Hey there Mathijs 👋 Thanks for reaching out and being a part of our community!
Great to hear that you're making use of our Easy Savings Account! The interest you earn on your savings is indeed calculated based on the balance of your account. However, the interest is calculated daily and paid out monthly, not weekly.
The interest rate is annual, so the daily interest is calculated by dividing the annual interest rate by the number of days in a year. Then, this daily interest rate is applied to the balance of your account at the end of each day.
At the end of the month, all the daily interest amounts are added up and paid out to your account. So, if your balance is increasing, the interest you earn should also increase over time, as it's based on your daily balance.
If you're seeing the same amount of interest paid out each week, it might be worth double-checking your account balance and transactions. If you still have questions or need further clarification, feel free to reach out to us via our Support Center 🌈
For more information on how interest is calculated and paid out, you can check this out 🚀
