Earning interest with Savings Accounts
What is the interest rate?
The per annum (p.a.) interest rate on your Savings Account will depend on your plan. This rate is used to calculate the interest earned before taxes.
The p.a. interest rate will show under your Savings Account balance in-app. You can get more information by tapping 'Details' and viewing the 'Deposit information' document.
How is the 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.
The minimum threshold for interest payable is RON0.01 net interest earned after taxes is less than RON0.01 on a given day, no interest will be payable.
Interest on your Savings Account starts accruing on the same calendar day you deposit funds and continues until the day before you withdraw them.
Can the interest rate change?
We can adjust the interest rates on your Savings Account according to our T&Cs. For a decrease, you'll be notified at least two months in advance, and you can choose to terminate your account before the change occurs. Increases may happen immediately, with potential notifications either before or after.
To access information on notice periods, follow these steps in the app:
- Go to 'Home' on the bottom menu
- Below your balance, tap 'Accounts'
- Select your Savings Account
- Tap 'Details' and select 'Terms & Conditions'
Changing plan
If you change your plan, your interest rate will change accordingly when the plan change comes into effect.