News

Announcement


Discontinuation of Affin Plus Current Account for Business Entities/Organizations Effective 2 September 2020

Please be advised that effective 2 September 2020, Affin Bank will cease the offering of Affin Plus current account to all business entities and organization (including association). All existing Affin Plus current accounts will be converted to Affin SMEdge current account on 2 September 2020 without any changes to the account number and operating procedure.
 
Affin SMEdge current account is a current account with competitive on interest rates as below computed on split tier basis:
 
Deposit Range (RM) Interest Rate (p.a.) *
0 – 50,000 0.00%
>50,000 – 500,000 0.65%
>500,000 1.60%
* Interest rate of Affin SMEDGE current account as at 7 August 2020 and subject to change at the bank discretion
 

Illustration of Interest Earned for Affin SMEdge Current Account

Example 1:

1 day interest earned for an account with outstanding balance of RM60,000 is as follows:
 
Deposit Range (RM) Interest Rate (p.a.) Balance (RM) Interest Earned (RM)
0 – 50,000 0.00% First RM50,000 x 0.00% / 365* 0.00
>50,000 – 500,000 0.65% Subsequent RM10,000 x 0.65% / 365* 17.80
>500,000 1.60% - 0.00
Total 17.80
*366 if it is a leap year
 
Example 2:

365 days interest earned for an account with outstanding balance of RM1,000,000 is as follows:
 
Deposit Range (RM) Interest Rate (p.a.) Balance (RM) Interest Earned (RM)
0 – 50,000 0.00% First RM50,000 x 0.00% 0.00
>50,000 – 500,000 0.65% Subsequent RM450,000 x 0.65% 2,925.00
>500,000 1.60% Subsequent RM500,000 x 1.60% 8,000.00
Total 10,925.00
 
For further enquiries, kindly contact us at smecare@affinbank.com.my
 

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