How much interest will this earn me please?

Rochdale_Guy

Just wondering how much interest I will earn from having £12,700 in an INGdirect savings account please from NOW until 1/1/2005.

Anyone able to calculate this please ?

I kinda need an answer ASAP - excuse my cheekiness :-/

Reaper

Good to see you heathily in the black now, Rochdale_Guy!

Shinds

This is per month - after 20% tax:

£40.56 (for a 30 day month)
£41.91 (for 31 day month)

Hope this helps.

Regards.

Rochdale_Guy

Thankyou :-*

wendandsey

Hi would anyone know how much interest I could obtain per month if I saved £34k in a high interest account for just 3 months (i.e. would I have to have this saved for a number of months first before I start earning interest????)

Thank u :-/

Unbelievable_2

Hi wendandsey

You could put your 34k into an Egg savings account - it pays 5.5% gross pa for the first 6 months. You will get approx £467 before tax. (Open the account in the name of whichever one of you pays the lowest rate of tax). You can have access to the funds when you want and they'll earn interest almost immediately.

johnllew

Hi would anyone know how much interest I could obtain per month if I saved £34k in a high interest account for just 3 months.

The current Egg Internet a/c offering 5.50%, pays interest at the end of the first 6 months, and again at the end of the next 6 months, after which it pays interest annually. If you want the interest paid after 3 months, you would have to close the account.

From the T&Cs:

3. Interest earned during the introductory period will be paid at the end of the six month introductory rate period. Interest will be paid thereafter on the anniversary of the Account being opened, and thereafter it will be paid annually. Interest will be paid into the Account unless you have previously nominated another account into which you wish us to pay your interest.

cloud_dog

I'm not trying to have a go but.......... ........

It probably takes more time for people to post "how much interest....." questions here than it does to multiply a sum of money by the interest, devide it by the number of days in the year and then multiply it by the number of days they will have the money in the acocunt for.

There, I feel beter now  ;D

cloud_dog

cloud_dog

I'm not trying to have a go here I am actually having a go.  ;)

It is probably quicker to spell "better" as "beter" than to waste time looking it up in the dictionary because you would probably be looking it up in the wrong place anyway.  ;)

Ah, no you misunderstand; this was speed typin so I didn't waste too much time on the post

Rochdale_Guy

Hi again, tis me - again !

I was just wondering how much interest I will earn from having £11,000 in an INGdirect savings account please from NOW until 10/9/2006.

Anyone able to calculate this please ?

ING pays 4.5% before tax, and I pay tax

The £11,000 is at 0.9% APR until 10/9/2006 but there was a fixed £50 transfer fee to get this cash transferred into my bank account....

I (again) kinda need an answer ASAP - excuse my cheekiness

grumbler

4.5%AER/4.41% gross p.a.

£11000*4.41%*6/12*0.8=£194

P.S. If you are a basic rate taxpayer (20% on savings interest)