How is the interest rate calculated on the Fixed Savings Account?

We apply an annual interest rate to our savings accounts. This means that if you have money in your account for less than a year, you will receive the proportion of the annual interest rate that corresponds to your savings period. Interest starts to be calculated from the first calendar day after the money is deposited in your account until the last calendar day before the money is withdrawn.

Example with a 6-month maturity: If you deposit 10,000 SEK in a Sparkonto Fast for 6 months, you will receive interest on this amount for 180 days. If the account has an annual interest rate of 4%, you will receive 200 SEK in interest for this period:

10 000 SEK * (4% annual interest rate / 365 days) * 180 days = 200 SEK 

Example with a 12-month term: If you deposit SEK 10,000 in a Fixed Savings Account for 12 months, you will receive interest on this amount for 365 days. If the account has an annual interest rate of 4%, you will receive SEK 400 in interest for this period:

SEK 10 000 * 4% annual interest rate = SEK 400

You can find information on current interest rates and current account conditions on the Qred Bank website.