Is there a minimum balance to earn the interest in my GX Biz Account?
Yes, your account balance must be sufficient to generate interest of at least RM 0.01 in your GX Biz Account. If the daily interest calculation falls below RM0.01, this interest will not be credited to your Principal Account.
For example:
Example 1:
End of day balance: RM72.99
Daily interest calculation: RM72.99 X 2.5% p.a. / 365 days = RM0.004999315068
In this case, no interest will be credited to the account because the interest amount is rounded down when the third decimal number is below 5.
Example 2:
End of day balance: RM73.00
Daily interest calculation: RM73.00 X 2.5% p.a. / 365 days = RM0.00500000000
In this case, interest of RM0.01 will be credited to the account because the interest amount is rounded up when the third decimal number is 5 or above.