Interest Rates

Are you making the most of your money? Choosing a bank account that offers high interest rates is the easiest way to increase your income.

interest-image
What Is an Interest Rate?
Interest is the fee charged when money is lent out to a borrower. Interest rate is the percentage of the total borrowed amount at which the fee is determined.
When you deposit your money in an account, you are lending funds to the bank to finance its operations. Hence, they must pay you interest on the deposited balance.

Earn upto 5% with Juno Metal

Create a free FDIC-Insured checking account
in less than 5 mins and start saving today

5% Bonus Rate on Checking Account

Get 5% Cashback on brands of your choice

Send money internationally

rewards
Simple vs Compound Interest
The interest you earn on your checking or savings account deposit can either be simple or compounded.
Simple Interest
Simple interest is calculated only on the original deposit. You earn interest only on the principal.
Compound Interest
Compound interest is calculated on the initial deposit, plus all accumulated interest. Think of it as earning interest on interest.
interest-image
interest-image
The Power of Compounding
Interest is a powerful tool in the world of personal finance. Once you master sound financial habits like budgeting, frequent contributions into a high yield account can create tremendous long-term wealth.
The snowball effect of compounding means that the more interest that is added to your balance, the faster your savings grows, even if the amount is too small to seem important.
APY vs Interest Rate Explained
APY, or Annual Percentage Yield, is the effective rate of return on a deposit after you account for compounding. Interest Rates do not account for daily, weekly, or monthly compounding and so the real yield you earn on a deposit, or APY, maybe slightly higher than the advertised Interest Rate.
interest-image
interest-image
Is Interest Income Taxed?
Yes, interest earned on a checking or savings account deposit is considered as income and is taxable under the regular brackets.
rewards rewards

Get 5% Cashback on 5 Brands of Your Choice

Juno Debit Card rewards you like a credit card without the high fees and debt

Apple Store Google Store

Juno (CapitalJ Inc.) is a financial technology company, not a bank. Banking services provided by Evolve Bank and Trust, Members FDIC. The Juno card is issued by Evolve Bank and Trust, Member FDIC, pursuant to license by Mastercard International.

Cryptocurrency services are powered by Zero Hash LLC and Zero Hash Liquidity Services LLC and may not be available in all states. Terms and conditions apply. When you buy or sell cryptocurrency, a difference between the current market price and the price you buy or sell that asset for is called a spread. However, unlike most other exchanges, Juno does not charge an additional trading fee. All forms of investments carry risks, including the possible loss of principal.

Cryptocurrency is not subject to FDIC insurance. The cryptocurrency assets in your Zero Hash account are not held at Juno or Evolve Bank and Trust. Juno and Evolve Bank and Trust are not responsible for the cryptocurrency assets held in any Zero Hash account. Neither Juno, nor Evolve Bank and Trust, is involved in the purchase, sale, or exchange of fiat funds for cryptocurrency or custody of the cryptocurrencies. Crypto on Juno is not currently available in HI and NY. Cryptocurrencies are highly speculative in nature, involve a high degree of risk and can rapidly and significantly decrease in value. It is reasonably possible for the value of cryptocurrencies to decrease to zero or near zero. This does not constitute investment advice.

© Copyright 2023 Juno by CapitalJ, Inc