The interest rate (expressed as an annual percentage rate) comprises:
- A base rate, calculated daily. The base rate is not guaranteed and can vary in line with shifts in market conditions.
- A premium. This is applied to every deposit if:
- It has remained in the account continuously for at least 91 days;
- The total amount in the account is at least EUR 12,500 and a maximum of EUR 1,000,000.
The premium is not guaranteed and may change day by day based on possible rate changes.
The base rate and the premium depend on the balance of the account. They are applied cumulatively to the entire balance.
- Interest is capitalised and credited to the Short Savings Account on 1 January, 1 April, 1 July and 1 October.
- A savings account cannot have negative balance and so debit interest can never be payable.