Does my Simple account earn interest?
Yep, the funds in your Simple account earn interest, but the rate is pretty nominal. Interest rates across the board are low at the moment, especially for the type of accounts we offer. Our rates are subject to change; the current annual percentage yield (APY) is 0.01%. Interest is calculated daily and credited to your account monthly. For more details, check out our Truth-in-Savings (TIS) disclosure on our Policies page.
If you open a Protected Goal Account you can earn an increased interest rate. More info on that here!