Goal Interest Earned

Goal Interest Earned

The goal interest is calculated daily based on day-end balance in the goal as follows:

Goal Interest = Day-end Balance in Goal x [Overnight Policy Rate (OPR) – 0.50% p.a.] x (1 / 365* days)

* 366 days for leap year

Example 1:

Customer achieved the goal on Goal Maturity Date and OPR remains unchanged throughout the Goal Tenure.

Goal Creation Date 1 August 2021
Goal Maturity Date 10 August 2021
Goal Tenure 10 days
Goal Amount RM1,000
Current OPR 1.75% p.a.
Goal Interest Rate 1.25% p.a. (1.75% p.a. – 0.50% p.a.)

 

Day Savings Amount (RM) Day-end Balance in Goal (RM) Interest Rate (% p.a.) Calculation Interest Earned (RM)
1 10.00 10.00 1.25 RM10 x 1.25% p.a. x 1/365 0.00
2 150.00 160.00 1.25 RM160 x 1.25% p.a. x 1/365 0.01
3 30.00 190.00 1.25 RM190 x 1.25% p.a. x 1/365 0.01
4 200.00 390.00 1.25 RM390 x 1.25% p.a. x 1/365 0.01
5 50.00 440.00 1.25 RM440 x 1.25% p.a. x 1/365 0.02
6 100.00 540.00 1.25 RM540 x 1.25% p.a. x 1/365 0.02
7 60.00 600.00 1.25 RM600 x 1.25% p.a. x 1/365 0.02
8 100.00 700.00 1.25 RM700 x 1.25% p.a. x 1/365 0.02
9 100.00 800.00 1.25 RM800 x 1.25% p.a. x 1/365 0.03
10 200.00 1,000.00 1.25 RM1,000 x 1.25% p.a. x 1/365 0.03
Total Goal Interest Earned 0.17


Example 2:

Customer achieved the goal on Goal Maturity Date and OPR increased on day 4 onwards.

Goal Creation Date 1 August 2021
Goal Maturity Date 15 August 2021
Goal Tenure 15 days
Goal Amount RM1,000
Current OPR Day 1 to 3 = 1.75% p.a.
Day 4 to 15 = 2.00% p.a.
Goal Interest Rate Day 1 to 3 = 1.25% p.a. (1.75% p.a. – 0.50% p.a.)
Day 4 to 15 = 1.50% p.a. (2.00% p.a. – 0.50% p.a.)
Day Savings Amount (RM) Day-end Balance in Goal (RM) Interest Rate (% p.a.) Calculation Interest Earned (RM)
1 10.00 10.00 1.25 RM10 x 1.25% p.a. x 1/365 0.00
2 50.00 60.00 1.25 RM60 x 1.25% p.a. x 1/365 0.00
3 150.00 210.00 1.25 RM210 x 1.25% p.a. x 1/365 0.01
4 50.00 260.00 1.50 RM260 x 1.50% p.a. x 1/365 0.01
5 50.00 310.00 1.50 RM310 x 1.50% p.a. x 1/365 0.01
6 100.00 410.00 1.50 RM410 x 1.50% p.a. x 1/365 0.02
7 80.00 490.00 1.50 RM490 x 1.50% p.a. x 1/365 0.02
8 20.00 510.00 1.50 RM510 x 1.50% p.a. x 1/365 0.02
9 100.00 610.00 1.50 RM610 x 1.50% p.a. x 1/365 0.03
10 50.00 660.00 1.50 RM660 x 1.50% p.a. x 1/365 0.03
11 50.00 710.00 1.50 RM710 x 1.50% p.a. x 1/365 0.03
12 100.00 810.00 1.50 RM810 x 1.50% p.a. x 1/365 0.03
13 30.00 840.00 1.50 RM840 x 1.50% p.a. x 1/365 0.03
14 100.00 940.00 1.50 RM940 x 1.50% p.a. x 1/365 0.04
15 60.00 1,000.00 1.50 RM1,000 x 1.50% p.a. x 1/365 0.04
Total Goal Interest Earned 0.32

PB MySalary Savings Account

PB MySalary Savings Account Interest Rate with effect from 16 August 2024

Range Nominal Interest Rate (p.a.) Effective Interest Rate (p.a.)#
First RM10,000.00 0.00% 0.00%
Next RM350,000.00 0.50% 0.50%
Next RM500,000.00 0.70% 0.70%
Thereafter 1.00% 1.00%

#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 RM600,000 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 1/366* 0.00
Next RM350,000 0.50% Subsequent RM350,000 balance X 0.50% X 1/366* 4.78
Next RM500,000 0.70% Subsequent RM240,000 balance X 0.70% X 1/366* 4.59
Thereafter 1.00% Subsequent RM0 balance X 1.00% X 1/366* 0.00
Total Interest Earned 9.37

