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How does Juno calculate and disburse bonus rates?
How does Juno calculate and disburse bonus rates?
Updated over a week ago

The bonus rate is based on a blended rate that depends on the federal fund rates and the bonus rate offered by Juno. The bonus rates are variable and subject to change at any time.

Commencing February 7, 2024, total cash balances up to $250,000 earn a 5.00% yearly bonus.

How is the Bonus calculated?

Bonus is calculated daily on the "existing rate", and is given out monthly. Bonus Rate is compounded monthly. The existing rate is the bonus rate prescribed by Juno for a particular month.

For Example:
If the daily bonus is 5% APY, then the calculation is as follows:


Daily Interest = Daily Balance at EOD * (5.00 divided by 365 divided by 100)

For example: If your closing balance (end of day balance) at the end of a particular day is $25,000, the daily bonus accrued at 5.00% APY will be $3.42.

How?

25,000 * (5.00 divided by 365 divided by 100) = $3.42/day

By the end of the month, the total bonus comes out to be 30 days * $3.42 = $102.6

Bonus History

  • From September 1st, 2023, to February 6th, 2024, cash balances earned a competitive base rate of 3.00% annually on balances up to $20,000. Juno members could also access an industry-leading rate of 5.00% on the entire cash balance up to $250,000 by maintaining a daily closing balance of $20,000 or more.

  • From May 1, 2023, to August 31, 2023 cash balances greater than $50,000 and up to $250,000 earned a 4.00% yearly bonus.

  • From February 1, 2023, until April 30, 2023 cash deposits greater than $25,000 and up to $250,000 earn a 4.00% yearly bonus.

  • From January 1, 2023, to January 31, 2023 cash balances up to $25,000 earn a 5.00% yearly bonus.

  • From October 19, 2022, to December 31, 2022, both basic and metal users earn a 5.00% yearly bonus on cash balances up to $10,000 and a 3.00% yearly bonus on cash balances greater than $10,000 up to $250,000.

Note: You can now earn a 5.00% bonus on all your cash balances up to $250,000. There will be no bonus paid for deposits greater than $250,000.

Disclaimer: Juno reserves the right, in sole discretion, to change the bonus rate without cause, reason, and notice.

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