A bank account can either receive a flat or a tiered interest rate. Flinq supports both methods. Read on about the differences and how to configure these in Flinq.

The entire balance receives the same interest rate, regardless of size.

For a flat rate you will only need to set up one tier within an interest profile period. This will use the default lower limit of 0. As long as you don't set up an additional tier, the same rate will apply to all balances.

When the account receives a tiered rate, the rate fluctuates depending on the balance. The bank will publish balance tiers with a corresponding rate. For each day, the bank will assess into which tier the balance falls and what rate it will receive.

For example:

For a tiered rate, you will set up up multiple tiers within an interest profile period. For each tier you only need to set the lower limit. The upper limit will automatically be calculated based on the next lower limit. Therefore, automatically, the top tier will have no upper limit.