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What bank do you use for compound interest?
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ambitiouspanda
Posts: 68 Forumite
I really want to start! Can anyone recommend a bank they use? And the interest rate?
**2018 G O A L S**
[STRIKE]1) Pay off overdraft[/STRIKE]
2) Pay off credit card by November 2018
3) Begin 2019 debt free and be debt free for the rest of my life!
[STRIKE]1) Pay off overdraft[/STRIKE]
2) Pay off credit card by November 2018
3) Begin 2019 debt free and be debt free for the rest of my life!
0
Comments
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I use a number, however, you may find these links useful
http://www.moneysavingexpert.com/banking/compare-best-bank-accounts
http://www.moneysavingexpert.com/savings/savings-accounts-best-interestSaved Nitty Gritty £7440.75 [149%] / £5000-[Sep] £58.44:starmod: for the 'Save 12k in 2017' #157
2017 Womble #35 £3463.27
Sept NSDs 4/15:staradminCCCChl 9/12 months:DSept PPChl#002 Pts 71 0 -
any one found the name of the bank that provides account which gives compound intrest0
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Lloyds Bank0
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NatWest BankI am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.0
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No, Barclays.
Wait, was it Halifax?
Maybe Nationwide but that's a building society not a bank, so it probably doesn't fit the brief, but I heard they had an account that paid compound interest too.0 -
Funnily enough I bumped into someone on the street earlier and she said that it's actually the International Bank of Lagos (UK) Ltd that does this. The compound interest rate they currently offer is -99.9% which is pretty good I'm sure you'll agree.0
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Bankety Bank?Remember the saying: if it looks too good to be true it almost certainly is.0
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a piggy bank will work - a penny a day doubled for a month and its time to retire0
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also good fun is the 365 day pay yourself chart 1p then 2p up to £3.65 on the final day- it adds up over the year without trying0
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ambitiouspanda wrote: »I really want to start! Can anyone recommend a bank they use? And the interest rate?
Not sure about the seriousness of your question!
But, assuming it is serious, all banks pay compound interest.
Only, of course, after the initial interest has been paid and only, of course, if the account continues to pay interest anyway after that interest payment.
So - I'd recommend any bank. As for interest rates - look at the comparison tables on MSE main site.0
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