Make sure you use divide by 365 not 365.25
Digital bank Rize, By Al Rajhi Bank
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 Sep 1 2023, 12:53 PM
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All Stars
21,308 posts Joined: Jan 2003 From: Kuala Lumpur   
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Sep 1 2023, 01:41 PM
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Senior Member
1,259 posts Joined: Sep 2021
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QUOTE(1mr3tard3d @ Sep 1 2023, 09:26 AM) does it tally if calculate between 14 - 31 August? no doesnt tally at all.since you received on 13 August, then my theory would be right then your July interest would still be missing  Also when i called them up they say that profit is for July. Didnt mix with August. So i also donno wtf going on but left it at that since they say that is July profit. (although i know it doesnt make sense, supposed to get rm8+ profit but gotten rm18+) When comes to August profit then, im short of about RM17. If count July (the overpaid profit) + Aug profit = im still short of RM7.77 from what i should actually be getting. Basically this is my calculation what i should be getting:  QUOTE(johnnyenglish123 @ Sep 1 2023, 09:46 AM) gotten my interest (Mine was delayed from july as well) My received interest is 10% lower than my interest projection on google sheet lol QUOTE(xander2k8 @ Sep 1 2023, 09:38 AM) Because they extended the profit promo period 🤦♀️ hence they forgotten to put the 1st 5k on 5% and whereby now it is 4% flat across the board Just call and tell them they forgotten about 5% extended till 31 Dec 🤦♀️ whereby now it is 4% flat QUOTE(ronnie @ Sep 1 2023, 12:53 PM) Make sure you use divide by 365 not 365.25 doesnt make sense, because it is not a small amount.Mine short of about RM17. My relative who open rize on 10th Aug and put 20k in, receive only rm22+, instead of rm48+.. no withdrawals at all. 5k 5% = 0.68/day 15k 4% = 1.64/day 0.68 + 1.64 = 2.32/day x 21 days (11/8 to 31/8) = RM48.7.. but get rm22+ only.. this is more than 50% lower.. where is the logic.??? even if say whole amount is 4%, 20k 4% = 2.19/day x21 = RM45.99... This post has been edited by Optizorb: Sep 1 2023, 03:39 PM |
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Sep 1 2023, 02:03 PM
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Junior Member
199 posts Joined: Sep 2013
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QUOTE(Optizorb @ Sep 1 2023, 02:41 PM) no doesnt tally at all. Agreed. Mine also don't make sense. I even showed them my opening balance for 1 august not even adding money in and show them calculation, it is way short. By virtue of some comments here, some ok and some not ok, this means they do have some problem. So all these excuse forget to change to 5%, doesn't make sense. This 1% extra doesn't contribute to such big difference Also when i called them up they say that profit is for July. Didnt mix with August. So i also donno wtf going on but left it at that since they say that is July profit. (although i know it doesnt make sense, supposed to get rm8+ profit but gotten rm18+) When comes to August profit then, im short of about RM17. If count July (the overpaid profit) + Aug profit = im still short of RM7.77 from what i should actually be getting. Basically this is my calculation what i should be getting: doesnt make sense, because it is not a small amount. Mine short of about RM17. My relative who open rize on 10th Aug and put 20k in, receive only rm22+, instead of rm46+.. 5k 5% = 0.68/day 15k 4% = 1.64/day 0.68 + 1.64 = 2.32/day x 20 days (11/8 to 31/8) = RM46.4.. but get rm22+ only.. this is about 50% lower.. where is the logic.??? even if say whole amount is 4%, 20k 4% = 2.19/day x20 = RM43.80..... |
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Sep 1 2023, 02:16 PM
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Junior Member
241 posts Joined: Apr 2011
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I got my interest correct, same like my excel calculation.
