TSB Monthly Saver still 2%

MACKEM99

If I put £100 per month into this account how much interest do I get after 1 year

glider3560

MACKEM99 said:

If I put £100 per month into this account how much interest do I get after 1 year

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

MACKEM99

glider3560 said:

MACKEM99 said:

If I put £100 per month into this account how much interest do I get after 1 year

After saving £100.00 a month for 1 year and 0 months, you will have £1,212.96 in savings, meaning you've earned £12.96 interest.

ColdIron

MACKEM99 said:

If I put £100 per month into this account how much interest do I get after 1 year

2% pa for every pound

MACKEM99

ColdIron said:

MACKEM99 said:

If I put £100 per month into this account how much interest do I get after 1 year

2% pa for every pound

2% of £1200 = £24.

ColdIron

pa = Per Annum

You won't get any interest for money not deposited, it's not hard to grasp

MACKEM99

ColdIron said:

pa = Per Annum

You won't get any interest for money not deposited, it's not hard to grasp

Not hard at all 11/12 of if wont be in the account for a year.

glider3560

MACKEM99 said:

ColdIron said:

MACKEM99 said:

If I put £100 per month into this account how much interest do I get after 1 year

2% pa for every pound

2% of £1200 = £24.

The account will only contain £1200 for one month.  You only earn interest on money actually in the account, just like every savings account.

RG2015

This is a bit like calculating the value of pi. It goes on forever.

MACKEM99

RG2015 said:

This is a bit like calculating the value of pi. It goes on forever.

Or which came first chicken or egg.