Progressive interest calculation of ANZ Super Savings
ANZ Super Savings interest calculation use "Progressive" method. "Progressive" method means every tier of the balance placement will have each tiered interest rate. The interest calculation is calculated daily and paid at every end of the month.
Illustration of progressive interest rate calculation
Customer place IDR 800,000,000 in ANZ Super Savings, with interest rate shown in below table
|Balance tier||Interest rate (gross p.a.)|
|< 10 million||0.00%|
|10 million <= balance < 100 million||0.50%|
|100 million <= balance < 250 million||1.50%|
|250 million <= balance < 500 million||2.50%|
|500 million <= balance < 1 billion||4.50%|
|>= 1 billion||5.00%|
Note: The interest rate shown is for illustration only and subject to change.
The interest payment that will be received by customer (before tax)
|Customer balance||Interest rate (p.a.)||Interest for customer in a year (gross p.a.)||Interest for customer in a month|
|Total = 800 million||22,450,000||1,870,833|
Effective date: 21 March 2012
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