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santander 3% plus 2.5%?
jamoo
Posts: 6 Forumite
Hi guys,
does this 3% santander savings account with a 2.5% 1st year bonus mean i get 5.5% on my savings first year? Also, if i were to put 85k in- would i be taxed on my savings or interest? Thanks for your help, i know little about savings, etc.
James.
does this 3% santander savings account with a 2.5% 1st year bonus mean i get 5.5% on my savings first year? Also, if i were to put 85k in- would i be taxed on my savings or interest? Thanks for your help, i know little about savings, etc.
James.
0
Comments
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The 2.5% bonus is included in the 3%, so you will get 3% (0.5% plus 2.5% bonu).
And yes you will be taxed on the interest, if you are a non tax payer then you can fill in an R85 form and the interest will not be taxed.0 -
I think if there was 5.5% interest and instant access available on savings then everyone would jump at it! :eek:0
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NS&I may be offering Index linked certificates soon. You might be able to tuck away 30k with a decent interest tate, tax free, if inflation stays high.0
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