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MSE: Top current account savings interest
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bellybuttonfluffman
Posts: 47 Forumite
The following page on MSE site lists interest amounts on various bank accounts and I would be interested in knowing how the 'Max interest/yr' value has been arrived at as it doesn't match my calculations.
http://www.moneysavingexpert.com/savings/savings-loophole#monthcatch
Taking Santander 123 for example, 3% of £20K is £600, less basic rate tax makes £480, after fee (£24/yr) = £456, but the table shows £450.
Can someone please explain why the difference?
Thank you.
http://www.moneysavingexpert.com/savings/savings-loophole#monthcatch
Taking Santander 123 for example, 3% of £20K is £600, less basic rate tax makes £480, after fee (£24/yr) = £456, but the table shows £450.
Can someone please explain why the difference?
Thank you.
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