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Aer / Gross ?
batleyboy_2
Posts: 21 Forumite
Want to open a new easy access account which i will be paying in to as well as withdrawing from. Done the comparison sites but am i best going for the one which states the best gross or best AER rate, for example IF states 6.4% gross and AER whilst Birm Mid states 6.52% AER 6.33% gross, which is best to go for ?
0
Comments
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AER is annual equaivlent.
The Birm one pays interest monthly, so with compound interest it ups the final rate to 6.52% if you leave interest in the account. If you take the interest out it will stay at 6.33%.0
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