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Comparing FirstDirect's ISAs

I've put together the below spreadsheet to compare First Direct's Cash e-ISA with their Regular Saver ISA.

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The two scenarios depicted are:

Regular Saver ISA (7% AER)

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User deposits the maximum of £300, every month, for 12 months. Cash e-ISA (5.53% AER)
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User deposits one-off maximum of 3300 on first day, and then deposits nothing further for 12 months. Can someone please advise if I've lain out the interest correctly?

It looks to me that the Regular Saver ISA loses (although I suppose the money that is not deposited at the outset can be earning elsewhere.)

Reply to
Toby Newman
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The above was my first post to this group. I wonder if:

-The question was too banal

-The question was too hard

-I was in some way rude

-The link didn't work

-I'm being attention-hungry!

Reply to
Toby Newman

You haven't. Doesn't it feel slightly odd that a deposit of 3000 earns almost 2200 by the end of 12 months?

By comparing what with what?

Even if you get the amounts of interest right (by using monthly rates rather than annual), you're still comparing apples and oranges, because the invested balances are inconsistent. Your parenthesised supposition is rather important, if you want a valid comparison - and don't forget to knock off tax when you're working out the 'earning elsewhere'.

Reply to
Roger Morton

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