How is the interest on my National Savings’ ISA (Direct) calculated?
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Written on: 16.11.2009 [17:48]
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Linda
Linda
Topic creator
Posts: 4
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How is the interest on my National Savings’ ISA (Direct) calculated? I always thought that interest was simple and that I simple had to times my ISA amount by the yearly interest figure. But I found out today that apparently it is calculated daily. So on my £2000 ISA how much would I accumulate in a year on a 2.5% rate? |
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Written on: 23.11.2009 [00:12]
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Snow
Snow
Posts: 1
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The interest is calculated daily but they only added it every 6 months so it doesn’t make that much of a difference. I used the online calculators to help me calculate. Try this one: http://www.ukinvestmentadvice.co.uk/compound-calculator.htm apparently it is specifically for ISA’s so should give you what you need. |
| Also very interesting: | |
