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What’s the Interest Rate Pocket?
What’s the Interest Rate Pocket?
François avatar
Written by François
Updated over a week ago

The Interest Rate Pocket offers you the opportunity to:

  • Earn a fixed interest rate on the funds you hold in the Interest Rate Pocket.
    By holding cash in this pocket, you’ll benefit from an annual fixed interest rate that accrues daily. Regardless of whether you’re a Standard or Prime customer, if you open the Interest Rate Pocket, you’ll receive a promotional 5% per annum fixed interest rate for a limited period. Learn more about this promotional rate in this article.
    After this promotional period, the fixed interest rate is for 4% pa for Prime customers and 2% pa for Standard customers.

  • Earn a variable interest rate on EUR and USD deposits. To access the most up-to-date percentages, kindly check this link for EUR funds and this one for USD funds and refer to the "30-Day Yield" within the "Portfolio Characteristics" section. For example, on the 2nd April 2024 you could have potentially earned as high as 5.30% p.a. on your USD deposits and up to 3.73% p.a. on your EUR deposits (on an annual basis) based on the variable interest rate on that day. Kindly note that the variable yield amount you see in the app may vary from that displayed in BlackRock’s fund brochure due to applicable service fees associated with your plan. For further information regarding fees, please refer to this article.

With the Interest Rate Pocket, you can start earning interest without the hassle of locking your funds away for a set period. Interest accrues daily, whether you keep funds in the “Cash with fixed interest” section, or have them deposited in Money Market Funds (MMFs). Of course, you can add more money and/or withdraw it at any time.

The funds you invest in EUR and USD MMFs are invested with BlackRock, a global leader in asset management, specialising in short-term money market instruments to optimise the growth of your assets.

What are money market funds?

Money market funds (MMFs) are investments that typically consist of a diverse selection of short-term bonds issued by financial institutions or governments.

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