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Access Bank, can somebody do the maths for me please?
Slinky
Posts: 11,643 Forumite
I've got a bond with Access Bank maturing next month.
They are offering me 3 renewal options
3 year fix at 5%Grose AER plus £75 bonus
2 year fix at 5.8% plus £50
1 year fix at 5.8% plus £25
I can have the bonus added into my new account, or returned to my nominated savings account. I'd most likely go with adding it to the new account.
Elsewhere I can get 6% on a 3 year fix or 6.05% on a 2 year.
Which would be the better option please? The bonus element is confusing me.
Make £2026 in 2026
Prolific £177.46, TCB £10.90, Everup £27.79, Roadkill £1.17
Total £217.32 10.7%
Prolific £177.46, TCB £10.90, Everup £27.79, Roadkill £1.17
Total £217.32 10.7%
Make £2025 in 2025 Total £2241.23/£2025 110.7%
Prolific £1062.50, Octopoints £6.64, TCB £492.05, Tesco Clubcard challenges £89.90, Misc Sales £321, Airtime £70, Shopmium £53.06, Everup £106.08, Zopa CB £30, Misc survey £10
Make £2024 in 2024 Total £1410/£2024 70%
Prolific £1062.50, Octopoints £6.64, TCB £492.05, Tesco Clubcard challenges £89.90, Misc Sales £321, Airtime £70, Shopmium £53.06, Everup £106.08, Zopa CB £30, Misc survey £10
Make £2024 in 2024 Total £1410/£2024 70%
Make £2023 in 2023 Total: £2606.33/£2023 128.8%
0
Comments
-
It depends on how much money you are investing.
6% is better than 5% + £75 for any amount over £2246
6.05% is better than 5.8% + £50 for any amount over £94401 -
I thought it looked complicated! Thanks very much for working it out @greatkingrat
Make £2026 in 2026
Prolific £177.46, TCB £10.90, Everup £27.79, Roadkill £1.17
Total £217.32 10.7%Make £2025 in 2025 Total £2241.23/£2025 110.7%
Prolific £1062.50, Octopoints £6.64, TCB £492.05, Tesco Clubcard challenges £89.90, Misc Sales £321, Airtime £70, Shopmium £53.06, Everup £106.08, Zopa CB £30, Misc survey £10
Make £2024 in 2024 Total £1410/£2024 70%Make £2023 in 2023 Total: £2606.33/£2023 128.8%0
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