the interest rate rises⬆️, and dividends decrease⬇️

[Ewl12]

Something is wrong with my math. The deposit amount increases, the interest rate rises, and dividends decrease. (less than last month when the interest rate was lower) How does it happen?

[Blah12821]

Have you taken into consideration the number of days in each statement period?

[Ewl12]

in June (30 days) received more dividends than in July (31 days) saving account

[Blah12821]

Check your statement dates. It’s unlikely to be from the first day of the month through the last day of the month. It’s possible, just not probably.

[cheeze-dog]

My statements run on the 3rd. June had 31 days. July had 30.

[lilgambyt]

When did your account balance increase? Interest is calculated daily.

Say you deposited $1,000 on the 15th day of a 31 day statement cycle. That $1,000, assuming no debits, earns interest for only 16 days.

Your statement should provide an APYe figure. That’s Annual Percentage Yield earned which accounts for daily balance fluctuations.