Savings Accounts

 

Savings accounts accrue interest on a monthly basis. They may be deposited into and withdrawn from at any time.

Interest rate is represented by APY, the Annual Percentage Yield. The monthly interest rate is represented by: (1 + APY)(1/12) - 1


Average Daily Balance (ADB)APY
0 - 9,999,9995%
10,000,000 - 24,999,9997%
25,000,000 - 49,999,9999%
50,000,000 - 99,999,99911%
100,000,000 - 249,999,99913%
250,000,000 - 499,999,99915%
500,000,000 - 999,999,99917%
1,000,000,000 +19%
 

The monthly rate is calculated based on the Average Daily Balance (ADB) of your account. This is determined by: (sum of account at end of every day of month) / (number of days in month)

The interest payment is calculated as (Interest Rate) * (Average Daily Balance). Payments are based on the ADB, not on the balance at the time interest is run.