How is daily interest calculated?
Interest is calculated based on the following formula:
 Interest Amount = End of day Balance x (Interest Rate / Total Days of the Year)

“End of day Balance” refers to the balance in your respective Main Account and Savings Pocket(s) at 23:59:59.

The second decimal point will be rounded up to the nearest number if the third decimal point is 5 or above. Otherwise, it will be rounded down. Examples are as follows:
 0.02499 is rounded to 0.02
 0.02501 is rounded to 0.03
 0.99999 is rounded to 1.00
 0.99199 is rounded to 0.99


"Total Days of the Year" refers to either 365 for nonleap years or 366 for leap years, depending on the specific year for which the “End of day Balance” is being calculated.
Example for (3% p.a. X 365) =
On Day 1 (29 Dec 2023), you deposited RM50 upon account opening 
End of day balance = RM50 Interest rate = 3% p.a. Total days of the year = 365  Interest rate per day = 3% p.a. / 365 days = 0.00008219178  Multiply by end of day balance = 0.00008219178 X RM50 = RM0.00410  Interest round to nearest cent = RM0.00 
On Day 2 (30 Dec 2023), you deposited RM2,000 into the account 
End of day balance = RM2,050 Interest rate = 3% p.a. Total days of the year = 365
Interest rate per day = 3% p.a. / 365 days = 0.00008219178 Multiply by end of day balance = 0.00008219178 X RM2,050 = RM0.16849 Interest round to nearest cent = RM0.17 
On Day 3 (31 Dec 2023), no deposit and withdrawal activity in the account 
End of day balance = RM2,050.17 Interest rate = 3% p.a. Total days of the year = 365
Interest rate per day = 3% p.a. / 365 days = 0.00008219178 Multiply by end of day balance = 0.00008219178 X RM2,050.17 = RM0.16850 Interest round to nearest cent = RM0.17 
Example for (3% p.a. X 366) =
On Day 4 (1 Jan 2024), you withdrew RM700 from the account 
End of day balance = RM1,350.34 Interest rate = 3% p.a. Total days of the year = 366
Interest rate per day = 3% p.a. / 366 days = 0.00008196721 Multiply by end of day balance = 0.00008196721 X RM1,350.34 = RM0.11068 Interest round to nearest cent = RM0.11 