Regular Saver V Fixed Rate Bond

mrseyes

I would be grateful if someone can workout how much interset would i get at the end of the year between:

Regular Saver Cash ISA Maximum £300pm
7.00% fixed Interest rates (AERs)


Year Fixed Rate Bond Maximum £ 3600 at 3.75% Interest at Maturity

Many Thanks

withnell

What rate can you get on an instant access account you hold? That will affect the overall interest calculation, for holding money yet to be transfered to the Reg Saver

Mikeyorks

Can't calculate that without knowing the interest rate of the account you keep the £3600 in and which you use to feed the monthly ISA? As it's the combined interest from the feeder account + the ISA .... that you compare against that from putting the £3600 directly into the fixed term account.

ctdctd

mrseyes wrote: »

I would be grateful if someone can workout how much interset would i get at the end of the year between:

Regular Saver Cash ISA Maximum £300pm
7.00% fixed Interest rates (AERs)


Year Fixed Rate Bond Maximum £ 3600 at 3.75% Interest at Maturity

Many Thanks

Rough idea - assuming the money for the regular saver is getting 2% when not in the regular saver.

Regular saver
(3600 x 0.07 x 0.8 x 6.5/12) + (3600 x 0.02 x 0.8 x 5.5/12) = £135.60
Bond
(3600 x 0.0375 x 0.8) = £108.00

HTH

Mikeyorks

ctdctd wrote: »

Rough idea - assuming the money for the regular saver is getting 2% when not in the regular saver.

On the same assumption ....... it's around £163 for the RS and £108 for the term deposit.

...... as the 7% Reg Saver is an ISA and therefore taking the 20% tax off isn't relevant. And - yes - I hadn't realised there are any 7% ISAs about. To my amazement - there are a couple of RS's paying 7% (fixed) at the moment

flossy_splodge

Mikeyorks wrote: »

yes - I hadn't realised there are any 7% ISAs about. To my amazement - there are a couple of RS's paying 7% (fixed) at the moment

Care to share?:T (being lazy, saves me doing the searching -xx

ctdctd

Mikeyorks wrote: »

On the same assumption ....... it's around £163 for the RS and £108 for the term deposit.

...... as the 7% Reg Saver is an ISA and therefore taking the 20% tax off isn't relevant.

Whoops - didn't spot the RS was an ISA - must read the posts properly!

Mikeyorks

flossy_splodge wrote: »

Care to share?:T (being lazy, saves me doing the searching -xx

Signing off - so trust the memory serves : 1) Saffron Waldon BS and 2) First Direct .................. I hope!

EDIT ...... fairly accurate except the latter apparently needs their current account also? Co-incidentally included in the weekly Email by Martin.