> For the complete documentation index, see [llms.txt](https://docs.eiva.money/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.eiva.money/interest-and-repayment.md). # Interest and repayment Interest accrues daily at your note's annual rate on the principal, from the day your deposit clears. \[Day count convention: tax adviser] It's paid in USDC to the wallet you deposited from: * Open: at the end of each 30 day period * 6 and 12 months: at the end of each calendar month, pro rated for your first partial month Worked example: 50,000 USDC in the 12 month vault at 15% pays 625 USDC at the end of each full month and returns 50,000 USDC at the end of month 12. Interest is paid gross: tax is the noteholder's own responsibility, wherever they live. \[Confirm no UK withholding applies: tax adviser] Autocompounding is optional on every note and off by default. Turn it on and each month's interest is added to your principal instead of being paid out, and earns the note's rate from then on: 15% compounds to about 16.1% effective over a year, 12% to about 12.7%, and Open's 7% to about 7.2%. Compounded interest counts as principal: it uses capacity, carries the same risk, and comes back with your principal at maturity or when you withdraw. Open rolls into a new 30 day period at the end of each one unless you withdraw. The 6 and 12 month notes return principal at maturity and don't roll. \[Payment timing, same day or within a set number of business days of the schedule date: Alpha] To get your money out before then, see [Withdrawals and redemptions](/withdrawals-and-redemptions.md). --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation by asking a question. Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters: ``` GET https://docs.eiva.money/interest-and-repayment.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.