How do I earn 5.00% APY?
To qualify for 5.00% APY on total Savings balances up to $250,000 in two ways:
- Receive at least $500 in eligible direct deposits each month
- Maintain a daily account balance of $5,000 or more
If you do not meet either of the criteria above, you can still earn 5.00% APY on balances up to $250,000 in your Pay Autosave pocket or ONE@Work Save.
In all instances, 5.00% APY is limited to an aggregate Savings balance of up to $250,000. Any Savings balances that do not qualify for 5.00% APY will earn 1.00% APY. APYs are as of 9/28/23 but may change at any time before or after account opening. Fees may reduce earnings on this account.
What is Annual Percentage Yield (APY)?
Annual Percentage Yield (APY) is the interest you can earn on your money over the course of a year. APY is expressed as a percentage based on the compound interest you earn on the dollar amount in your account. This amount is calculated daily and added to your account at the end of the month.
How do you calculate interest?
We use the daily balance method which means that interest earned on your Savings balances accrues daily and is posted to your One Cash account monthly.
How can I see how much interest I’ve earned?
- Open the One app
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Tap Discover More (globe icon)
- At the top of the screen, you can see your total earnings
- Tap all the ways you've saved, to see a breakdown of your earnings
You can also tap here to see your APY in the One app.