Your account will be charged the $5 monthly fee every 30 days at the beginning of each billing cycle. If you use more than $1,000 of margin, you’ll pay 5% yearly interest on the amount you use above $1,000. Your interest is calculated daily and charged to your account at the end of each billing cycle.
Can I track my Gold payments in the app?
Yes, you can find all Gold fees and interest payments in your account history. You can also find information about your next Gold billing cycle in the Account Overview section of the app. The Gold Billing section includes:
- Next Billing Date: This is next date on which you will be charged for Robinhood Gold.
- Monthly Gold Fee: The monthly fee paid for Robinhood Gold. This will be automatically deducted from your account on the next gold billing date.
- Margin Used: The amount of margin you are using. Interest is calculated daily based on your margin used above $1,000.
- Yearly Interest Rate: The yearly interest rate you pay for margin used above $1,000.
- Unpaid Interest: The Robinhood Gold Interest accumulated for the current billing cycle. This amount will be automatically deducted from your account on the next gold billing date.
How is my margin interest calculated?
The first $1,000 of margin is included with your $5 monthly fee. If you decide to borrow more, you’ll pay 5% yearly interest on any margin used above $1,000.
Your interest is calculated daily on your end of day margin used. The daily interest rate is 5% divided by 360. For example, if you use $3,000 of margin, we’ll calculate $0.28 of daily interest as follows:
- $3,000 margin used
- $1,000 included with your monthly fee, leaving $2,000 subject to interest
- $2,000 * 5% / 360 = $0.28 per day
We’ll accumulate interest every day and charge your account every 30 days at the end of your Gold billing cycle. You can always check the current status of your billing cycle and view unpaid interest in the Gold Billing section of the Account Overview.
Robinhood can increase or decrease the interest rate at its discretion and will provide 30 days advance written notice of any changes to the interest rate.