*365 if it is a non-leap year

Example 2:
30 days interest earned for an account with outstanding balance of RM1,320,000 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 30/366* 0.00
Next RM350,000 0.50% Subsequent RM350,000 balance X 0.50% X 30/366* 143.44
Next RM500,000 0.70% Subsequent RM500,000 balance X 0.70% X 30/366* 286.89
Thereafter 1.00% Subsequent RM460,000 balance X 1.00% X 30/366* 377.05
Total Interest Earned 807.38

*365 if it is a non-leap year

 

Calculation of Bonus Interest:

The Bonus Interest is calculated based on Monthly Average Account Balance (MAAB) at a maximum MAAB of RM50,000 as follows:

MAAB = Sum of day end balance for the calendar month / number of days*
Bonus Interest   = MAAB x prevailing bonus interest rate p.a. x (number of days* / number of days in a year)  

* Number of days is calculated as follows:

  1. New account opened -
    From the day the PB MySalary Savings Account is opened to the last day of the calendar month. For subsequent months, the number of days will be the total number of days in the respective calendar month.
  2. Existing account -
    The number of days will be the total number of days in the respective calendar month.

Example 1:
For Bonus Interest at 1% p.a. and MAAB below RM50,000:
Customer A has a total of RM40,000 in his PB MySalary Savings Account as at 1 April 2018.

5 April 2018 Customer A pays 2 bills totaling RM1,500 via Bill Payment function in PBe or PB Engage. MAAB for April 2018
= [4(RM40,000) + 5(RM38,500) + 15(RM37,500) + 6(RM45,500)] / 30 days
= RM39,600.00

Bonus Interest for April 2018
= RM39,600 x 1% p.a. x 30/365*
= RM32.54
10 April 2018 Customer A pays another bill of RM1,000 via Bill Payment function in PBe or PB Engage.
25 April 2018 Customer A receives salary of RM8,000 through PB Electronic Credit Payment (ECP) Service.  

*366 if it is a leap year

Example 2:
For Bonus Interest at 1% p.a. and MAAB above RM50,000:
Customer B has a total of RM100,000 in his PB MySalary Savings Account as at 1 May 2018.

2 May 2018 Customer B pays 3 bills totaling RM5,000 via Bill Payment function in PBe or PB Engage MAAB for May 2018
= [1(RM100,000) + 8(RM95,000) + 18(RM93,000) + 4(RM111,000)] / 31 days
= RM96,064.52

Bonus Interest** for May 2018
= RM50,000 x 1% p.a. x 31/365*
= RM42.46

 
10 May 2018 Customer B transfers RM2,000 to his son by using PBe or PB Engage
28 May 2018  Customer B receives salary of RM18,000 through PB ECP Service. 

*366 if it is a leap year
**The Bonus Interest is calculated based on MAAB at a maximum MAAB of RM50,000.

ACE Enterprise Account

ACE Enterprise Account Interest Rate with effect from 16 August 2024

Range Nominal Interest Rate (p.a.) Effective Interest Rate (p.a.)#
First RM50,000.00 0.00% 0.00%
Next RM500,000.00 0.20% 0.20%
Next RM1,000,000.00 0.40% 0.40%
Next RM2,000,000.00 0.60% 0.60%
Thereafter   0.80% 0.80%

#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 RM1.5 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 1/366* 0.00
Next RM500,000 0.20% Subsequent RM500,000 balance x 0.20% x 1/366* 2.73
Next RM1,000,000 0.40% Subsequent RM950,000 balance x 0.40% x 1/366* 10.38
Next RM2,000,000 0.60% Subsequent RM0 balance x 0.60% x 1/366* 0.00
Thereafter 0.80% Subsequent RM0 balance x 0.80% x 1/366*   0.00
Total Interest Earned 13.11

*365 if it is a non-leap year

Example 2:
30 days interest earned for an account with outstanding balance of RM5.0 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 30/366* 0.00
Next RM500,000 0.20% Subsequent RM500,000 balance x 0.20% x 30/366* 81.97
Next RM1,000,000 0.40% Subsequent RM1,000,000 balance x 0.40% x 30/366* 327.87
Next RM2,000,000 0.60% Subsequent RM2,000,000 balance x 0.60% x 30/366* 983.61
Thereafter   0.80% Subsequent RM1,450,000 balance x 0.80% x 30/366*  950.82
Total Interest Earned 2,344.27

