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.
However, interest earned daily will only be credited to your account every twice a month in the form of payout.