The Annual Growth Rate

What is the Annual Growth Rate?

It’s not exactly spoiler alert time to point out that most of us earn less than not-very-much on our current accounts and savings. Which is why HyperJar’s Annual Growth Rate (AGR) is such a stand-out feature in the app.

When you allocate money to a Hyper Jar – a Jar connected to a brand featured in the app’s Explore section – you start earning a 4.8% AGR straight away.

The AGR is a bit like the interest rate paid by banks, but we call it a growth rate because the money can’t be turned into cash. The AGR is calculated on the current balance in a Hyper Jar. As an example, if you have a balance of £300 in a Hyper Jar with an AGR of 4.8%, at the end of that day your Jar will have grown by 4p to £300.04: £300 x 4.8% = 4p
365 (days)

Money in Hyper Jars has to be spent with the merchant you’ve opened the Jar with. It’s a pleasingly an old-fashioned concept wrapped up in a high-tech environment: you commit up front to that business, and they commit to giving you a 4.8% AGR.

It’s your reward, paid daily, on money you’d already spend.

And it is this last point that captures one of our biggest ambitions for the HyperJar community: we want to wake up the thousands of pounds sleepwalking through your life, often going to the same places, and put it to work for you.

Allocate and grow

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