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Stocks: Interest Rates

Interest Rates

The information below does not apply to Forex accounts, and is only available for Equities Cash accounts.

All rates listed on this page are subject to change at any time, without prior notice.
Margin Interest: 7.45% APR
Margin account holders have the ability to borrow money at the margin interest rate above. Borrowing money on margin lets you leverage securities you already own to purchase additional securities. Accounts are not charged for the use of margin when borrowing money throughout the day. The margin interest rate is only charged when you borrow money to hold securities overnight. Therefore, if the market value of securities in your account exceeds your account value overnight, you are using margin.
Credit Interest: 0% APR
Clients are paid interest each month on any free cash that remains in their cash account.
Money Market Rates: see below
Free cash is swept into a separate Scudder Funds money market account at the end of each day to earn a higher interest rate. If a specific fund is not selected when opening a new cash account, the highest average yielding fund (CAT MM Portfolio) is selected automatically. To switch between the available money market funds below, simply email [email protected]

  Scudder Fund Name Code 1 Day Yield
  CAT Tax Exempt Portfolio CHSXX 0.01%
  Tax Exempt California¹ TXCXX 0.01%
  Tax Exempt New York¹ NYFXX 0.01%
  CAT MM Portfolio CSAXX 0.01%
  CAT Gov't & Agency CAGXX 0.01%
  ICT Treasury Portfolio ITRXX 0.01%
  Connecticut¹ CTCXX 0.01%
  Massachusetts¹ FMCXX 0.01%
  Ohio¹ FOHXX 0.02%
  Virginia¹ VCSXX 0.01%
  Federated Penn Muni Fund 150 PACXX 0.02%
  Federated Fla Muni Fund 815 FLSXX 0.01%
  Federated NJ Muni Fund 824 NJCXX 0.01%
  Fund 229 (formerly known as Reich & Tang) n/a 0.01%
Updated on 01/07/13

 

Margin and Credit Interest Calculations:
Interest charges and credits are calculated on the net daily debit or credit balance in your account. Interest incurred and interest earned will be posted monthly to your account and is calculated on a 360-day year.
The applicable interest period is from the first day of each month to the last. Any free credit balances will be offset against any debit in the margin account, and interest will be charged on the net debit balance, if any.

  Example
Account value: $10,000
Margin Interest rate: 7.95% APR
Transaction: $20,000 of XYZ purchased on 1/01 and sold on 1/15
  1. Take the amount of money borrowed and multiply it by the interest rate:
    10,000 * .0795 = 795
  2. Take the product and divide it by the number of days in the year:
    795 / 360 = 2.21
  3. Multiply this result by the number of days XYZ was held on margin:
    2.21 * 15 = 33.15
It would cost $33.15 to borrow $10,000 for 15 days.

1. These funds are only available to residents of the state listed in the fund name.