6 Month Fixed

MX5huggy

DJSINGH said:

masonic said:

Why would you expect to earn a year's interest in just 6 months?

Its a 6 month fixed account saying 2%. Not a 1 year account, so can you see the confusion?

Maybe - but 5yr account would currently be showing 17.5% 

ZeroSum

DJSINGH said:

ZeroSum said:

Because its only for 6months.
It's 2% per year.

Zopa are paying 2.05% on a 95 day notice which is  better option

Ok fine, so its confusing they advertise a year rate, for a 6month account!

You know what the 'A' in APR/AER stands for?

DJSINGH

ZeroSum said:

DJSINGH said:

ZeroSum said:

Because its only for 6months.
It's 2% per year.

Zopa are paying 2.05% on a 95 day notice which is  better option

Ok fine, so its confusing they advertise a year rate, for a 6month account!

You know what the 'A' in APR/AER stands for?

Yes. Come on do we need sarcasm. I just asked for help

london21

DJSINGH said:

Hi all

I am looking to 6 month fix around 40k. I notice Atom at 2% is top.

Their calculator says I would earn £400 interest.

Can anyone explain why its not £800?

I thought 40000/100 * 2 = 800? So its actual 1% interest I would earn instead??

Any better options otherwise?

If you leave in for a year then yes.

or £80k for 6 months will fetch you £800 in interest.