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How to calculate interest

dickdaby1962 · 2024-04-11 10:01:43

I have a Fixed Term 1 Year ISA valued at £10,932.52 with an interest rate of 5.9% AER I received £47.43 in interest for March I was told that the daliy interest rate is 1.63% and that it was calculated for February (29 days) but the bank could not help me any further Can anybody provide an insight into the calculation of…

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Tagarete Posts: 4 Newbie

1 May 2024 at 3:46PM

Thanks everyone who responded to my query, that's very helpful. Yes, I could do a 5%, this just happens to be a offer from the bank where I currently have the sum in a current account, thought it might be easier/quicker, but I have seen some 5% offers, and thankyou for also calculating me that interest too )

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How to calculate interest

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