Expected monthly Interest on €2M

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polo1

Registered User
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Could anyone please advise what the expected monthly interest would be on lump sum of €2M. Whats the best rate I could expect please?
 
Well if you got 5% on it then it would be

(((€2M @ 5%) / 365) * number of days in month) * 80% (to allow for 20% DIRT)

assuming that you were withdrawing the interest each month and not compounding it. e.g.:

c. €6,800 net of DIRT for January.

For a sum of €2M you should try to negotiate a special rate. Some standard accounts on offer have upper limits of €1M or maybe even less in some cases.
 
Yeah wishful thinking... Just speculating on how much I would need to live on!!.. The lotto would be easy!!

Thanks clubman... wasnt much good at interest calculations!
 
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