# Interest and referral bonus

Increase’s bank partner may pay interest on your deposits and your customers’ deposits. The bank may also pay you a bonus for referring depositors to the bank. The calculation and rates will be specified in your agreement with the bank.

Interest and bonus amounts are accrued daily based on the current balance of the account at midnight UTC. You can determine an account's current balance at any time using the [Balance API](/documentation/api/accounts#retrieve-an-account-balance).

Payments are made on the first of each month for interest and bonus amounts that accrue during the preceding month. For example, on February 1st, you’ll receive a payment based on balances for the 31 days of January.

# Using the API

In the API, these payments are [Transactions](/documentation/api/transactions#transaction-object) with the `category` of `interest_payment` or `account_revenue_payment`. You can read more about what specific fields are available in the [API reference](/documentation/api/transactions#transaction-object.source.interest_payment).

When a payment is posted, you’ll receive an [Event](/documentation/api/events#event-object.category.transaction.created) webhook with the type `transaction.created`.

[This simulation](/documentation/api/accounts#sandbox-create-an-interest-payment) allows you to generate a payment in Sandbox. Besides this simulation, interest and bonus are not created in Sandbox.

## Configuration

To help with accounting, you’ll receive a monthly payment per account. We recommend leveraging [as many accounts](/documentation/accounts-and-account-numbers#accounts) as you need to best organize your use case.

You can configure one of two payment schemes.

- Receive each Account’s payment to that Account.
- Receive each Account’s payment to one designated income account.

Most platforms opt to receive the payments into one income account.