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Banking AEON Bank Malaysia, Malaysia's First Digital Islamic Bank
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Eugenet
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 Sep 8 2025, 04:20 PM
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Getting Started
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QUOTE(soulreap @ Sep 3 2025, 01:11 PM) Depends on what you want. Reminder that all Aeon bank's interest is credited monthly only so calculation is not "divided by 365(days)" only but with an additional "times 30(days)", including both main account and saving pockets. The saving pockets do not round off .005 daily but retains the value with exception unless the .005 is on the last day of the month. Personally, I just left 24.34 in the main acc and 2.03 in 20 pockets  This is actually a good idea because currently the RM20.00 stuck at AEON Bank doesn't earn any interest at all. With your method, I will earn RM0.21 interest every month on RM64.94 of deposit. This is roughly 3.88% annualised. I'll start next month. |
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Eugenet
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Sep 8 2025, 08:42 PM
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Getting Started
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QUOTE(Optizorb @ Sep 8 2025, 08:07 PM) means on the last day of the month, deposit 4.34 in the main acc, and 2.03 in 20 pockets? No. You have to leave the money in the whole month. However, I would leave main acc at RM20.00 because the interest there is a miniscule 0.25%. I wouldn't put more money into it than necessary. So the total deposit at AEON will be RM60.60 (RM20.00 main acc and 20x pockets with RM2.03 each). Expected monthly interest is RM0.20 which translates to 3.96% annualised. Pretty decent compared to big fat 0% previously. This post has been edited by Eugenet: Sep 8 2025, 09:21 PM |
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Eugenet
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Sep 9 2025, 10:26 PM
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Getting Started
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QUOTE(ornehx @ Sep 9 2025, 08:26 PM) I am new to this stuff. But if I understand some of you are depositing specific magic number amount to get advantage of the rounding up interest. Is there a specific reason not to just put in say 20K to get bigger returns? Or just to beat the system? No offence meant, if I come across as too direct. Just really curious with all the interesting maths You are correct to question. There people in this forum trying to squeeze a few extra sen out of banks. You won't get rich, but you have fun. I enjoyed soulreap's idea. Mainly, I use KAF Bank 5%, RYT Bank 4%, Atlas Bank 3.88%. AEON Bank is very low down the list. However the 3% becomes useful from time to time so that is why I still maintain this account. Hope this clarifies. |
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