How is the interest calculated and paid?
- The base interest of 2.00% p.a. is calculated daily and posted to your Bonus Pocket daily.
- The bonus interest is also calculated daily but is paid out in a lump sum at the end of the term.
Example (3-month tenure):
| Day | EOD Balance | Base Interest | Bonus Interest |
|
Day 1 (28 Mar) |
RM5,000.00 |
RM5,000.00 × (2% / 365) = RM0.27 |
RM5,024.78 × (1.18% / 365) = RM0.16 |
|
Day 2 (29 Mar) |
RM5,000.27 |
RM5,000.27 × (2% / 365) = RM0.27 |
RM5,000.27 × (1.18% / 365) = RM0.16 |
|
Day 3 (30 Mar) |
RM5,000.54 |
RM5,000.54 × (2% / 365) = RM0.27 |
RM5,000.54 × (1.18% / 365) = RM0.16 |
|
… |
… |
… |
… |
|
Day 92 (27 Jun - Last day of Savings Period) |
RM5,016.20 |
RM5,024.78 × (2% / 365) = RM0.28 |
RM5,024.78 × (1.18% / 365) = RM0.16 On the last day of the Savings Period, the cumulative bonus interest of RM14.72 will be paid into the Bonus Pocket. |