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 (2-month tenure):
| Day | EOD Balance | Base Interest | Bonus Interest |
|
Day 1 (28 Aug) |
RM5,000.00 |
RM5,000.00 × (2% / 365) = RM0.27 |
RM5,000.00 × (0.58% / 365) = RM0.08 |
|
Day 2 (29 Aug) |
RM5,000.27 |
RM5,000.27 × (2% / 365) = RM0.27 |
RM5,000.27 × (0.58% / 365) = RM0.08 |
|
Day 3 (30 Aug) |
RM5,000.54 |
RM5,000.54 × (2% / 365) = RM0.27 |
RM5,000.54 × (0.58% / 365) = RM0.08 |
|
… |
… |
… |
… |
|
Day 61 (27 Oct - Last day of Savings Period) |
RM5,016.20 |
RM5,016.20 × (2% / 365) = RM0.27 |
RM5,016.20 × (0.58% / 365) = RM0.08 On the last day of the Savings Period, the cumulative bonus interest of RM4.88 will be paid into the Bonus Pocket. |