Why does my daily interest fluctuate, and why might I not see interest credited on some days?
Your daily interest may vary due to:
• Changes in your day’s end balance.
• Rounding adjustments (interest is calculated to six decimal places but credited after rounding to two decimal places).
• Residual balances being carried forward, which may affect future payouts.
If your calculated daily interest is below RM 0.01, it will not be credited immediately but will accumulate until it reaches RM 0.01.
To illustrate: Example: 1. Interest rate (per annum): 3.00%. 2. Day’s end balance on Day 1 (1 Jan 2025): RM300.00 3. If you don’t make any new transactions over the next four days, the table below shows how daily interest accumulates and fluctuates slightly due to rounding and the residual balance.
Day | Interest paid | Day’s end balance | Interest accrued | Net interest accrued (Interest accrued + residual balance from previous day) | Settled interest (Rounded net Interest Accrued to 2 d.p.) | Residual balance (Net interest accrued – settled interest) |
1 (1 Jan 2025) | N/A | 300.00 | 300.00 x 3.00% / 365 = 0.024658 | 0.024658 + 0.00 = 0.024658 | 0.02 | 0.004658 |
2 (2 Jan 2025) | 0.02 | 300.02 | 300.02 x 3.00% / 365 = 0.024659 | 0.024659 + 0.004658 = 0.029317 | 0.03 | -0.000683 |
3 (3 Jan 2025) | 0.03 | 300.05 | 300.05 x 3.00% / 365 = 0.024662 | 0.024662 + (-0.000683) = 0.023979 | 0.02 | 0.003979 |
4 (4 Jan 2025) | 0.02 | 300.07 | 300.07 x 3.00% / 365 = 0.024663 | 0.024663 + 0.003979 = 0.028642 | 0.03 | -0.001358 |
5 (5 Jan 2025) | 0.03 | 300.10 | 300.10 x 3.00% / 365 = 0.024666 | 0.024666 + (-0.001358) = 0.023308 | 0.02 | 0.003309 |