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OVO Interest Reward

OVO Interest Reward is a 3% reward that we offer our Direct Debit customers when they have credit balances. It's our way of giving back the interest we earn when your account with us is in credit.

The Reward is only available to customers who pay in advance by Direct Debit. As long as you're in credit, we'll work out your OVO Interest Reward every month and add it to your OVO Energy statements.


The OVO Interest Reward in figures

The Interest Reward is calculated at 3% per year, paid monthly, based on the number of days your account is in credit and the amount left in your account after you've paid your bill. Each month, we'll credit you with your 3% Ovo Interest Reward for the number of days between your statements. Divide the number of days between statements by 365, then multiply that by three to see what percentage you'll get each time.

The amount is capped at 12 times your current Direct Debit amount. If you'd like to know what your maximum amount is, just email us through your My OVO account.


Here's some more good news

First, although we pay you the OVO Interest Reward when you're in credit, we don't charge you interest when you've got a debit balance. Secondly, you don't have to pay any tax on the money we pay you, because it's actually a prepayment discount for the energy you'll use in the future.

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