Interest on all of our accounts is calculated daily and is paid into your account on the 1st of every month.
For our Simple Saver, 32, 45, 95, and 120 Day Notice Accounts, and Reward Savings account, interest is calculated based on your “asset value” - which is the sum of all of your deposits plus any interest and government bonuses (for Cash Lifetime ISA) that has already been paid. The calculation we use for this figure will also take into account the compounding effect of any monthly paid interest.
For our Cash ISA, Open Access Cash ISA, and 90 Day Notice, interest is calculated based on the money you’ve contributed, interest paid, and interest due (interest that has been earned but not yet credited to your account).
Further information on how interest is calculated for our Cash ISAs can be found here.
You can see how much interest you have earned each day in the Moneybox app by viewing your “today’s interest” figure in the Wealth tab
Additionally, you can find an example of how much interest you could earn for your account in the Summary Box found on our website, which can be accessed by selecting your chosen account under the ‘Savings’ heading, and scrolling down.
Please note that our advertised interest rates are annual equivalent rates (AER) and our rates are also variable, which means they could go up or down in future.