Co-operative Bonus Account

max2002ad

With the co-operative bonus account you get a bonus of £1 each year up until the child is 10 if the account has more than £50 in the account.
When it first launched people on the forum worked out the interest to be 8% including the bonus. Now the interest is 0.50% before the bonus what is the overall interest rate after the bonus??

for example i have £52.40 in the account at present
after a year i expect it to be £53.40 approx

premierfella

£2 bonus p.a. up to age 12.

http://www.co-operativebank.co.uk/servlet/Satellite/1193206374764,CFSweb/Page/Bank-Savings

Which I assume means 4.32% p.a. on £52.40 including standard interest.

max2002ad

Thanks for the help!!
I will keep faith as it works out a lot better especially in the low interest rate environment