Can anyone show me where Im going wrong in calculating Interest on Savings account. Just been credited with Interest on my PTSB accounts. Have a few for myself, wife, son and a Joint account. Interest paid on each way below what I was expecting so maybe im not looking at it correctly.
For example: 16000 in 40 Day Joint Account & Interest rate stated as being 1.95%.
So 1.95% of 16000 is 312. I then take 33% of 312 for DIRT which is 102.96.
Therefore 312 less DIRT of 102.96 should mean I receive 209.04 Interest?
However account credited only 173.43.
Same shortfall (By my calculations) on other accounts.
Any help appreciated!
For example: 16000 in 40 Day Joint Account & Interest rate stated as being 1.95%.
So 1.95% of 16000 is 312. I then take 33% of 312 for DIRT which is 102.96.
Therefore 312 less DIRT of 102.96 should mean I receive 209.04 Interest?
However account credited only 173.43.
Same shortfall (By my calculations) on other accounts.
Any help appreciated!