You can't beat 12% interest!
That makes me think the interest is paid if funds are held in the savings for the full months? Not sure. Let me know if you know the answer.
It's not paid at the begining of the month like a traditional bank. The interest can be claimed after 30 days. This seems to be how it I for peakd anyway. If you go into people's wallets their claim dates are all different. I think this is a better system than paying everyone on the same day of the month. You would maybe start to see patterns in people's behavior if that were the case. Ex. People withdrawing funds immediately after receiving their interest payment.