Interest

Column may offer you interest on deposits held in accounts on your platform. We consider this "Column to Platform" interest. You may also choose to pay interest to your end users for funds held in these accounts. We call this "Platform to User" interest.

Column will set up all interest configurations for interest owed to you, "the platform". To set up interest owed to your end users, our APIs allow you to set flexible interest configurations with various accrual methods and interest rates (including fixed rates, floating rates and tier-based rates).

Using the configurations Column and you create, Column will automatically calculate and pay out interest owed to you and your end users. While our interest system may be used for any interest-bearing product, today we only support interest accrual and payouts on bank accounts. For bank accounts, our system will:

Accrue interest daily for each interest-bearing account
Pay out interest monthly for each interest-bearing account
Generate daily interest reports for each interest-bearing account, including interest accruals, payouts, and forfeits

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