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Regular Saver/overdraft
study
Posts: 1 Newbie
in Credit cards
HELLO, is it worth funding a regular savings account 8.00 and /or7.00 , with a overdraft rate of 7.75 percent. MANY THANKS
0
Comments
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The benefits would be marginal and if you had to pay tax on the 8% it would be reduced to 6.4% negating any benefits at all.0
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For 8% £250p.m. you can earn £1.63p.a.:eek: if you don't pay tax and if transfers are instant.
For 7% you will lose - obviously0
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