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Post Office Account.
omeyas
Posts: 27 Forumite
Looking to invest some money here, it seems to get good press here, what are the advantages, disadvantages of monthly or annual interest? I hope to leave it there for a while, but if I opt for annual interest and take all the money out after 6 months, presumibly I get a pro rata amount of interest paid. Is that correct?
Many thanks.
Many thanks.
0
Comments
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I hope to leave it there for a while, but if I opt for annual interest and take all the money out after 6 months, presumibly I get a pro rata amount of interest paid. Is that correct?
Yes, that is correct.
If the AER is the same for both monthly and annual interest, then there is no difference to the amount that you will receive, whichever you choose.
(The exception is if you are close to different tax band either this year or next.)0 -
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