Trading212 CASH ISA 5% or 5.1%?

P1Fanatic

I opened my ISA mid august when it was 5.2% then got an email on the 26th August saying interest rate was dropping to 5% as of 9th September. However the app keeps showing 5.1% - did it go back up or am I missing something more obvious?

I've tried checking the interest calculation but my numbers are not matching - possibly as I am calculating it wrong (will start a separate thread for that).

Ayr_Rage

The rate is 5.1%

I've just checked the notifications in the app (bell symbol - top right) and the increase from 5 to 5.1% was notified 22 days ago.

Ayr_Rage

The rate of 5.1% is AER with daily interest compounded.

If you use the underlying rate of 4.97% (it's on the moneyfactscompare site) then your daily interest calculation should be correct.

AlwaysLearnin

Just in case you don't see my response on your other thread:
https://forums.moneysavingexpert.com/discussion/comment/81041971/#Comment_81041971

P1Fanatic

Ayr_Rage said:

The rate is 5.1%

I've just checked the notifications in the app (bell symbol - top right) and the increase from 5 to 5.1% was notified 22 days ago.

Thanks - I did not see that but was a page down. Strange they emailed last time.

pecunianonolet

Latest rate changes and when they took effect. I had them confirmed by Trading212 via chat.

09th September 2024	4.88% / 5.0% AER
16th September 2024	4.93% / 5.05% AER
17th September 2024	4.975% / 5.1% AER

Gross rates calculated with Candid Money AER Calculator

P1Fanatic

pecunianonolet said:

Latest rate changes and when they took effect. I had them confirmed by Trading212 via chat.

09th September 2024	4.88% / 5.0% AER
16th September 2024	4.93% / 5.05% AER
17th September 2024	4.975% / 5.1% AER

Gross rates calculated with Candid Money AER Calculator

Thank you. I knew I could rely on the MSE community to come up trumps.