Two Year Fixed Rate Cash ISA

veryintrigued

aspiration wrote: »

I am sure the OP can work out the maths just like you and me.

I guess unless the OP comes back we'll not know if they could. I'd assumed that as they asked this specific question, and hadnt given a 'is it around £xx', I felt pretty confident they didn't know.

Just the same as a similar thread (in ISA section) which asked almost the identical question last week.

C'mon Original Posters - at least have a go (we always used to get a couple of marks for the correct units!!) ;-)

PS as an aside I opened up the thread as I hoped someone had uncovered a super, duper rate for a 2 year fixed rate ISA!

talexuser

bugbyte wrote: »

Sorry to be pedantic but as you gave slightly misleading information in your first post.

Not at all, the question was not what amount of money will I get back, the question was clearly how do I work out the penalty.

future-sailor

Thanks all for replies - I have an A-level in Maths and a Masters degree thus I can certainly do maths!!!! I calculated it as roughly £100 and was seekinh reassurance. Didnt realise that I've already accumulated interest and will be fined a smaller amount. Thanks!

ffacoffipawb

future-sailor wrote: »

Thanks all for replies - I have an A-level in Maths and a Masters degree thus I can certainly do maths!!!! I calculated it as roughly £100 and was seekinh reassurance. Didnt realise that I've already accumulated interest and will be fined a smaller amount. Thanks!

Not very bright for someone with a masters degree to refer to this as a 'fine'. It is not a 'fine', it's an early exit penalty if anything.

enthusiasticsaver

You should get back around £10,950 as the penalty will be as others have said 6 months interest roughly at 1.7% which is slightly less than £100 but as you have had it invested since July that will be partially offset by the three months interest you have earned since then. You would have done better to put it into a Santander 123 account even allowing for the fact that it is not tax free and that way there would have been no penalty.