Savings plans

Hi, I’m Nora, Pinnora’s animated guide.

In this video, we’ll open Savings and look at the four kinds of plan: flexible,

fixed, floating and mixed.

Then we’ll save some money, follow the interest,

and see how to take it out again.

Start on Home, and tap the + button in the middle of the tab bar.

In Quick actions, tap “Savings & investments”.

Then tap “Savings”. Investment plans, just below it,

have their own video.

At the top is your total saved,

and the blended rate it earns, as a yearly figure: the APY.

Below that: the interest earned so far,

and a year’s projection at today’s rates.

Under “Your savings”, Alex already has $300 in Flexible USD.

Scroll down to the plans. Each card shows the yearly rate, the term,

how often it pays and the minimum.

Flexible plans have no fixed term.

You can take your money out whenever you like.

A plan marked “Floating rate” is flexible too,

but its rate can change, and you’re told if it does.

Fixed plans, like BTC 30-day and USDC 90-day,

run for a set term.

A Mixed plan splits one deposit into a flexible part and a fixed part.

Tap it, and choose the split: 25%,

50% or 75% in the fixed part.

The flexible part is at 4% a year and can come out any time.

The fixed part is at 7% a year, for 90 days.

Every plan has rules you can read before you save.

Tap USDC 90-day, and open “Rules and terms of this plan”.

Its term is 90 days. Straight after the last payout,

your money goes back to your funding wallet by itself.

The rules also say if you can leave early,

and if there’s a wait or a penalty. Here: any time, no wait, no penalty.

Close the sheet when you’ve read them.

Now, let’s save. Alex taps Flexible USD.

Type the amount: Alex saves $150.

The percentage buttons and Max work too.

“Paid from” shows where the money comes from: here,

Alex’s dollar balance.

Next, scroll down and open “Rules and terms of this plan”.

They show the interest rate, when it’s paid,

the term and how redeeming works.

Scroll on for any early-redeem penalty,

and what happens if the plan changes.

When you’ve read them, tick the box to accept. “Save” turns on: tap it.

Now you see a review. Nothing is saved until you confirm.

Estimated earnings show each payout,

and what a year would add at this rate: about $6 on $150.

Check the details, including where your interest goes.

Then tap “Confirm savings”.

Done! Your savings have started, with the rate,

the first payout date and a reference.

Tap “Done”. Your total saved is now $450,

across two positions.

Each position has its own card, with its balance,

the interest paid so far and the next payout.

“Add funds” saves more in the same plan,

and “Redeem” takes money out.

Further down, History lists every savings position you’ve opened.

Tap “Interest payouts” to see each payment and where it went.

Alex’s first comes a day after saving.

To take money out, tap “Redeem” on a position.

Alex chooses the $300.

First, you see what redeeming now would mean.

Earning stops straight away; a part-finished day isn’t paid.

You also see any penalty, what you’ll receive and when it’s released. Here:

no penalty, straight to your funding wallet.

Nothing happens until you tap “Redeem”.

Alex taps “Keep saving”, so nothing changes.

A few things to know. They’re also under “How this works”,

at the bottom of the Savings page.

Interest is paid on each plan’s schedule into your funding wallet. Or,

where the plan allows it, you can add it to your savings.

Most savings keep the rate they opened at.

A floating rate can change for money already saved, and you’re told.

A fixed plan pays you back by itself,

straight after its last payout.

If a plan has a wait or a penalty for leaving early,

you’ll see it in its rules, and again before you confirm.

Let’s recap.

Open Savings from the + button,

under “Savings & investments”.

Choose a flexible, fixed, floating or mixed plan.

Type the amount, then read and accept the rules.

Review it, and tap “Confirm savings”.

Follow your positions and interest payouts on the Savings page.

And to take money out, tap “Redeem”,

and read the quote before you confirm.

Need help? Chat with us in the app or e-mail helpdesk@mypinnora.com.

See you next time!