Daily interest accrual is a standard practice for any account that offers an Annual Percentage Yield (APY). This means that your account will earn interest each day, which will then be paid out to you at the end of each month. Importantly, the interest payout at the end of the month will encompass the accrued interest for any day during that month when your account held a balance.
This approach ensures that you receive the full benefit of your balance, no matter how many days your money was deposited during the month. In other words, even if your balance fluctuates throughout the month, the interest you receive will be calculated based on the ending daily balance and paid accordingly at the end of the month. This practice helps maximize the growth potential of your funds and aligns with our commitment to providing you with a fair and transparent financial experience.
Kindly be aware that in the absence of a balance in your account, no interest will be earned.