*365 if it is a non-leap year

PLUS Savings Account

PLUS Savings Account Interest Rate with effect from 16 August 2024

Range Nominal Interest Rate (p.a.) Effective Interest Rate (p.a.)#
First RM10,000.00 0.00% 0.00%
Next RM350,000.00 0.05% 0.05%
Next RM500,000.00 0.15% 0.15%
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 1/366* 0.00
Next RM350,000 0.05% Subsequent RM350,000 balance X 0.05% X 1/366* 0.48
Next RM500,000 0.15% Subsequent RM190,000 balance X 0.15% X 1/366* 0.78
Thereafter 0.25% Subsequent RM0 balance X 0.25% X 1/366* 0.00
Total Interest Earned 1.26

*365 if it is a non-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 180/366* 0.00
Next RM350,000 0.05% Subsequent RM350,000 balance X 0.05% X 180/366* 86.07
Next RM500,000 0.15% Subsequent RM500,000 balance X 0.15% X 180/366* 368.85
Thereafter 0.25% Subsequent RM1,140,000 balance X 0.25% X 180/366* 1,401.64
Total Interest Earned 1,856.56

*365 if it is a non-leap year

MoneyPLUS Savings Account

MoneyPLUS Savings Account (MoneyPLUS SA) Interest Rate Structure with effect from 8 August 2024

Range Nominal Interest Rate (p.a.) Effective Interest Rate (p.a.)#
First RM5,000.00 0.10 0.10
Thereafter 0.20 0.20

#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 RM500,000 is as follows:

Range Interest Rate (p.a.) Calculation Interest Earned (RM)
First RM5,000 0.10

First RM5,000 balance X 0.10% X 1/366*

 0.01
Thereafter 0.20

Subsequent balance RM495,000 X 0.20% X 1/366*

 2.70
Total Interest Earned 2.71

*365 days if it is a non-leap year.

Example 2:
30 days interest earned for an account with outstanding balance of RM500,000 is as follows:

Range Interest Rate (p.a.) Calculation Interest Earned (RM)
First RM5,000 0.10

First RM5,000 balance X 0.10%

X 30/366*

 0.41
Thereafter 0.20

Subsequent balance RM495,000 X 0.20% X 30/366*

 81.14
Total Interest Earned 81.55

*365 days if it is a non-leap year.

 

Calculation of Bonus Interest:

The Bonus Interest Rate is as follows:

Category Criteria Bonus Interest Rate (% p.a.)
Save Deposit minimum RM5,000 1.00
Pay Pay minimum RM500 bill online 0.50
Spend Spend minimum RM500 via MoneyPLUS SA’s Debit Card 0.50

The Bonus Interest is calculated based on Monthly Average Balance (MAB) and up to a maximum MAB of RM100,000 as follows:

MAB =

Sum of day end balance for the calendar month/ Number of days*
Bonus Interest   =

MAB x prevailing Bonus Interest Rate p.a. x (Number of days* / Number of days in a year)

*Number of days is calculated as follows:-

  1. New account opened -
    From the day the MoneyPLUS Savings Account is opened to the last day of the calendar month. For subsequent months, the number of days will be the total number of days in the respective calendar month.
  2. Existing account -
    The total number of days in the respective calendar month.

Example 1:
Customer A has met all “Save” , “Pay “and “Spend” categories and maintain MAB above RM5,000.

1 Aug 2024 Customer A deposits RM10,000 into MoneyPLUS SA. MAB for August 2024
= [(RM 10,000 X 18 days) + (RM9,450 X 10 days) + (RM8,650 X 3 days) ] / 31 days
=

RM9,691.93

Bonus Interest for August 2024
=

RM9,691.93 X (1.00 + 0.50 + 0.50)

% p.a. X (31 days/ 366 days*)
=

RM16.41
19 Aug 2024 Customer A pays 5 bills online with total bills is RM550.
29 Aug 2024 Customer A spends RM800 using his MoneyPLUS SA’s Debit Card.  

*365 days if it is a non-leap year.

Example 2:
Customer B met “Save, “Spend” and “Pay” categories and maintain MAB below RM5,000.

Date Description Remarks
1 Aug 2024 Customer B deposits RM5,000 in his MoneyPLUS SA.

Customer B is not entitled to any Bonus Interest as he did not maintain minimum MAB of RM5,000 in the MoneyPLUS SA in August 2024 even though he has met the “Save”, “Spend” and “Pay” categories criteria.
5 Aug 2024 Customer B spends RM300 using his MoneyPLUS SA’s Debit Card.
15 Aug 2024 Customer B pays bills via JomPay with total bill amount RM600.
29 Aug 2024 Customer B spends RM200 using his MoneyPLUS SA’s Debit Card.

 

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