HelloHi everyone, I have done up a calculator which should give a fairly accurate idea of how much you will receive. It is a bit of a large sheet but the procedures at the top of the page are pretty simple, anyone familiar with basic excel can have it done in 2 minutes once they have their information. It is based on the standard variable rates that AIB were charging over the period but if you were on a different rate just follow the procedures at the top of the page. I have Capitalised the Interest quarterly as that is when AIB charge Interest. I have used the last day of the month in each quarter, I know this probably differs to the dates that AIB charge the Interest but this should not make much of a difference. Happy to take any advice/constructive criticism of the attachment.
AIB have written down my account and the amount was exact per the calculator.
I have made some capital repayments over the last few years and suspect the interest has not been calculated correctly. Will this also work for checking that?
Is anyone aware of the banks making errors in the interest calc when out of course capital repayments are made?
Thanks