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Instrest Calculation Question

Last post Sat, May 05 2012, 12:22 PM by huckster. 1 replies.
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  •  Sat, May 05 2012, 12:22 PM

    Re: Instrest Calculation Question

    Write to Nationwide and ask them for a breakdown of the interest calculation. I should imagine that they can just press a button and it will print out the calculation, so it can be sent.
    • Post Points: 5
  •  Sat, May 05 2012, 10:13 AM

    Instrest Calculation Question

    Hi,

    Last year I place £24,200 in to nationwides online cash isa. Through out the year I added the total amount for my allowance which was £5,340. The intrest rate on this account was 3.10% that inclued a bonus rate which I think should have lasted a full 12 months.

    I had my statment though and I only recived £331.31 instrest. From using a instrest calculater and just using my inital investment of £24,200 the tax free instrest on a rate of 3.1% is about £750. Have nationwide made a mistake? or am I just working this out incorrecty?

    Thanks

    Joe.

    • Post Points: 20