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Sep 1 2023, 02:41 PM
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All Stars
21,308 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(Optizorb @ Sep 1 2023, 01:41 PM) no doesnt tally at all. Why don't you show us the actual date of deposits/withdrawals with amount so we can help you calculate.Also when i called them up they say that profit is for July. Didnt mix with August. So i also donno wtf going on but left it at that since they say that is July profit. (although i know it doesnt make sense, supposed to get rm8+ profit but gotten rm18+) When comes to August profit then, im short of about RM17. If count July (the overpaid profit) + Aug profit = im still short of RM7.77 from what i should actually be getting. Basically this is my calculation what i should be getting: doesnt make sense, because it is not a small amount. Mine short of about RM17. My relative who open rize on 10th Aug and put 20k in, receive only rm22+, instead of rm46+.. 5k 5% = 0.68/day 15k 4% = 1.64/day 0.68 + 1.64 = 2.32/day x 20 days (11/8 to 31/8) = RM46.4.. but get rm22+ only.. this is about 50% lower.. where is the logic.??? even if say whole amount is 4%, 20k 4% = 2.19/day x20 = RM43.80..... You cannot use standard per day rate. as each month has different days. Per Day = 0.05/365 = 0.00013698 for first RM5k Per Day = 0.04/365 = 0.00010958 for the next amount after deduct RM5000 |
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Sep 1 2023, 03:04 PM
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All Stars
21,308 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(Optizorb @ Sep 1 2023, 01:41 PM) My relative who open rize on 10th Aug and put 20k in, receive only rm22+, instead of rm46+.. My calculation for your relative should get RM51.23 if they open and deposit RM20k on 10 August 2023.5k 5% = 0.68/day 15k 4% = 1.64/day 0.68 + 1.64 = 2.32/day x 20 days (11/8 to 31/8) = RM46.4.. but get rm22+ only.. this is about 50% lower.. where is the logic.??? even if say whole amount is 4%, 20k 4% = 2.19/day x20 = RM43.80..... Assume no withdrawals. |
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Sep 1 2023, 03:18 PM
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Senior Member
1,259 posts Joined: Sep 2021
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QUOTE(ronnie @ Sep 1 2023, 02:41 PM) Why don't you show us the actual date of deposits/withdrawals with amount so we can help you calculate. bro, you realize you are just grasping at straws?You cannot use standard per day rate. as each month has different days. Per Day = 0.05/365 = 0.00013698 for first RM5k Per Day = 0.04/365 = 0.00010958 for the next amount after deduct RM5000 that amount of silly decimals wont have any significant effect on the end result. Especially when the difference is not merely few cents few cents off. And its not even off by 1 or 2 ringgit either. For my case RM17 missing (or rm7), or my relative's case, 50% lower RM22++ missing. but sure, be my guest and help me calculate. I would love to know if i somehow calculated it wrongly. 22 July = account opened +20 23 July = first deposit, total balance amounting to RM7600 So start interest calculation from 23/7 ~ 31/7 and 1/8 ~ 31/8 right? View transactions from bottom to top: First image: Transactions from 23rd July to 2nd August » Click to show Spoiler - click again to hide... « Second image: Transactions from 3rd August to 19th August » Click to show Spoiler - click again to hide... « Third image: Transactions from 20th August to 31st August » Click to show Spoiler - click again to hide... « In extremely long text format: » Click to show Spoiler - click again to hide... « My own calculation: » Click to show Spoiler - click again to hide... « This post has been edited by Optizorb: Sep 1 2023, 11:08 PM |
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Sep 1 2023, 03:54 PM
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All Stars
21,308 posts Joined: Jan 2003 From: Kuala Lumpur
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Clearly we need to know how RIZE calculates it's End of Day balance.
Do they that the lowest balance of the day ? |
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Sep 1 2023, 04:10 PM
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Senior Member
3,266 posts Joined: Apr 2008
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i am quite impress with all of u who count till daily interest to counter check if it is correct or not
for me i just agak agak math saja cause my running balance is between 5k to 10k just keep going up and down... as long as i get the amount of interest then count back how much my monthly average balance janji not below 5k then ok la |
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Sep 1 2023, 04:31 PM
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All Stars
21,308 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(Optizorb @ Sep 1 2023, 03:18 PM) bro, you realize you are just grasping at straws? that amount of silly decimals wont have any significant effect on the end result. Especially when the difference is not merely few cents few cents off. And its not even off by 1 or 2 ringgit either. For my case RM17 missing (or rm7), or my relative's case, 50% lower RM22++ missing. but sure, be my guest and help me calculate. I would love to know if i somehow calculated it wrongly. 22 July = account opened +20 23 July = first deposit total amounting to RM7600 So start interest calculation from 23/7 ~ 31/7 and 1/8 ~ 31/8 right? View transactions from bottom to top: First image: Transactions from 23rd July to 2nd August » Click to show Spoiler - click again to hide... « Second image: Transactions from 3rd August to 19th August » Click to show Spoiler - click again to hide... « Third image: Transactions from 20th August to 31st August » Click to show Spoiler - click again to hide... « In extremely long text format: » Click to show Spoiler - click again to hide... « My own calculation: » Click to show Spoiler - click again to hide... «  Based on my calculation, you should get more. Until 31-July 2023: RM8.26 Until 13-Aug-2023: RM23.67 This post has been edited by ronnie: Sep 1 2023, 04:33 PM |
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Sep 1 2023, 04:53 PM
Show posts by this member only | IPv6 | Post
#1111
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Senior Member
4,644 posts Joined: Jan 2003
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QUOTE(johnnyenglish123 @ Sep 1 2023, 09:46 AM) gotten my interest (Mine was delayed from july as well) Then you have to check with them My received interest is 10% lower than my interest projection on google sheet lol QUOTE(gooroojee @ Sep 1 2023, 10:04 AM) Missing 1% of the 5k at 5% is a grand total of rm4.166 right Assuming no withdrawal and fixed 5k the difference is 20% in profit calculation QUOTE(woowoo1 @ Sep 1 2023, 02:03 PM) Agreed. Mine also don't make sense. I even showed them my opening balance for 1 august not even adding money in and show them calculation, it is way short. By virtue of some comments here, some ok and some not ok, this means they do have some problem. So all these excuse forget to change to 5%, doesn't make sense. This 1% extra doesn't contribute to such big difference You need to check with them and compare with previous month profit distribution 🤦♀️ if it is lower by 20% then you know they calculate wrongly 🤦♀️ |
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Sep 1 2023, 05:07 PM
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Senior Member
1,259 posts Joined: Sep 2021
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called rize up to report about the lower interest credited.
