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How are interest payments calculated?

Interest begins accruing the day after you deposit, and accrues on a daily basis. Interest payments are then made on the first business day of each month, compounding monthly.

Note: because interest accrues daily, the Interest Payment is based on the number of days that the deposit was in the account. If you deposit on the 15th and hold for the remainder of the month, you would receive an interest for ~15 days worth of interest.