How are interest accrued and paid on a savings account?

Interest is accrued at the tariff effective on the interest accrual date. The interest period begins on the day following the account opening, and payment is made monthly on the account opening date. The amount of interest is added to the account balance, i.e. capitalized.

For example, if you opened the account on the 15th, the interest period will run from the 16th of the current month to the 15th of the following month.