Yes you will. EasyProperties pays interest on funds that qualify, but we do NOT pay interest on unsettled funds.
How do we pay interest?
On all funds that qualify (explained below), client accounts will accrue interest during the month and will be credited with an Interest amount on the first Business Day of the following month (you will not be able to withdraw or Trade using your accrued interest until it is credited to your account). Your accrued interest is calculated at the applicable rate per annum and then debited with a Cash Management Fee.
The Net Interest paid to clients on Free Cash will be calculated as follows:
|Free cash amount||Interest rate||Cash management fee (incl. VAT)|
|R0 - R100 000||Prime - 3.5%||(1.75%)|
|R100 000 - R1 000 000||Prime - 3.5%||(1.50%)|
|R1 000 000 +||Prime - 3.5%||(1.27%)|
All client accounts will have an Interest earned accrual amount allocated daily, calculated at the applicable rate per annum, as well as a Cash Management Fee expense accrual allocated daily, as indicated in the table above. On the first Business Day of the following month, the interest accrued over the month will be credited to client accounts, and the Cash Management Fee accrued over the month will be debited from client accounts.