If you're a Pro user, you can activate the hybrid mode offering an attractive 4% APY in EUR, with an additional 2% in RND, resulting in a total APY of 6%.*
How does the 2% APY in RND work?
This APY generates a yield of 2% in Euros on the capital you invest in your Earn account. Every 30 days, this yield is converted to RND using the current exchange rate. The generated RND is simultaneously credited to your wallet for you to use in Rand Pro, sell it for EUR, or keep it as an investment. Then the process restarts for the next cycle.
It's important to note that if you decide to withdraw your money before the capitalization period is completed (30 days), you'll lose the benefits in RND that have not yet been capitalized. However, you'll receive the benefits generated up to that moment in euros, corresponding to the 4% APY.
It's crucial to highlight that as the yield is generated in Euros and then converted to RND, in the image below, you'll see an estimation of the yield valued in RND, considering the current exchange rate. However, the amount in RND in progress may vary over days, but the equivalent value in EUR will remain constant.
*This is a promotion valid until 02/29/2024. After this date, the 2% will revert to 1.5%, resulting in a total of 5.5% APY. Don't worry! By that time, we'll have new products available that will further enhance your savings.