Interest on isa

[worldwidetravel2017]

So isa matures this month.

New rate = tiny bit lower than current....

What's 3.8 interest on 20k pls
( one yr fixed isa )

Thankyou

I believe it will be £760.

Thank you very much

If the full £20,000 is in the account for the whole 12 months it would be around £760 interest for the year.

If you're on a smartphone you should have a calculator. Just type the rate then the % key then x 20000. So 3.8% x 20000 =

Of if there's no % key then 3.8 ÷ 100 x 20000 =

Then you can check any rate.

Or even exactly 760 😁

You should be able to get over 4% at the moment, not a massive difference but why wouldn't you go for the highest rate

Got 4 percent on current 1

Just would be a faff to move when could reinvest there

If you think of it as 10% of £20,000 would be £2000, 1% would be £200 and 0.1% would be £20. Then 3% would be £200 x 3 and 0.8% would be £20 x 8, which is £600+£160 = £760. You can easily calculate any other options the same way, ie, 4% would be £200 x 4.

Thank you

I got 800 this time on 4 percent

So that makes sense re the,little drop

Don’t forget you can transfer the full amount plus interest earned, i.e. £20,800.
If you do that and go for a 4% rate (eg Nationwide 1 year fixed rate cash ISA) the interest would be £832.

Natwest are currently offering 4.2%, have just opened a couple for us.
Just get the bank to transfer.
Do NOT close & withdraw the money.

I want the interest - to pay 300 off cc & have 500 for a buffer until maternity allowance starts in jan