Regular Saver Account Calculating the Interest.

pudds

Registered User
Messages
1,745
Could someone calculate the Gross interest return for me on the following please.

15mth Regular Saver Account, Int Rate 4.0%, this one.

[broken link removed]

Saving €250pm x 15mths = €3750 Gross Interest Earned _______?
 
I make it 93.75 EUR gross before tax.

((250*15)/2)*((15/12)*0.04) = 93.75 EUR

There are other variables such as the value date of each payment, which effects the interest day count, which will vary due to weekends etc. Hence, the above number is an approximate number.
 
There is interest paid on 31st March, as well as at the end of term, so if you let that stay in the Regular Saver account you'll get a bit extra from that, but not much.
 
Back
Top