Drip-feeding savings calculator...

newbiesaver55

Hi - does anyone know of a savings calculator that can tell you the outcome of saving - say £1200 at 1.5% but drip-feeding £100 of that amount per month into a 4% account? For example from Marcus to a high street savings account? Is there an easy way to do this?

Thanks in advance

newbiesaver55

I've just found one on MSE!

https://www.moneysavingexpert.com/savings/best-regular-savings-accounts/#dripfeeding

eskbanker

newbiesaver55 wrote: »

Is there an easy way to do this?

There are obviously variations in the fine detail according to exactly when the drip-feeding happens but on the basis that your £1200 is effectively shifted linearly from earning 1.5% to 4% over the year, it's going to earn an average of halfway between those figures, i.e. 2.75%, for £33 interest, give or take....