How often is the interest accrued and compounded?

Interest on your account is accrued daily, just after midnight. That means we calculate how much interest you’re earning per day at the end of each day.

Then, on the first day of each month - we credit your account for all of the interest that you earned in the previous month.

Once the money is credited to your account, it will be compounded - meaning you will start to earn interest on the credited amount as well.