RE: HBD Savings And Interests Analysis

[sanjeevm]

Few Questions :

• Is the interest paid a monthly interest of 10% or annual, but paid monthly ?
• Do we need to stake the interest again ? or its compounded automatically in savings ?
• If compounded, then does the calculation takes care of using the compounded amount for the next interest ?

Any post that has all the details ?

Comments

[arcange]

Is the interest paid a monthly interest of 10% or annual, but paid monthly ?

The (current) 10% rate is annual but paid every 30 days, so your savings will increase by (savings_hbd_balance * APR) /12 every 30 days.
Be aware that you have to "manually" claim your interests by having your savings balance changed.

Do we need to stake the interest again ? or its compounded automatically in savings ?

They automatically go to your savings

if compounded, then does the calculation takes care of using the compounded amount for the next interest ?

Yes, they do.

[sanjeevm]

Should be a safe heaven for investment then.