Where will the interest earned be posted to?
The interest earned will be posted to your respective Main Account and Savings Pocket(s) on the same day.
Example 1:
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Day 1 (1 Jan 2024): You deposit RM1,250 into the account |
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Main Account |
End of day balance = RM1,250 RM1,250.00 X 3% p.a. / 366 days = RM0.10245 Interest post to Main Account on 1 Jan 2024 = RM0.10 (rounded down) |
Example 2:
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Day 2 (2 Jan 2024): You created Savings Pocket 1 and deposited RM1,150 from Main Account |
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Main Account |
End of day balance = RM100 RM100.00 X 3% p.a. / 366 days = RM0.00819 Interest post to Main Account on 2 Jan 2024 = RM0.01 (rounded up) |
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Savings Pocket 1 |
End of day balance = RM1,150 RM1,150.00 X 3% p.a. / 366 days = RM0.09426 Interest post to Savings Pocket 1 on 2 Jan 2024 = RM0.09 (rounded up) |
Example 3:
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Day 3 (3 Jan 2024): You created Savings Pocket 2 and deposited RM50 from Main Account |
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Main Account |
End of day balance = RM50 RM50.11 X 3% p.a. / 366 days = RM0.00409 Interest post to Main Account on 3 Jan 2024 = RM0.00 (rounded down) |
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Savings Pocket 1 |
End of day balance = RM1,150 RM1,150.09 X 3% p.a. / 366 days = RM0.09426 Interest post to Savings Pocket 1 on 3 Jan 2024 = RM0.09 (rounded down) |
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Savings Pocket 2 |
End of day balance = RM50 RM50.00 X 3% p.a. / 366 days = RM0.00409 Interest post to Savings Pocket 2 on 3 Jan 2024 = RM0.00 (rounded down) |