We compute interest for each $10 bond individually, based on an industry-standard 360-day period, at 5% per.
Because of this, each individual bond only earns a fraction of a cent each day. Because we cannot award or display interest below 1¢, it takes 4 days until the first accrued interest reaches half a cent, so we can round it up to 1¢ and credit it to your account.
Regardless of how many bonds you have purchased, it will still take 4 days for interest to first accrue 1¢, times the number of bonds you own. So your interest will go from 0 to (number of bonds held, times 1¢) on the fourth day.
For the second cent of accrued interest per bond, it will take a little longer (7 days) for it to exceed 1.5¢, so we can round it up to 2¢. Until then, interest still accrues daily, but we round it down to 1¢, to follow industry-standard accounting practices.
As you continue to purchase bonds at different intervals, these interest periods might overlap, so it will look like interest is accrued daily, in different amounts.
This all begins as soon as your purchase transaction clears, after the money is transfer ed from your bank account, through the payment processor, to our bank, once you initiated a purchase. As soon as your transaction clears, you "own" the bonds and interest begins to accumulate, which you will see on your dashboard after 4 days for the first time.