egg money intrest????

felix65

if i pay 4,000 onto my egg money card and keep it there for a month will i get intrest and if so how much?

Rafter

I believe egg money pays 4%AER gross. So in a month after tax if your £4k is there for the full month you will get about £10.50.

Remember that any spend you put on your egg money card will reduce the £4000 and therefore reduce the amount of interest paid.

R.

grumbler

... about £4000*4%/12=£13 gross £10 net

jonesMUFCforever

This will only work well if you don't spend any of it.
Otherwise AFAICS you just use your own money and the interest decreases with every spend on the card.
IMO keep your savings in the best paying account you can find and pay Egg bill in full every month.