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Northern Rock Query
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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
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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
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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
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