it seems GX calculation messed up somewhere, cause it doesnt make sense. 4941 x 2% /366 = 0.27 exactly.

- those who have clean 4941.00 in pocket only get 0.67 cents (0.41 + 0.26)
- those have some leftovers 4941.xx in pocket get 0.68 cents (0.41 + 0.27)

mine was a clean pocket, so i also got 0.67 x 10 pockets
10 cents missing basically

im guessing for tmr i should start getting 0.68 based on my finding above.. we'll see.

Thank you boss. You're absolutely correct. Using 11 decimal places as per GXBank Interest Calc FAQ.


New magic number is 4941.01


*All 2 decimal points except where otherwise specified. Rounding as per GXBank's doc ie: round on 3rd decimal point. Not round up or round down, just round.

anyway as per their own statement given, they round to 2 decimal places and doing so by looking at the 3rd decimal place whether it is 5 and above to round up.
so we know it is definitely looking at 3rd decimal place.

whichever way you look at it, for the 2% the return of 4941 is most definitely 0.27. No buts or ifs regarding this.
The only way you could get 0.26 was if one part of the calculation used inconsistently with the rest of the calculation, i.e. the amount of decimals being counted when multiplying the interest with amount. Basically the one soonwai was showing above regarding the 15 decimals vs 11 decimals usage.
this i agree and i did say this:

Programmer 1 did the base 3% calculation
Intern Programmer 2 did the Raya 2% calculation.
This could explains the inconsistency of "round down, round up, round"

In the T&C,
I never understand why the need to minus to get the 2% Raya bonus
Can they just add 2% instead ?

Really bodoh person buat kerja....

Important to note that this is not a rounding mistake then it becomes clear.

The Base 3% is rounded up all this while.

RM61 in Main Account get 0.01 sen daily.

It's the new Raya 2% which is done "incorrectly"    :confused:

but for Rize... the rates offered is way lower

As far as GXB is concerned, I've tested that 0.005 rounds to 0.01.
RM61 @ 3% gives 1 sen interest. (0.005000000000015) This is with at least a precision of 15 decimal points.

14 decimal points will get 0 sen. (0.00499999981)

Then you're back to 1 sen at 8 decimal points precision. (0.00500017)

Huh??
Calculator can make mistake? If that they trying to say??
Lolz

firstly 3% / 366 = has unlimited amount of decimals.
if you allow your calculator to go up to 1000 decimals, it will show you 1000 decimals.


most programming languages have pre-defined amount of decimals to take. precision 15 in this case.
and to take up to 15 decimal points only, means the rest got truncated and rounded up/down.

the first 16 decimals of 3%/366 = 0.0000819672131147
to make it 15 decimals, the 16th decimal gets rounded (up in this case)

15 decimals = 0.000081967213115
11 decimals = 0.00008196721

in deciding to use 11 or 15 decimals for the calculation, will yield different results, and in our case, it has consequences that affects the final outcome for us.

if we take 15 decimals:
0.000081967213115 * 61 = 0.005000000000014999

we can leave behind the rest of the decimals as only the first 3 decimals are important in deciding whether GX pays out that interest.
and in this case, by using 15 decimals, the end output would be 0.005
When you round it according to GX's conditions. You get 0.01 and thus eligible for the minimum payout of at least 1 cent.

if we follow GX documentation, they take 11 decimals in their calculation examples:
0.00008196721 * 61 = 0.00499999981
leave behind the rest of decimals as we only look at first 3 decimals when determining the payout.
and in this case, by using 11 decimals, the end output would be 0.004
Again, round it according to GX's conditions. You get 0.00 and thus the minimum threshold is not achieved and hence no payout.

for your reference 8 decimals gets you: 0.00008197 * 61 = 0.00500017, 0.005 and this would be eligible for the payout after rounding

and finally, all this ties up to the kerfuffle the other day regarding the payout which GX gave.
The way they pay it out implies heavily that their math is funny.

Firstly take a look at this for 4941.00 deposit:


If you follow the 11 decimals which GX used in their documentation, there is no way 3%/366 * 4941 will get you 0.41.
11 decimals gets you: 0.40499998461 = 0.40 payout


So how did it show up as 0.41?
Because 15 decimals was used (just like in their main 3% calculation which enables RM61 to get 1 cent payout. and since this 3% is directly paid out like normal, so it makes sense here 15 decimals was used too)
15 decimals gets you: 0.405000000001215 = 0.41 payout


Now the tricky part comes in with their 2% bonus. and because their bonus is calculated as such 5% - 3% = 2%
If the decimals were consistent throughout when calculating the 5% portion and the 3% portion, the 2% portion will always get you 0.27 for 4941.00
It doesn't matter you used 11 or 15 decimals. So long as you stick with the same amount of decimals each time!


So how then did it show up as 0.26?
The answer: quite simply, GX cocked it up by not being consistent in decimal usage for their calculations.
We already know from above that their 3% main portion was calculated using 15 decimals, despite their documentation examples showing them calculate using 11 decimals only.
Since this raya bonus is a new thing, what if then the 5% portion was calculated using 11 decimals just like in their documentation, while the 3% portion remains with the 15 decimals as it has always been the case?
You get:

Mystery solved.

Now if GX hadn't cocked it up like this and they used the same 15 decimals to calculate the 5% portion just like they do with the 3% portion, then 4941.00 will absolutely be able to get you 0.68 payout.
Because of this cock up, you need 4941.01 in order to get 0.68 payout.

Yeah, I'm sure. Less (or more) precision just affects accuracy, it doesn't make a number larger or smaller.

The quota is base on date 23rd April end or 1 000 000 000 max savings pockets actually ?

What if someone withdraw some money after 23rd April ? Then the 1 billion quota will be available again right ?

And they announce one day early. What if suddenly all people deposit last minutes before tomorrow ? Will exceed their 1 billion quota right ?

🤔

to answer my ques:

i guess based on this, seems like will be the case la.. so for those of you who still have quota for savings pocket better hurry and just create it first.. utilize or dont utilize that one later only talk

Has anyone else got this email from GXBank asking for further details on income and supporting documents. Looks legit. Why so mah fan one? With deadline to answer some more.

You can change limit.

That was the first option I search first when I install gxbank app cause I heard about rize with their 5k issue. Didn't want that to happen to me.

Why will GX bank Untung?

too easy to transfer we complain,
too difficult to transfer we complain.

Customers are king

agree
recipient name not equal to bank account name = raise red flag for checking

April is my 6th month. I didn't get the cash back for GU. I contacted support and they say promo ended on 15th April. So everyone should not get cash back starting from 15th April regardless when you sign up.

Yes mine charged 23.04.2024

I'm trying to argue now with GX bank because during signup TNC says 6 months rite? Doesn't make sense they terminate early.

rm61 for 6% effective interest. 😁

RM61 x 11 pockets = 11 cents/day for RM671 capital

RM671 x 5% /366 = 9 cents/day for RM671 capital

wont mati la.

good to contribute some back to malaysia(ns) lo

we are 11 cents thief
main wallet + 10 pockets!!

11 cents x 30 days
RM3.30 per month not bad ma