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How and when is interest on my Discover Online Savings Account calculated?

April 26, 2017calculated discover online savings account

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How and when is interest on my Discover Online Savings Account calculated?

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Interest is compounded on a daily basis and credited to your account on a monthly basis. Interest begins to accrue on the business day of your deposit if the deposit occurred at or before 2PM EST. After 2PM EST, you will start to earn interest on the next business day.