That is not accurate. The savings option does not give interest. It is just a way of locking up your funds. In case your account gets hacked you have 3 days to recover your account and reverse any withdrawals before it's irreversible.
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Exactly the reason why I think Steem Power should be renamed as Savings Account (treat curation rewards as interest, although it may not reflect the value in which the user depend on like national currencies, or if STEEM does well, will turn out to be better).
are you sure? i know it was not an option that existed at the beginning, but the option discusses APR% rates, so it looks like they are building it in.
"SAVINGS
Balance subject to 3 day withdraw waiting period, STEEM Dollars currently collecting 0% APR."
That it states "currently collecting 0% APR" implies that these values could be changed to be >0 and thus the function for compound interest is built into the system, yet seemingly not activated. Obviously Dan or Ned would need to clarify.
SBD collects interest regardless if you hold it in the savings or not (as long as the witnesses have set the parameters of the blockchain to do so). The statement "currently collecting 0% APR" is just informing that currently SBD do not accrue interest.
I agree that the wording is confusing.
BTW Dan is no longer part of Steemit Inc. He resigned his position as CTO several weeks ago.
I knew he had resigned, but I figured if anyone would know it would be Dan or Ned.
https://steemit.com/steemit/@lukestokes/do-you-know-your-steem-power-interest-rate
Please read that post with caution, it's a very old one and was written while I was still figuring things out.
The APR % on SBD is currently set to 0. This is a setting the witnesses control. If SBD goes below $1, that number will go up. Right now SBD is well above $1 in value.
I pointed out the 0% in the previous post! Again, this was to illustrate that the function is present.