Get quick answers to common questions about our products and services.
When is interest paid?
Interest is accrued daily and paid out monthly on the 1st of the following month. If you close your account at any point in the month, you'll still receive the interest accrued up to that point—see what happens to interest if a customer closes their account.
More in Interest
- Can Griffin change the interest rate on my account?
- Do you round off daily interest accrual?
- How do I find out my interest rate?
- How is my interest calculated?
- What accounts earn interest?
- What are interest rates?
- What happens to interest if a customer closes their account?
- What happens to interest if a customer withdraws all their funds?
- What interest rates does Griffin offer?
- What is a gross interest rate?
- What is AER?
All FAQ collections
- About Griffin· 9 answers
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Learn more about the different types of bank account we offer.
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Learn about the additional data required before 02 March 2026
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Find out more about our fees and charges, how to access your payment history, and more.
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Learn how the Financial Services Compensation Scheme protects eligible deposits held with Griffin, who is covered, and up to how much.
- Griffin app· 16 answers
Get help with setting up security features, managing your organization, and integrating with third parties.
- Interest and commission· 16 answers
Learn more about how interest and commission work at Griffin, when you can expect to be paid, and how we manage rate changes.
- Payments· 11 answers
Find out what payment types we support, our payment limits, and Confirmation of Payee.
- Sandbox· 8 answers
Our sandbox is available to everyone, free forever, and can be used to trial our products and build test integrations.
- Verify· 19 answers
Learn more about Verify, our automated KYC/KYB onboarding solution for fintechs.