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Savings Bond
Josquin
Posts: 130 Forumite
On a fixed Bond, does the saving compound each month (or year) - interest paid on top of interest added to initial deposited amount?
But not if you want to take the interest payment out into your designated bank?
All depends on the bank I presume.
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Comments
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Not if you are taking interest out, because you are taking the money out of the bank is the answer I think.
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If you take the interest out, there's no interest to compound.If you leave it in, it is usually (but not always) added once a year, and earns interest on interest from that point on.Eco Miser
Saving money for well over half a century1
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