How are Mamo Rewards calculated?

Updated:

Rewards are paid on your lowest Mamo wallet balance during the month. For example, if you maintain a balance of AED 1,000 for 25 days in a month, and a balance of AED 200 for 5 days of the month, rewards will be calculated as 200 x 4% (annual), applied monthly.


The rewards calculation logic to distribute monthly uses the CAGR formula: (1 + 0.04)1/12 - 1 = 0.32737% per month (4% per year, applied monthly). For example, if the lowest balance in June is AED 2,400, rewards will be calculated as: ((1 + 0.04)1/12 - 1) * 2,400 = AED 7.86, deposited on July 1st.

Was this article helpful?
1 out of 1 found this helpful