We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Northern Rock Query
sindy_2
Posts: 298 Forumite
speaking as a novice can someone tell me if I'm right....If I open a NR Bond savings account with £550 pounds I can expect to recieve a monthly 6.9% rate of £37.95 into my nominated bank account until January 2009?
also if I immediately put back into the bond the interest earned a month would that be allowed?
thanks
also if I immediately put back into the bond the interest earned a month would that be allowed?
thanks
Distant fields will always look greener.Yet, golden opportunities are all around you
0
Comments
-
Hi,
sorry, £37.95 would be for a whole year, you would only get about £ £3.16 per month.0 -
No. 6.9 is the annual percentage rate. On £550 you would get £3.16 monthly if you are not a tax payer, if you are and on the lowest band 20%, you would get only £2.52 a month approx. Hope this helps.0
-
lol Thanks...I thought I'd got it wrong thanks for your help
Distant fields will always look greener.
Yet, golden opportunities are all around you0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.6K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards