If u have £100000 in bank how much interest u get per month? - HotUKDeals
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# If u have £100000 in bank how much interest u get per month?

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If u have £100000 in bank how much interest u get per month?
6y, 9m agoPosted 6 years, 9 months ago
If u have £100000 in bank how much interest u get per month?
6y, 9m agoPosted 6 years, 9 months ago
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#1
depends on the banks rate, if you agree to not have use of it, you get a higher rate, if you want access you get a lower rate
#2
Depends entirely on the interest rate.
#3
lets say if the interest rate is 5%
#4
raa
lets say if the interest rate is 5%

This is very simplified but i think this....

5 / 100 x 100,000 / 12 = £416
#5
Nah that's wrong, it's much more complicated, cba working it out though.

You sure? I thought the interest rate was per year, so the above sum would be right.

Suppose it's cumulative so you would have a few pence more each month?
#6
yep, and dont forget you may have to pay tax on it too, so it would be more like £330
#7
if it is 5% it's £416.67 per month. BUT, unless it's an ISA (tax free), you have to pay 20% tax on that if you are a basic taxpayer, so that's £333.33 per month.

assuming it's 100k in the account every month, of course.
#8
#10
well thought of dcx
#11
£5,116.19 compound interest in the first 12 months, @ 5%
1 Like #12
initial amount * rate/12 * (1+ rate/12)^(month - 1) to find how much you get each month

1 £416.67
2 £418.40
3 £420.15
4 £421.90
5 £423.65
6 £425.42
7 £427.19
8 £428.97
9 £430.76
10 £432.55
11 £434.36
12 £436.17
#13
Invest it in shares, RBS IMO.
banned 2 Likes #14
is this thread a wind up?
1 Like #15
thanx this is what id ave left after i see my house ,was thinking of putting in2 ahigh savings for ayear before buying
#16
Depends on many factors e.g the rate of interest, locked in or access..... Here are some examples over a period of 12 months:-

£1,000,000.00 (Present Value)

4% 5% 6%
Basic Compound Basic Compound Basic Compound
£3,333.33 £3,395.13 £4,166.67 £4,263.49 £5,000.00 £5,139.82 PER MONTH

£40,000.00 £40,741.54 £50,000.00 £51,161.90 £60,000.00 £61,677.81 PER ANNUM
#17
jlucke961
thanx this is what id ave left after i see my house ,was thinking of putting in2 ahigh savings for ayear before buying

Well, bad news, you ain't going to get 5% interest.
#18
Inactive
jlucke961
thanx this is what id ave left after i see my house ,was thinking of putting in2 ahigh savings for ayear before buying

Well, bad news, you ain't going to get 5% interest.

This thread is two years old.
#19
Wotwot123
Invest it in shares, RBS IMO.

Lol

489.90 - 243.90 a nice 246pps drop!

Edited By: bazzaric on Jun 18, 2012 09:06
#20
bikerjodie
depends on the banks rate, if you agree to not have use of it, you get a higher rate, if you want access you get a lower rate

Edited By: hasskano on Jul 09, 2013 01:07
#21
hasskano
bikerjodie
depends on the banks rate, if you agree to not have use of it, you get a higher rate, if you want access you get a lower rate
Replying to someone that made a comment over 3 years ago, well done.

Edited By: Retro89 on Jul 09, 2013 01:34
#22
hasskano
bikerjodie
depends on the banks rate, if you agree to not have use of it, you get a higher rate, if you want access you get a lower rate

And joining the forum to reply to a three year old thread with a sarcastic comment is, well, strange.
#23
JayBird
yep, and dont forget you may have to pay tax on it too, so it would be more like £330

Tax is only payable if you are earning above the personal allowance threshold.
#24
I went for a walk in the park yesterday.
1 Like #25
deeky
I went for a walk in the park yesterday.

unaided?
#26
deeky
I went for a walk in the park yesterday.

I hope you used protection..........................................sun cream that is, and took on plenty fluids. We all know incontinence kicks in in later life and wouldn't want you collapsing from dehydration :p