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!
monthly or annual interest
bestcheck
Posts: 12 Forumite
Hi,
I am planning savings products for about £80,000 capital. I want to be able to be able to review my options in 6 months, possibly to withdraw into a wider range of investments. Is it important to choose monthly interest? Or if I choose annual interest in a no penalty savings account - and close it in 6 months - would I lose out?
ALSO, does the day of the month when a lump sum deposit is made make any difference to interest payments in a savings account or bond?
Many thanks for any advice.
I am planning savings products for about £80,000 capital. I want to be able to be able to review my options in 6 months, possibly to withdraw into a wider range of investments. Is it important to choose monthly interest? Or if I choose annual interest in a no penalty savings account - and close it in 6 months - would I lose out?
ALSO, does the day of the month when a lump sum deposit is made make any difference to interest payments in a savings account or bond?
Many thanks for any advice.
0
Comments
-
Is it important to choose monthly interest?
no
Or if I choose annual interest in a no penalty savings account - and close it in 6 months - would I lose out?
no
ALSO, does the day of the month when a lump sum deposit is made make any difference to interest payments in a savings account or bond?
no0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards