📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Re Cahoot Sunny Day Saver

pennyfarthing66
pennyfarthing66 Posts: 28 Forumite
Third Anniversary 10 Posts Name Dropper
edited 13 April at 3:25PM in Savings & investments
Apologies if I've missed the answer to this elsewhere.
Is the maximum £3k for interest purposes referring to capital only, or would it include any compounded interest?
Thanks.


Comments

  • masonic
    masonic Posts: 27,439 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    It refers to the maximum balance upon which you will earn interest.
  • where_are_we
    where_are_we Posts: 1,226 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I choose annual interest payment over monthly interest payments. Anything above £3000 capital balance earns 0%. Simpler for HMRC interest calculations and also who needs the extra work every month of skimming off a small interest payment.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.4K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.8K Spending & Discounts
  • 244.4K Work, Benefits & Business
  • 599.6K Mortgages, Homes & Bills
  • 177.1K Life & Family
  • 257.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture