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Question about kids savings account
soba
Posts: 2,191 Forumite
Been looking for a savings account for the kids and came across this from The Cheshire and also The Derbyshire
http://www.thecheshire.co.uk/investment-saving-account/childrens-savings/childrens-savings-bond.asp
I don't understand the 'Interest All at Maturity' figures of 21.55% gross, 17.24 net. I know it's the AER of 5% that's used for comparisons, I've just never seen figures presented like this.
http://www.thecheshire.co.uk/investment-saving-account/childrens-savings/childrens-savings-bond.asp
I don't understand the 'Interest All at Maturity' figures of 21.55% gross, 17.24 net. I know it's the AER of 5% that's used for comparisons, I've just never seen figures presented like this.
0
Comments
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When the account matures, you'll be paid 21.55% gross of whatever's in the account.
This is an unusual way of presenting it - presumably just to make it look as though it's more.
Use the AER instead for comparisons.0
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