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6% apr savings vs overpaying repayment mortgage
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Thrugelmir wrote: »On mortgage accounts the interest is compounded monthly (i.e. calculated daily and added to the account once a month). Whereas on savings accounts the interest is often only credited once a year.
Agree about when it's credited, but in terms of which would save the OP money, daily/yearly interest isn't an issue (since they're both calculated daily AND the savings rate is so much higher than the mortgage rate).0
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