**What is the interest rate?**

Enzo has raised the interest rate on the Enzo Deposit Account to 2.87% APY, effective 9/21/22. The Enzo interest rate will be calculated according to the below formula. That means the interest you receive will increase as the Federal Reserve continues to raise rates.

**Is there a cap on how much money can earn interest?**

No, you can earn interest on as much money as you wish to store in the Enzo Deposit Account.

**Enzo**

**Interest Rate formula:**

The interest rate is determined by taking the upper bound of the federal funds rate target range as established by the Federal Open Market Committee of the Federal Reserve, subtracting one-tenth (.1) of a percentage point from the applicable rate given as a percent, and then multiplying the result by 0.9.

**When will my interest be paid?**

Learn more about how your interest is calculated and when it is paid to your account.

For full terms, please see your Deposit Account Agreement.