ISAs

BusPass_2

Can someone do the calculation for me?

What is the AER if you are saving £300 per month at 7% fixed for a year taking into account it takes the full 12 months to get up to the ISA limit of £3,600?

Is it still greater than taking, say, a 3% fixed (if I can get one) for the whole £3,600 on 6th April?

I am not taking into account any interest I would gain from an account feeding the ISA at this stage in my calculation.

Thanks

sloughflint

Overall, you would end up receiving the same interest as if you had deposited £3600 in a 3.79% paying ISA for a year.

BusPass_2

Thanks.

Exactly the information I asked for.

This site has proved useful again.