ISA interest calculation


Can someone do the maths for me?
22/07/2015, £15240 invested in ISA, interest paid in April. 05/04/2016, £53.96 interest paid.
What rate have I received?
Reply to
Juan Carr

Looks like half of one percent to me. What were you expecting?
[The interest is actually 0.354% of the sum invested but is for only 258 days. When you scale that up to 365 days to get the annual rate, it works out as 0.5%]
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Cheers, 
Roger 
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Reply to
Roger Mills
In article , snipped-for-privacy@gmail.com says...
Thanks for replying; 1.2% was the rate advertised (thank God for screen captures!)
I think I may have had my pants pulled down.
Reply to
Juan Carr

Depends on the T&Cs for the product, and was it a fixed rate or variable rate product (and did they drop the rates mid-term). Also check for any bonuses that might be applicable after a certain time (e.g. 12 months).
Reply to
Allan

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