as usual, say they will investigate and get back through email once got solution. I ask them if other users got face this also right, then they say yes got few users have reported on lower interest credited as well. Then i ask what is the cut off time for interest calculation, CS said interest calculation cut off time is midnight, so 11.59pm. Basically end of day balance, so the interest calculation shouldn't be that complicated............... |
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Sep 1 2023, 05:58 PM
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All Stars
21,308 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(Optizorb @ Sep 1 2023, 05:07 PM) called rize up to report about the lower interest credited. Your long text calculation calculated RM600 from 23-27 July, but you actually deposit on 28/7. as usual, say they will investigate and get back through email once got solution. I ask them if other users got face this also right, then they say yes got few users have reported on lower interest credited as well. Then i ask what is the cut off time for interest calculation, CS said interest calculation cut off time is midnight, so 11.59pm. Basically end of day balance, so the interest calculation shouldn't be that complicated............... But i agree that their calculation out of whack for your account. My account for the last 2 months are perfect interest credits... now i just wanna win the weekly prizes |
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Sep 1 2023, 06:23 PM
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Junior Member
199 posts Joined: Sep 2013
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QUOTE(xander2k8 @ Sep 1 2023, 05:53 PM) Then you have to check with them No way I calculate wrongly, like I mention in August I only have money in no out. When I showed rize Customer service what outstanding I have on 1 August, I did not even add the money in. I use the 1st August balance X 31 days \365 days and I just use 4% and not even 5% and it is short so much. Even rize customer understand my calculation and said will check and revertAssuming no withdrawal and fixed 5k the difference is 20% in profit calculation You need to check with them and compare with previous month profit distribution 🤦♀️ if it is lower by 20% then you know they calculate wrongly 🤦♀️ This post has been edited by woowoo1: Sep 1 2023, 06:24 PM |
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Sep 1 2023, 06:39 PM
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Senior Member
1,259 posts Joined: Sep 2021
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QUOTE(ronnie @ Sep 1 2023, 05:58 PM) Your long text calculation calculated RM600 from 23-27 July, but you actually deposit on 28/7. what talking you sia.But i agree that their calculation out of whack for your account. from 23 - 27 July balance is 7600. Then i made withdrawal of 600 on 28 July. So for 28 July the balance is 7000. There is no deposit on 28/7 |
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Sep 1 2023, 07:06 PM
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#1116
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Senior Member
3,266 posts Joined: Apr 2008
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I think with such issue many ppl might even move their money and out it to Versa 4.3% at least over that side no ppl make noise about missing payouts just a little complicated calculation and slower withdrawal or deposit
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Sep 1 2023, 07:13 PM
Show posts by this member only | IPv6 | Post
#1117
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Junior Member
187 posts Joined: Apr 2020
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Yeap, lmao funny how the system is so not consistent.. Hopefully the missing interest will be credited in the next cycle
Mine is missing around rm 17 😂 Edit, it's actually missing rm 27 This post has been edited by johnnyenglish123: Sep 1 2023, 08:54 PM |
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Sep 1 2023, 10:47 PM
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All Stars
21,308 posts Joined: Jan 2003 From: Kuala Lumpur
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QUOTE(Optizorb @ Sep 1 2023, 06:39 PM) what talking you sia. from 23 - 27 July balance is 7600. Then i made withdrawal of 600 on 28 July. So for 28 July the balance is 7000. There is no deposit on 28/7  I read it in this manner actually. correct me if i'm wrong. |
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Sep 1 2023, 11:04 PM
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Senior Member
1,259 posts Joined: Sep 2021
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QUOTE(ronnie @ Sep 1 2023, 10:47 PM) I read it in this manner actually. correct me if i'm wrong. the date is always at the bottom of the transaction, not the top. like this:  |
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Sep 1 2023, 11:14 PM
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All Stars
21,308 posts Joined: Jan 2003 From: Kuala Lumpur
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i stand corrected.... i should have compare against my app which i did not do
Nevertheless i think RIZE needs to give you explanation how they get the first interest payout. |
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