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?
22/07/2015, £15240 invested in ISA, interest paid in April.
05/04/2016, £53.96 interest paid.
ISA interest calculation
Apr 06, 2016
3 Replies
22/07/2015, £15240 invested in ISA, interest paid in April.
05/04/2016, £53.96 interest paid.
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%]
Thanks for replying; 1.2% was the rate advertised (thank God for screen captures!)
I think I may have had my pants pulled down.
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).
Join the Discussion
Have something to add? Share your thoughts — no account required.
Didn't find your answer?
Ask the community — no account required