Hey bunqers 🌈
As you know, with bunq MassInterest you receive an interest rate higher than traditional banks - you'll get an annual interest of 1.56% (2.46% for 🇳🇱 Dutch and 🇮🇪 Irish residents), 3.85% for the first 4 months after signup for 🇩🇪 German Savings Accounts and 1.56% thereafter, 3.71% for 🇺🇸 USD and 🇬🇧 GBP Personal Savings Accounts, 1.05% for your 🇪🇺 EUR Business Savings Accounts and 2.3% for 🇺🇸 USD and 🇬🇧 GBP Business Savings Accounts. The interest rate earned will be paid out on a weekly basis 🚀
Wondering how it’s calculated and how you can foresee your annual MassInterest Rate? Learn more below.
How do we calculate MassInterest?
We take the interest rate, divide it by the number of days in the year, to get a daily interest rate. Then your interest is calculated every day at 23:59 CET and this is what happens:
- We start by taking all the Savings Accounts you have per currency;
- We take the balances of all accounts;
- We get all the payments made and received during the day;
- Based on the payments, we calculate what your lowest total balance of your Savings Accounts was during the day;
- If you have a Joint Savings Account (fully, legally shared between multiple people), we divide the balance of the account equally by the number of owners;
Afterwards, you’ll receive your weekly interest (calculated based on the daily interest rates you’ve had during the past week) on your weekly Payday. Further information on how to find it can be seen here.
In case of a disabled Payday toggle, you won’t receive MassInterest.
In case of a negative balance in any of your sub-accounts, we sum up the total balance of your account. If the total balance of your account is negative, the interest balance is zero for each day until resolved.
If you don’t have enough balance in your Savings Account to generate €0.01, MassInterest won’t be received.
How do I calculate MassInterest for a Personal Account?
The 1.56% (2.46% for Dutch and Irish residents), 3.71% ( for Multi-Currency Personal Savings Accounts), 2.3% ( for Multi-Currency Business Savings Accounts), and 1.05% (for Business accounts) interest rates are annual ones.
If you're a 🇳🇱 Dutch or 🇮🇪Irish resident
You get 2.46% MassInterest. If you have €100,000 in your bunq Savings Account every day, you’ll get €2,460 per year. The interest you earn will be paid out weekly. Thus, you’ll earn €2,460 / 52 weeks = €47.30 per week.
🇪🇺 If you're from any other European country
If you have €100,000 in your bunq Savings Account every day, you’ll get €1,560 per year. The interest you earn will be paid out weekly. Thus, you’ll earn €1,560 / 52 weeks = €30.
🇩🇪 If you’re a new bunq user and German resident
New German users who signed up on/after October 19, 2023 get 3.85% MassInterest. If you have €100,000 in your bunq Savings Account every day for the first 4 months, then you’ll get €320.83 per month [total of €1,283.32 for the whole 4-month period]. The interest you earn will be paid out weekly. Thus, you’ll earn €1,283.32 / 17 weeks = €75.49.
However, if you’ve registered before October 19, 2023, the interest rate applied on your account for the first 4 months will be 2.55% and your calculation will look like this:
- If you have €100,000 in your bunq Savings Account every day for the first 4 months, then you’ll get €212.5 per month [total of €850 for the whole 4-month period]. The interest you earn will be paid out weekly. Thus, you’ll earn €850 / 17 weeks = €50.
Once the 4-month promotion period has ended, your MassInterest rate will be 1.56% - you can see how the calculation would change in the section above.
If you’re saving in 🇺🇸 USD and 🇬🇧 GBP from a Personal accounts
Users who save in 🇺🇸 USD and 🇬🇧 GBP in their Personal accounts get 3.71% MassInterest. If you have $/￡100,000 in your bunq Savings Account every day, you’ll get $/￡3,710 per year. The interest you earn will be paid out weekly. Thus, you’ll earn 3,710 / 52 weeks = $/￡71.35 per week.
How do I calculate MassInterest for a Business Account?
The 1.05% interest rate is an annual interest rate for your Business Savings Account.
- The 1.05% interest rate is an annual interest rate for your Business Savings Account. When you have €100.000 on your bunq Savings Account every day, then you get €1050 per year.
