Basic deposit interest question

[settlement]

When a bank advertises a 2% return on a 3 month saving, is this in fact only a .5% interest rate as the rate is divided by 4 for the year?

Eg 10k at 2% for 3 months = 10,200
Or 10k at 2% for 3 months = 10,050

Minus DIRT of course

Thanks

 

[Dermot]

The 2% is per annum which is 50 euro for 3 months less dirt

 

[settlement]

Thanks, suspected as much. Mods can close this