How is interest calculated on a savings account with variable interest rate?

Interest for the money in the account is calculated for all calendar days of the year, taking leap years into account. For deposits, interest is calculated from the first bank day after Froda has received the money. For withdrawals, interest is calculated until the day before the withdrawal date.

The interest is an effective annual rate and is calculated according to the interest rate that Froda applies at any given time for the savings account. Current interest rates and terms for the savings account can be seen on the website or on My Pages.