Yup yup. I calculate 3.7083333% effective rate.

I see. So SA interest will be credited month end, while FD interest will be credited upon maturity. That means can use the SA interest when credited.

Yup, the girl told me that the debit card has no hidden fees or charges whatsoever, I can choose to use it or just keep it aside for 5 years. Or cancel it if I want to. But it's their procedure to apply for debit card when open SA.

Say 7-9 months FD at 3.88%, SA (minimum RM100k) at 2.85%.

E.g. Total FD amount: 500k
Total to be earmarked into SA: 500k x 20% = 100k

Interest earned for FD 500k @ 3.88% (p.a.) = 19,400
Interest earned for SA 100k @ 2.85% (p.a.) = 2,850
Total interest earned (p.a.) = 22,250
Effective rate (p.a.) = 22,250/600,000 = 3.708%