RM400,000 balance X 0.40% X 1/365* |
4.38 |
| Next RM500,000 |
0.60% |
Subsequent RM500,000 balance X 0.60% X 1/365* |
8.22 |
| Next RM500,000 |
0.80% |
Subsequent RM0 balance X 0.80% X 1/365* |
0.00 |
| Next RM500,000 |
1.00% |
Subsequent RM0 balance X 1.00% X 1/365* |
0.00 |
| Next RM1.0 Mil |
1.20% |
Subsequent RM0 balance X 1.20% X 1/365* |
0.00 |
| Thereafter |
1.50% |
Subsequent RM0 balance X 1.50% X 1/365* |
0.00 |
| Total Interest Earned |
12.93 |
*366 if it is a leap year
Example 2:
30 days interest earned for an account with outstanding balance of
RM3.2 Mil is as follows:
| Range |
Interest Rate (p.a.) |
Calculation |
Interest Earned (RM) |
| First RM5,000 |
0.00% |
First RM5,000 balance X 0.00% X 30/365* |
0.00 |
| Next RM45,000 |
0.05% |
Subsequent RM45,000 balance X 0.05% X 30/365* |
1.85 |
| Next RM50,000 |
0.20% |
Subsequent RM50,000 balance X 0.20% X 30/365* |
8.22 |
| Next RM400,000 |
0.40% |
Subsequent RM400,000 balance X 0.40% X 30/365* |
131.51 |
| Next RM500,000 |
0.60% |
Subsequent RM500,000 balance X 0.60% X 30/365* |
246.58 |
| Next RM500,000 |
0.80% |
Subsequent RM500,000 balance X 0.80% X 30/365* |
328.77 |
| Next RM500,000 |
1.00% |
Subsequent RM500,000 balance X 1.00% X 30/365* |
410.96 |
| Next RM1.0 Mil |
1.20% |
Subsequent RM1.0 Mil balance X 1.20% X 30/365* |
986.30 |
| Thereafter |
1.50% |
Subsequent RM200,000 balance X 1.50% X 30/365* |
246.58 |
| Total Interest Earned |
2,360.77
|
*366 if it is a leap year