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What is Parent-Paid Interest?

Parent-Paid Interest is an annual percentage yield rate that you set for your child’s General Savings that is paid from your Parent's Wallet on the first of the month in the Greenlight App. Your Parent-Paid Interest is calculated and paid monthly based on the average daily balance of your child's “Total Savings” for the previous month.

With Parent Paid Interest you have the opportunity to set and pay an interest rate of your choice from 1-100% that grows at a much faster pace than a traditional bank account. This will show your kids how their money grows each month when they make responsible saving decisions.

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