Santander or Coventry ISA

page1

Can't make mind up whether to put £15000, in Santander 123 with 3% interest or Coventry BS ISA with 2.5% (i am existing costumer with both)

I know standander £2 monthly fee, plus 2 DD, plus £500 dep every month

Cannot do the maths.

How much interest would i get every month after basic rate tax deducted.

Any advices would be appreciated

Vortigern

Simple answer: 3% x 0.8(tax) = 2.4%
...so 2.5% from Coventry gives more than 2.4% from Santander

How much interest?
£15000 x 2.96/100 x 30/365 x 0.8 = £29.19 in a 30 day month after basic rate tax.

G_M

Vortigern wrote: »

Simple answer: 3% x 0.8(tax) = 2.4%
...so 2.5% from Coventry gives more than 2.4% from Santander

How much interest?
£15000 x 2.96/100 x 30/365 x 0.8 = £29.19 in a 30 day month after basic rate tax.

assumes OP is a basic rate tax payer, and ignores the £2 monthly fee, Also ignores the potential DD bonus.

jimjames

Have you already filled the 5% accounts?

Vortigern

G_M wrote: »

assumes OP is a basic rate tax payer, and ignores the £2 monthly fee, Also ignores the potential DD bonus.

Assumes nothing. Basic rate taxpayer was given. The question was:

page1 wrote: »

How much interest would i get every month after basic rate tax deducted?

However I have ignored the effect of fluctuating daily balances.