How is the interest calculated on a Jovia Free Checking account?

If you meet all of the minimum account requirements to receive interest on a Jovia Free Checking account balance, you will receive the current bonus interest rate on balances up to $25,000. The balance calculation is based on many factors, including the average end-of-day account balance and number of days in each month.

The calculation used to obtain interest is: (interest rate / 365) multiplied by the average end-of-day balance of the account for the month in question multiplied by the number of days in the month.

Back to Knowledge Base