How often is interest compounded?

Asked a year ago
At Emigrant Direct, interest is compounded on a daily basis. This means that interest is accrued and added to your account every day, allowing your savings to grow faster. This frequent compounding ensures that you earn interest not just on your initial deposit, but also on the accumulated interest. The daily compounding method maximizes your overall return and allows for the compounding effect to start benefiting your savings immediately. Whether you have a short-term or long-term savings goal, with Emigrant Direct, you can benefit from the power of daily compounding to help your money work harder for you.
Christian Allen is the editor / author responsible for this content.
Answered May 3, 2024

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