Monthly or Annual interest?

squips | 10:47 Mon 15th Oct 2007 | Personal Finance

2 Answers

Subscribe
Report ⚑

Amount Deposited Gross Per Annum
paid Annually AER*
6.30%

OR

Amount Deposited Gross Per Annum
paid Monthly AER*
6.13%

How can I work out which is best for my savings?

Accounting

Tuxedo/Maestro Card?

Answers

1 to 2 of 2

Best Answer

No best answer has yet been selected by squips. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.

Dassie

The AER is your annual equivalent rate so you get a higher return by taking the paid Annually option.

Fay Mousse

I think it works out the same - if you leave the monthly interest in the account you will be earning interest on that as well.

1 to 2 of 2

Do you know the answer?