What interest rate is paid on current account balances?

Robert
Robert
  • Updated

As of the 15th of October Kroo moved to a "Tracker" rate, which means that Kroo will pay interest at 0.9% below the Bank of England base rate. Kroo will update its interest rate no later than 2 working days after a change in the Bank of England base rate.

Keep in mind that:

  • Interest is applied on your current account balance up to £500,000.
  • Interest is calculated daily.
  • Interest will be paid monthly on the 1st of every month.
  • We'll send you an in-app notification notifying you of interest payments.

You can use our interest calculator to check how much you could earn with us.

You can view the interest rate directly in the Kroo app:

  1. Open your app.
  2. Tap the ‘Home’ tab on the bottom.
  3. You’ll see the current interest rate under your account balance.

You can also see your interest in your bank statements in-app:

  1. Open your app.
  2. Tap the ‘Account’ tab on the bottom right.
  3. Scroll to ‘Statements’ and tap ‘View statement history.’ Then you can either download or share your bank statement.

Previous Rates 

Dates Available Annual Equivalent Rate (AER) Gross (variable)
01/12/2022 - 31/01/2023 2.00% 1.98% Gross (variable) 
01/02/2023 - 31/03/2023 3.03% 2.99% Gross (variable) 
01/04/2023 - 31/05/2023 3.33% 3.28% Gross (variable) 
01/06/2023 - 30/06/2023 3.60% 3.54% Gross (variable) 
01/07/2023 - 31/07/2023 4.10%  4.03% Gross (variable) 
01/08/2023 - 14/10/2023 4.35% 4.27% Gross (variable)

 

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