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Interest - is this right?
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alibeano
Posts: 21 Forumite
I have accounts with A&L
- Premier Direct Current Account
- Easy ISA
While I know these may not be the best accounts around, here is my query;
Each month I transfer money from my current account to my ISA. The idea is to save money and generate some interest to put towards my 0% credit card balance.
The current account pays 8.50% AER gross and 6.55% net on balances less than £2,500
The ISA pays 6.0% gross.
Should I just leave my money in my current account?
Thanks....
- Premier Direct Current Account
- Easy ISA
While I know these may not be the best accounts around, here is my query;
Each month I transfer money from my current account to my ISA. The idea is to save money and generate some interest to put towards my 0% credit card balance.
The current account pays 8.50% AER gross and 6.55% net on balances less than £2,500
The ISA pays 6.0% gross.
Should I just leave my money in my current account?
Thanks....
0
Comments
-
think i've answered my own question;
CA pays 8.5% gross for first year then 1% below BoE base rate.
In that case I'm better off with ISA.0
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