Interest on your balance is accrued daily and compounded monthly. On the last business day of the month, we calculate the interest you've earned and add it to your Vault.Bank Savings account. You'll see the interest earned on your monthly statement.
Here are some helpful concepts that you might find useful:
- Interest Rate: The percentage applied to the daily balance.
- Daily Balance Method: The percentage applied to the daily balance.
- Compounding: Interest may compound daily, monthly, or annually, allowing you to earn interest on your interest.