Is the interest paid a monthly interest of 10% or annual, but paid monthly ?
The (current) 10% rate is annual but paid every 30 days, so your savings will increase by (savings_hbd_balance * APR) /12 every 30 days.
Be aware that you have to "manually" claim your interests by having your savings balance changed.
Do we need to stake the interest again ? or its compounded automatically in savings ?
They automatically go to your savings
if compounded, then does the calculation takes care of using the compounded amount for the next interest ?
Yes, they do.
Should be a safe heaven for investment then.