- The day in which you will be paid your interest can be seen in your Payday.
The interest you earn will be paid out weekly. Thus, you’ll earn €1,050/ 52 weeks = €20.19 per week.
If you’re saving in 🇺🇸 USD and 🇬🇧 GBP from a Business accounts
Users who save in 🇺🇸 USD and 🇬🇧 GBP in their Business accounts get 2.3% MassInterest. If you have $/￡100,000 on your bunq Savings Account every day, then you get $/￡2,300 per year. The interest you earn will be paid out weekly. If you have $100,000 on your bunq account every day, then you get 1,350/12 = $/￡191.66 per month. If each month has about 4.3 weeks in it, you’ll receive 191.66/4.3 = $/￡44.57 for a week.
If you have $/￡100,000 in your bunq Savings Account every day, you’ll get $/￡2,300 per year. The interest you earn will be paid out weekly. Thus, you’ll earn 2,300 / 52 weeks = $/￡44.23 per week.
How do I calculate MassInterest for Joint Savings Account [part of Personal Account]?
Every member is receiving the interest rate which applies to them as per country and Savings Account currency for an equally divided part of the total amount from all funds in the Joint Savings Account.
If your Joint Savings Account receives a weekly interest rate of €100 and you co-own it with one more friend you'll each receive interest for €50 each (the interest earned on your Joint Savings Account divided by two).
Keep in mind that for your individual Personal Account you can receive MassInterest up to €100,000. This limit covers your Personal Savings Account/s as well as your Joint Savings Account/s.
What’s the minimum amount I need to have in my Savings Account?
🇳🇱 If you're a Dutch or Irish resident
To receive MassInterest, the funds you have in your Savings Account must be able to generate an interest of €0.01 on a daily basis. If the annual interest rate is 2.46%, the daily interest rate will be 2.46% / 365 = 0.00673973%. You should have at least €149 to generate €149 x 0.00673973% = €0.01 interest rate daily.
🇪🇺 If you're from any other European country
To receive MassInterest, the funds you have in your Savings Account must be able to generate an interest of €0.01 on a daily basis. If the annual interest rate is 1.56%, the daily interest rate will be 1.56% / 365 = 0.00427397%. You should have at least €234 to generate €234 x 0.00427397% = €0.01 interest rate daily.
🇩🇪 If you’re a German resident
First 4 months
To receive MassInterest, the funds you have in your Savings Account must be able to generate an interest of €0.01 on a daily basis. If the annual interest rate is 3.85% for the first 4 months, the daily interest rate will be 3.85% / 365 = 0.01054795%. You should have at least €95 to generate €95 x 0.01054795% = €0.01 interest rate daily.
If you’ve registered before October 19, 2023, the interest rate you’ll receive for the first 4 months. The daily interest rate will be 2.55% / 365 = 0.0069863%. Thus, you should have at least €144 to generate €144 x 0.0069863% = €0.01 interest rate daily.
After the promo period
Once the 4-month promotion period has ended, your MassInterest rate will be 1.56% - you can see how the calculation would change in the section above.
If you’re saving in 🇺🇸 USD and 🇬🇧 GBP from a Personal accounts
To receive MassInterest, the funds you have in your Savings Account must be able to generate an interest of €0.01 on a daily basis. If the annual interest rate is 3.71%, the daily interest rate will be 3.71% / 365 = 0.01016438%. You should have at least €99 to generate €99 x 0.01016438% = €0.01 interest rate daily.
If you’re saving in 🇺🇸 USD and 🇬🇧 GBP from a Business accounts
To receive MassInterest, the funds you have in your Savings Account must be able to generate an interest of €0.01 on a daily basis. If the annual interest rate is 2.3%, the daily interest rate will be 2.3% / 365 = 0.00630137%. You should have at least €159 to generate €159 x 0.00630137% = €0.01 interest rate daily.
🇪🇺 If you're from any other European country and saving from a Business account
To receive MassInterest, the funds you have in your Savings Account must be able to generate an interest of €0.01 on a daily basis. If the annual interest rate is 1.05%, the daily interest rate will be 1.05% / 365 = 0.00287671%. You should have at least €348 to generate €348 x 0.00287671% = €0.01 interest rate daily.
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