Bank interest help! My bank says it will pay me 0.50 percent for a 2 year term. If I put £5000 in, how much would I get in interest?
Update:
0.50% tax free/AER for a 2 year term
After the fixed term ends your account automatically changes to an Instant ISA Saver (PDF).
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Verified answer
£50
£5000 x .005 x 2
L25
Not enough to bother with much. Have you considered investing it into a mutual fund?
How often is the interest paid? Are you adding the interest to the capital sum?
£25 a year for 2 years
Why in the name of God did you not ask that as well in your bank ? :)