Currently, the net interest is projected at approximately 2.0 - 2.1% per annum.
The interest is compounded daily and it fluctuates based on the market of the funds.
Let’s say your compounded interest rate is 2.1% per annum
The non-compounded interest rate will be slightly less and is 2.078% per annum.
Your daily interest rate will be 0.0057%.
= (2.078% / 365 days)
For example, you cash in RM1000.
After your cash in has been processed, your interest for your first day is RM0.06
= (0.0057% x RM1000).
On the second day, the total interest you receive is RM0.11
= [RM1000 - [(1+0.0057%) x (1+0.0057%) x RM1000]]
The interest will be compounded daily and it is calculated based on your cash in and your accrued interest.