The interest rate on your account is variable and equal to 65% of the midpoint of the federal funds rate target range as established by the Federal Open Market Committee of the Federal Reserve minus a margin of 29.5 bps.

The daily balance method is used to calculate the interest on your account, which applies a daily periodic rate equal to 1/365 of the Interest Rate to the collected balance in the account each day. Interest will begin to accrue no later than the next business day following the banking day on which the funds were deposited.

Interest on your account will be compounded and credited on a monthly basis. If you close your Account, you will receive any interest that has accrued as of the date your Account is closed.