News

Announcement


Discontinuation of CAINT2_CO Current Account Offering to Business Entities

Please be advised that effective 1 June 2021, Affin Bank Berhad (Bank) will cease the offering of CAINT2_CO Current Account to business entities. All existing CAINT2_CO Current Account holders will be converted to SMEDGE Current Account on 1 June 2021 without any changes to the account number and the operating procedure.
 
SMEDGE Current Account is a split multi-tier interest bearing current account as below:
 
Balance Range Tier (RM) Interest Rate (per annum) *
0 – 50,000 0.00%
>50,000 – 500,000 0.40%
>500,000 1.40%

* Interest rate of SMEDGE Current Account with effective from 1 April 20201 and subject to changes as the Bank may announce from time to time.

Illustration of Interest Earned for SMEDGE Current Account

Example 1:
One (1) day interest earned for an account with outstanding balance of RM60,000 is as follows:
 
Balance Range Tier
(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 0.40% Subsequent RM10,000 x 0.40% / 365* 0.11
>500,000 1.40% - 0.00
Total 0.11
*366 if it is a leap year
 
Example 2:
One (1) year interest earned for an account with outstanding balance of RM1,000,000 is as follows:
 
Balance Range Tier
(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 0.40% Subsequent RM450,000 x 0.40% 1,800.00
>500,000 1.40% Subsequent RM500,000 x 1.40% 7,000.00
Total 8,800.00
 
Member of Perbadanan Insurans Deposit Malaysia (PIDM) and protected by PIDM up to RM250,000 for each depositor.
 
For further enquiries, kindly contact us at smecare@affinbank.com.my
 
Thank You.

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