Just for fun - whats your average interest rate across savings?

rb10

100saving wrote: »

From looking at the spreadsheet how would you get it to work out the amount after tax? also for example the account 3 with 300 does not work out right as it is a fixed amount going in each month (£300), the end interest is £93 not the £172 this works it out as so not giving a true reflection on what the end worth.

If you want the net (i.e. after tax) amount, then just put the net rate into column C. For ISA's this'll be the same as the gross rate. For everything else it'll be 80% of the gross rate (although if you're a higher rate taxpayer there'll be extra tax due).

There's no difference in the calculation for regular savers and that shown in the spreadsheet is correct. The calculation shows your average interest rate today, so you take today's balance and today's interest rate.

Biggles

Archi_Bald wrote: »

sorry if this is a silly Q - what is snoozing in the context of money?

I think he means 'stoozing'. Unless 'snoozing' is doing it while he's asleep.

plunt

I am currently at 5.62% pre tax and 4.63% after tax.

Promised of

3 X NW Flexdirect 5%
3 X Lloyds Vantage 4%
2 X Reg Savers 6%
1 x Reg Saver 5%
1 x Instant Access ISA 2.5%
1 x Instant Access ISA 3.5%
1 x Halifax rewards £5pm
2 x Student accounts with interest free overdrafts

Points to note,

1) 3.5% isa expires in a couple months
2) 1 x 6% reg saver expires tomorrow (got this post in before that!)
3) 1 x Student over draft expires in <1 month
4) 1 x student over draft lowers in 6 months or so
5) average rate does not include p2p lending, stocks, funds, dividends etc. Purely interest from Banks.
6) ALL holdings (except reg savers) are instant access
7) utilize spreadbetting to invest on margin to fill all my high interest accounts.




P

veryintrigued

plunt wrote: »

I am currently at 5.41% pre tax and 4.47% after tax.

Promised of

3 X NW Flexdirect 5%
3 X Lloyds Vantage 4%
2 X Reg Savers 6%
1 x Reg Saver 5%
1 x Instant Access ISA 2.5%
1 x Instant Access ISA 3.5%
1 x Halifax rewards £5pm
2 x Student accounts with interest free overdrafts

Points to note,

1) 3.5% isa expires in a couple months
2) 1 x 6% reg saver expires tomorrow (got this post in before that!)
3) 1 x Student over draft expires in <1 month
4) 1 x student over draft lowers in 6 months or so
5) average rate does not include p2p lending, stocks, funds, dividends etc. Purely interest from Banks.
6) ALL holdings (except reg savers) are instant access
7) utilize spreadbetting to invest on margin to fill all my high interest accounts.

P

Superb effort! Shame about tomorrow though - boo hiss!!

Gaffy

This thread is meaningless without knowing the amounts invested.

For example, if you had just £300 in the world then you could get 6%, on the other hand if you had £200K spread across the best paying accounts then currently the return is about 2.3% gross.

Or you could just buy High Yield shares and get 5%+.

Personally, I'm 100% in cash getting 2.86% whilst waiting for the stock market to go lower before I start investing again.

veryintrigued

Gaffy wrote: »

This thread is meaningless without knowing the amounts invested.

For example, if you had just £300 in the world then you could get 6%, on the other hand if you had £200K spread across the best paying accounts then currently the return is about 2.3% gross.

Or you could just buy High Yield shares and get 5%+.

Personally, I'm 100% in cash getting 2.86% whilst waiting for the stock market to go lower before I start investing again.

On what?

aspiration_2

[QUOTE=SnowMan;

Newcastle
...........................................
..........................................
Nat West e saver - 2.85%

[/QUOTE]

Hi SnowMan, can you please confirm that it is still possible to get 2.85% on this NatWest account? I thought it dropped below 2% sometime ago.

Gaffy

veryintrigued wrote: »

On what?

Exactly, no one is willing to reveal the amounts, including myself.

plunt

aspiration wrote: »

Hi SnowMan, can you please confirm that it is still possible to get 2.85% on this NatWest account? I thought it dropped below 2% sometime ago.

Think the account dropped its rate in November 2012. meaning those who got in early enough (but just before cutoff) will still be getting this rate till Nov 2013

Gaffy wrote: »

Exactly, no one is willing to reveal the amounts, including myself.

Most accounts with high rates are capped on the amount, so you can figure out roughly the minimum amount people are getting... and everything else will no doubt be dragging their average down in instant acess account (or what i would call my overflow account)

veryintrigued

Gaffy wrote: »

Exactly, no one is willing to reveal the amounts, including myself.

Absolutely Gaffy - totally agree

I think the people who have listed their accounts (me included) are 'sort of saying' its not £300 or so though - but you're dead right people are loathed to reveal their full monies.

Anyway have a nice week-end all!