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How is interest on Savings Accounts calculated and paid?

The interest rate can vary depending on your pricing plan. To see the rate and when you can expect your next interest payment, go to 'Home' → tap the account selector below your balance → scroll down and select your Savings Account → press the 'Details' button. 

Through your app, you can create more than one Savings Account. Although you see these as separate Savings Accounts within the app, they're viewed as one single deposit by Sutton Bank. As they're viewed as one single deposit, this means that interest is paid on that single balance in one single payment.

Interest is calculated based on the deposit balance at Sutton Bank each day, and is paid on a monthly basis. When you receive this payment, it's distributed across your Savings Accounts in the same way it would have been distributed if Sutton Bank paid it to each Savings Account individually.

This means the interest is split based on the balances of the Savings Accounts at the time the interest was calculated by Sutton Bank.

For more information on interest calculations, refer to this article.