Using current account for Savings

mjdavies4

Thanks for the reply yes after doing a few calculations myself it doesn't seem worth the hassle of losing my ISA allowance for a gain of only £20 over a year.

thanks

grizzly1911

pqrdef wrote: »

Which on the face of it still seems to be saying that you don't get the 3% if your balance is above £20,000. Which of course is quite wrong.

To interpret it as intended, you have to understand that when they say entire, in bold print, they don't actually mean entire.

But it's quite simple

Balance £1000-1999.99 - interest 1% on whole balance
Balance £2000-2999.99 - interest 2% on whole balance
Balance £3000+ - interest 3% on first £20,000, niothing on excess over £20,000.

Would it not be possible for banks to employ somebody who can describe their products accurately in the English language? Of course they'd have to get a contractor in, because their own staff are so used to the stream of Bankspeak coming out of head office that they can no longer say anything money-related in any other language.

That was my initial interpretation, I have to say, but having done a calculation for April, based on 30 days my gross interest comes out at 3% on the whole maximum balance. :think: