Illustration of Interest Earned for PB MySalary Savings Account
1) Calculation of Interest:
PB MySalary Savings Account Interest Rate with effect from 16 August 2024
| Range | Nominal Interest Rate (p.a.) | Effective Interest Rate (p.a.)# |
| First RM10,000.00 | 0.00% | 0.00% |
| Next RM350,000.00 | 0.50% | 0.50% |
| Next RM500,000.00 | 0.70% | 0.70% |
| Thereafter | 1.00% | 1.00% |
#The effective interest rates shown above are applicable for the deposit amount within the range of the said interest rate tier.
Example 1:
1 day interest earned for an account with outstanding balance of RM600,000 is as follows:
| Range | Interest Rate (p.a.) | Calculation | Interest Earned (RM) |
| First RM10,000 | 0.00% | First RM10,000 balance X 0.00% X 1/366* | 0.00 |
| Next RM350,000 | 0.50% | Subsequent RM350,000 balance X 0.50% X 1/366* | 4.78 |
| Next RM500,000 | 0.70% | Subsequent RM240,000 balance X 0.70% X 1/366* | 4.59 |
| Thereafter | 1.00% | Subsequent RM0 balance X 1.00% X 1/366* | 0.00 |
| Total Interest Earned | 9.37 | ||
*365 if it is a non-leap year.
Example 2:
30 days interest earned for an account with outstanding balance of RM1,320,000 is as follows:
| Range | Interest Rate (p.a.) | Calculation | Interest Earned (RM) |
| First RM10,000 | 0.00% | First RM10,000 balance X 0.00% X 30/366* | 0.00 |
| Next RM350,000 | 0.50% | Subsequent RM350,000 balance X 0.50% X 30/366* | 143.44 |
| Next RM500,000 | 0.70% | Subsequent RM500,000 balance X 0.70% X 30/366* | 286.89 |
| Thereafter | 1.00% | Subsequent RM460,000 balance X 1.00% X 30/366* | 377.05 |
| Total Interest Earned | 807.38 | ||
*365 if it is a non-leap year.
2) Calculation of Bonus Interest:
The Bonus Interest is calculated based on Monthly Average Account Balance (MAAB) at a maximum MAAB of RM50,000 as follows:
MAAB = Sum of day end balance for the calendar month / number of days*
Bonus Interest = MAAB x prevailing bonus interest rate p.a. x (number of days* / number of days in a year)
* Number of days is calculated as follows:
Example 1:
For Bonus Interest at 1% p.a. and MAAB below RM50,000:
Customer A has a total of RM40,000 in his PB MySalary Savings Account as at 1 April 2018.
| Date | Transaction | Calculation of Bonus Interest |
| 5 April 2018 | Customer A pays 2 bills totaling RM1,500 via Bill Payment function in PB Online Banking/Mobile Banking. |
MAAB for April 2018 = [4(RM40,000) + 5(RM38,500) + 15(RM37,500) + 6(RM45,500)] / 30 days |
| 10 April 2018 | Customer A pays another bill of RM1,000 via Bill Payment function in PB Online Banking/Mobile Banking. | |
| 25 April 2018 | Customer A receives salary of RM8,000 through PB Electronic Credit Payment (ECP) Service. |
*366 if it is a leap year.
Example 2:
For Bonus Interest at 1% p.a. and MAAB above RM50,000:
Customer B has a total of RM100,000 in his PB MySalary Savings Account as at 1 May 2018.
| Date | Transaction | Calculation of Bonus Interest |
| 2 May 2018 | Customer B pays 3 bills totaling RM5,000 via Bill Payment function in PB Online Banking/Mobile Banking. | MAAB for May 2018 = [1(RM100,000) + 8(RM95,000) + 18(RM93,000) + 4(RM111,000)] / 31 days = RM96,064.52 Bonus Interest** for May 2018 = RM50,000 x 1% p.a. x 31/365* = RM42.46 |
| 10 May 2018 | Customer B transfers RM2,000 to his son by using PB Online Banking/Mobile Banking. | |
| 28 May 2018 | Customer B receives salary of RM18,000 through PB ECP Service. |
*366 if it is a leap year.
**The Bonus Interest is calculated based on MAAB at a maximum MAAB of RM50,000.
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