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What's the OVO Interest Reward?

OVO Interest Reward is when we pay you interest on your credit balances.

Our OVO Interest Rewards* are just our way of thanking you for your loyalty. And for keeping your account in credit too. You'll start with a 3% reward in your first year, before we increase it to 4% in year two, and 5% the following year. Essentially, the longer you stay with us, the more we'll say thanks. 

So that's:

  • 3% in your first year with us.
  • 4% in your second year. 
  • And 5% in your third year, and 5% every year after. 

How do we work it out? 

If you're in credit when we generate your statement, we'll work out your OVO Interest Reward based on the credit balance bought forward from that statement. You'll then see it on your next statement. 

Oh, and don't worry. Although we give you interest when you're in credit, we'll never charge you interest when you're in debt. 

*3% OVO Interest Reward (rising to 5% in year 3) is available only to customers paying in advance by Direct Debit, and is payable on balances up to the maximum credit balance for the Interest Reward specified in our Energy Charges list (currently £1,000). Terms and conditions apply.

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