Hi.
I just thought I'd ask here first before asking Rabo about my query.
I put €25,000 into a 5.25% Rabo fixed term deposit back in June and this has now matured. A couple of days ago, at the end of the term, they put the €25,000 back into my Rabo savings account along with €539.34 interest.
Acording to my calculations the interest should amount to approx. €656.25 which is the principle * 5.25% / 2. Is this too simplistic and am I missing something? I don't believe they have deducted DIRT at this point as there is no mention of tax and I assume this will be deducted from my deposit account overall on 31 December.
Thanks for any help
Edit
Upon closer examination of my account I see that the DIRT has in fact been deducted. Thanks
I just thought I'd ask here first before asking Rabo about my query.
I put €25,000 into a 5.25% Rabo fixed term deposit back in June and this has now matured. A couple of days ago, at the end of the term, they put the €25,000 back into my Rabo savings account along with €539.34 interest.
Acording to my calculations the interest should amount to approx. €656.25 which is the principle * 5.25% / 2. Is this too simplistic and am I missing something? I don't believe they have deducted DIRT at this point as there is no mention of tax and I assume this will be deducted from my deposit account overall on 31 December.
Thanks for any help
Edit
Upon closer examination of my account I see that the DIRT has in fact been deducted. Thanks