Earning interest with Instant Access Savings
What is the interest rate?
The interest rate on your Instant Access Savings will depend on your plan and your combined personal savings balance.
Your per annum (p.a.) interest rate is used to calculate the interest earned before taxes.
How is interest calculated and paid?
Interest is compounded and paid daily. This means you earn 1/365th (or 1/366th in leap years) of the per annum (p.a.) interest rate on your closing balance every day.
Any withholding tax on the accrued interest will be deducted before the interest is paid to you. The minimum threshold for interest payable is $0.01 in the corresponding savings currency. If net interest after taxes is below $0.01, it accrues until it reaches $0.01, then is paid.
Can the interest rate change?
We have the right to change the per annum (p.a.) interest rate as per our T&C's at our discretion, and will let you know no later than the day the change occurs.
If you don't agree to the new rate, you can terminate your Instant Access Savings account. To access information on notice periods, you can read the Instant Access Savings Terms.
What happens when I change plan?
If you change your plan, your interest rate will change accordingly when the plan change comes into effect.