You can apply an interest rate to an account, to forecast the amount of interest that will be applied to the account. This is useful to forecast how much extra you will pay with loans and credit cards, as well as how much you will earn with savings accounts. You can change the interest settings for an account at any time with the instructions below.
- Go to the Account Summary page
- Select Manage Account for the account you want to change the interest for and select Interest settings
- You can then select the frequency that the interest will be applied, the frequency can be weekly, fortnightly, monthly or quarterly.
You will also need to enter the annual interest rate
- Click the Save button