Interest on a £3000 Cash Isa at 5% is now on offer. Does the value increase by £150 immediately for this year?

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Interest on a £3000 Cash Isa at 5% is now on offer. Does the value increase by £150 immediately for this year?

2007-03-11 09:40:16 · 3 answers · asked by RAYMOND H 1 in Business & Finance ➔ Investing

3 answers

Hiya

No it doesn't - you get 5% interest in total if you leave it with them a year.

So if say you closed it after 6 months you would get £75 interest and so on.

If you recieve monthly interest it would be 5% over a year = £150 divided by 12 = £12. 50 p per month.

Hope this helps, but therir are much better ISA'a out ther, check out Alliance and Leicester at 8% to new account holders.

All the best

2007-03-11 09:45:41 · answer #1 · answered by Wantstohelpu 3 · 0⤊ 0⤋

What happen to your calculator Yes 150

2007-03-11 16:45:01 · answer #2 · answered by redd headd 7 · 0⤊ 0⤋

What do you think ?

2007-03-13 10:32:53 · answer #3 · answered by Steve B 7 · 0⤊ 0⤋