This article provides information about Holvi's Interest Accounts, available to eligible Holvi Business plan customers.
What are Interest Accounts?
Holvi Business plan customers can create a Business Account and an Interest Account (interest-bearing). These accounts allow you to earn interest on your funds.
Am I eligible for an Interest Account?
To be eligible for an Interest Account and to earn interest, you must meet the following criteria:
- Your company must be domiciled in Finland.
- Your company form must be OY (Osakeyhtiö).
- You must be on the Holvi Business pricing plan.
How many Interest Accounts can I have?
You can have a maximum of 5 payment accounts, including Interest Accounts, active at any given time. Suspended or inbound-only accounts count towards this limit, but closed accounts don't.
Can I link a card to my Interest Account?
No, cards cannot be linked to Interest Accounts.
What payment actions are supported with Interest Accounts?
All other standard payment actions are supported, including bank transfers, international payments, and invoice payments.
How is the interest rate determined, and where can I see it?
The interest rate will be displayed in the Holvi application. Please note that the interest rate may be updated as market conditions change. As of May 2025, the starting rate is 1% annually.
How is interest calculated?
Interest is calculated daily based on the minimum balance for each day. The calculation method used is ACT/360.
When is interest paid into my account?
Interest is paid monthly at the beginning of each month into each Interest Account separately.
What happens if my Interest Account is suspended or inbound-only?
If your Interest Account is suspended or inbound-only, no interest will be accrued for those specific days. For example, if your account is suspended from May 6th to May 9th, you won't earn interest for those four days. Note that if a customer breaches our terms and their accounts reflect that, then they may get no interest payment for the past month.
What happens to my interest if I close an Interest Account?
When an Interest Account is closed:
- No interest is paid for the current month.
- Any interest accrued during that month is cancelled.
Customers are notified of this, and it's also included in the terms and conditions.
What happens if I downgrade from the Holvi Business plan?
If you downgrade from the Holvi Business plan:
- Your interest rate will be set to 0%.
- Any accrued interest will be cancelled.
- Your Interest Account will remain open.
Where can I see my accrued interest and get receipts?
Your accrued interest will be visible in the UI of your Interest Account. A monthly interest receipt in PDF format will be attached to the monthly interest payment for your accounting purposes. Interest details may also appear in your statements, payout transaction details, and as attached receipts.
Are there any fees for Interest Accounts?
No, there are no fees for Interest Accounts themselves however the subscription plan you are on and other features such as initiating an international payment from your account will incur fees. See fee schedules.