How much Interest would I get.

Jonno118

How much interest would you get per year from £100,000? taken into account todays best interest rates and tax deduction of course.

thanks for help.

dandelionclock30

Can you honestly not work it out for yourself, if an account was paying 2.5% or 3% interest? Thats really bad as a junior school child could work that out.

Timay

Jonno118 wrote: »

How much interest would you get per year from £100,000? taken into account todays best interest rates and tax deduction of course.

thanks for help.

Easier enough to work out.


You could get around £2200-2500. That just going of a quick search of some saving accounts. Depending on how you came about the £100000 could be a nice little bonus to your yearly earnings if it all came from inheritance or if you have personally saved that amount it barely seems worth it.

Better off buying something at can appreciate in value or provide and income while maintaining its value, rather than putting it in a savings account. Easier said than done though!

JohnRo

the calculation could be a bit more complex though if you are using your cash ISA allowance each year and taking advantage of savings accounts and offers from the likes of FD and Halifax.

YorkshireBoy

Jonno118 wrote: »

How much interest would you get per year from £100,000? taken into account todays best interest rates and tax deduction of course.

Would you like some help (in the form of a little maths) to understand how it's calculated...so you can be better placed to check your interest is correct when it's paid? Or would you prefer just a number, ie £1,840, and call it a do at that?

Serious question.