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 How interest are being calculated?

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SUSJasonLeeX
post Jul 2 2015, 10:06 PM, updated 9y ago

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https://www.mplusonline.com.my/macsecos/get...oducts/m-silver


The interest is 2.7% per annual

How do they calculate the interest since the money in trust account will move in and out when trading everyday..


wild_card_my
post Jul 3 2015, 02:25 AM

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"Interest bearing for trust account as high as 2.7% p.a."

As high, so no guarantee?

Anyway, when it is being declared per annum (p.a) they can charge/give the interest based on a daily rest, just like the management fees of some unit trusts.

Disclaimer: I haven't read the product details in full.
Zanmai0146
post Jul 3 2015, 04:22 AM

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QUOTE(JasonLeeX @ Jul 2 2015, 10:06 PM)
https://www.mplusonline.com.my/macsecos/get...oducts/m-silver
The interest is 2.7% per annual

How do they calculate the interest since the money in trust account will move in and out when trading everyday..
*
U mean saving interest?
SUScute_miao
post Jul 3 2015, 06:27 AM

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Pls explain bro
Hansel
post Jul 3 2015, 03:44 PM

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QUOTE(JasonLeeX @ Jul 2 2015, 11:06 PM)
https://www.mplusonline.com.my/macsecos/get...oducts/m-silver
The interest is 2.7% per annual

How do they calculate the interest since the money in trust account will move in and out when trading everyday..
*
You must read the details further - is it done on a daily basis, or monthly basis on a particular day/date, etc,... And everything is done via computers, the computer will see the amount inside the account at a particular preset time and day/date, then impose the interest amount calculation formula onto that amount, and come out with the interest amount.

 

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