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How is interest on my ShoreBank Direct high-yield savings account calculated?

April 26, 2017calculated High-Yield savings account shorebank

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How is interest on my ShoreBank Direct high-yield savings account calculated?

2 Answers

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A. Funds from electronic deposits begin to accrue interest on the day they are received. Interest on your ShoreBank Direct high-yield savings account is accrued daily and compounded monthly. It will be added to your balance at the end of each month. If you close your account before interest is credited, you will lose the accrued interest.

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Posted

A. Funds from electronic deposits begin to accrue interest on the day they are received. Interest on your ShoreBank Direct High-Yield Savings Account is accrued daily and compounded monthly. It will be added to your balance at the end of each month. If you close your account or transfer out all of the funds before interest is credited, you will lose the accrued interest.