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Catinthesun
Posts: 3 Newbie
How can we work out the APR on a regular saver. Eg if I put in £100/m at 7% what is that equivalent apr
0
Comments
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Compared to putting in £1200 immediately into say a 5% ordinary savings account0
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https://www.moneysavingexpert.com/savings/regular-savings-calculator/
(on a 12 month regular saver if you max it out every month the end results is going to be approx equivalent to half the headline % in interest if it was a lump sum).1 -
If you're looking for more interest, then you should put £1100 in an easy access account, and withdraw £100 from it each month to fund the regular savings account.
The "7%" on a regular savings account is already the AER. Are you instead asking how to work out the interest in pounds received from the £100/month account?3 -
Already answered
About 50% over the year so an 8% regular saver equated to about 4% over the year.
Thank you0 -
Fine, just be aware that the "4%" is not the AER.2
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