BoS Vantage average interest?

JustAnotherSaver

I'm reaching out to the mathematical whizzes out there for some help.

BoS Vantage:

£1 - £3,999.99 @ 1.00%AER / 0.99% gross

£4,000.00 - £5,000.00 @ 2.00%AER / 1.98% gross

So on £5k what does that work out at as an average so that i can use it to compare with other accounts out there?

I still have 3 BoS accounts from when they used to be worthwhile but looking at my spreadsheet it was October/November 2018 before i had anything beyond £1 in the accounts.

Rates are dropping everywhere so i'm looking at whether i shut these down or whether they're going to be useful.

mwarby

over a year

4k x 1% = 40

1k x 2% = 20

total interest = £60

£60 / £5000 = 0.012 = 1.2%

GrandFelly

A little unrelated, but a couple of years ago I opened a BOS bank account who were offering an interest paying account, and the flaw I faced was when they asked for proof ID to be shown in branch. Now I live a zillion miles away from all their Scottish branches and they wouldn't accept it down at my local Halifax who are under the same umbrella (i assumed at the time). Neither would BOS accept scanned versions. Had to close the account straight away.