• Interest rate not correct

I opened a savings account on Bunq because of the 2.01% interest.
The strange thing is that I do not receive that interest percentage, only the half of that (+/-). I mailed support last Wednesday and got an automatic answer plus the remark that if the answer was not what I was looking for, I could reply to the mail. I did. Got new answer: We will come back to you in one day.
That was 6 days ago and stil no answer.

I hope anybody can help me here.

    @New-Lime-Parakeet-2370773479#277808 Hi! Has the savings account been active for more than a month?

      Hey Peter 👋 It seems that our guides have replied to your support inquiry, however, if you have further questions, be sure to reply to the ticket and we'll help you further 🙌

        20 days later

        I wonder what the outcome of this topic is because I am experiencing the same thing.

          @New-Purple-Penguin-2082856768#278306 Seeing half of what you expected might be caused by having a Joint savings account with 2 people, as each member received interest over their own (equal) share of the money that is in it. Other reasons for seeing other values as expected might be calculating with the wrong interest rate (for example there's a promo for residents of Germany in the first 4 months to receive 2.55% interest p.a., but you might be a new user from Denmark getting only 1.56% interest p.a. currently), or other types of calculation errors.

          If you want to share more information and get an explanation on your specific case, you can either do so here (keep in mind this is a public forum) or just contact bunq Support to help your privately. What I haven't seen so far are any actual errors made in calculating interest payments on the bunq side, but of course it's always a good idea to double-check by yourself.

            @Jakob-Y#278307 It’s a joint account and I do see half of the amount I expected to see so that’s probably why. Thanks for your help.

              6 months later

              I have a similar issue. I understand that the interest payments are halved in the interface. But the total value of the account corresponds to the balance of all deposits and withdrawals added to the half of the interest payments for each of the two users of the joint account. Is there a way to see the total value in the joint account?

                @New-Raspberry-Dog-750878110#286177 Hey Henrique 👋 Thanks for your question! If you go to Home, select the savings account and click on Interest Rate (the interest percentage on the upper left side of the screen), you'll see the Total interest earned 🌈

                  5 months later

                  I have the same question. I have a personal account, and a business account. Both have savings at a rate of 2.46%. I have twice as much €€ in my business savings (not a joint account) as my personal savings, but the weekly interest payday for both accounts is basically the same. Am I missing something? 🤔

                    @New-Ivory-Marmoset-1443857413#292576 The interest rate of business accounts isn't 2,46% but 1,56%

                      3 months later

                      The interest rate for bunq is on geld.nl 3,36%. My account says it is 2,16%. Is Bunq fooling new customers? Why don't I get 3,36%?

                        @New-Scarlet-Parrot-3157548639#295153 The 'base' interest rate is 2,16% and there is now a bonus interest rate for having a higher balance on your savings account than your highest amount between Januari 1 2024 and June 30, 2024. Anything above the maximum threshold between those dates, is considered 'bonus' interest rate, which is 3,36%.
                        An example: https://together.bunq.com/d/60114-new-massinterest-eea-residents-now-earn-up-to-336-interest-on-savings

                        _- Between January and June 2024, your highest savings balance was €5,000. You'll earn 2.16%* on funds up to €5,000 until the end of December 2024. This equals €108 annually in earned interest.

                        Interest is calculated daily and paid out weekly. Daily interest is €108 / 366 (leap year days) = €0.29508. Weekly interest is 7 x €0.29508 = €2.07.

                        • In July, you add an extra €2,000 to your savings (Now in total €7,000). This extra €2,000 earns 3.36%* interest. Keeping the extra €2,000 until December earns you €33.60 semi-annually in interest.

                        This bonus interest is also calculated daily and paid out weekly. Daily bonus interest is €67.20 / 366 = €0.18361. Weekly bonus interest is 7 x €0.18361 = €1.29.

                        In total, you'll earn €2.07 in regular interest + €1.29 in bonus interest = €3.36 weekly interest._

                          Write a Reply...