Bank interest

Eco_Miser

LXdaddy wrote: »

... this will be liable to tax unless your total interest is no more than £1,000.

added the missing negative for you.

agrinnall

zak2012 wrote: »

Sorry im more confused now, my question was, how much in money i eran from these saving accounts? atleast how much from TSB monthly saver if i save £250 for one year on %5 intrest?and TSB classic plus, i need know how much intrest for i.e £50 intrest one year??etc.. ? thanks

I'm pretty sure that the device you are using to post your questions with will have a calculator function, you've been told how to do the calculations, I don't really see why we should do them for you.

Anthorn

zak2012 wrote: »

How much you earn for each bank if you have these following accounts ....i.e
TSB Classic Plus 5% pay in £500 a month and keep in £2000 always
TSB monthly saver 5% pay in £250 a month for 12 months
Nationwide flexaccount 5% pay in £1000 and keep £2500 all times.
M&S
tesco
basic tax payer rate 20%
thanks

Mine doesn't really apply.

TSB Classic Plus not a lot. I keep the balance at £500 with the excess in the thousands in my TSB eSavings account at 0.75% currently. Funds tend to go back and forth between the two accounts. Most people would do that differently but I'm not most people. I consider funds in my current account to be at risk. My Rainy Day fund is kept in the credit union to support local people who are less fortunate than myself because I was once less fortunate than myself and I know how it feels.