EPF Interest Rate

EPF has announced that their interest rate would be paid daily, instead of monthly.

This would mean possibly some additional extra interest amount to us, although technically, I would look at it, more like having the system to be more correct, rather than a mean to provide more income to EPF contributor.

So, for instance, currently, if a RM100 contributed on 15th of a month, the additional interest obtained would be RM100 * 5% * 15/365 = RM0.20 extra. This is assumed 5% interest rate.

While this amount might not be a lot, but compoundedly and over a long period of time, it could be significant.