- Thread starter VanZan
- Start date

- Messages
- 2,745

€78.25 after DIRT

- Messages
- 2,745

€57.53

- Messages
- 2,745

€76.70Carrying on with this, what would be the interest after 10 months saving €200 per month, after DIRT, of course? Ta very much...

You can estimate the gross return on such regular saver accounts using this calculator.Re Irish Nationwide Regular Saver @ 7.35%: What would be a year's interest on €150 per month? I tried using one of the calculators but I'm doing something wrong. I wonder would the interest be so small as to not be worth the hassle?

R

Harchibald, can I ask how you came up with this figure?€78.25 after DIRT

My simple rule of thumb for these accounts (ignoring initial lump sum) is total paid in for the year divided by 2 (in this case 900), then calculate the interest based on this figure, less DIRT.

I came up with €52.92 (for the original 150 for 12 months @ 7.35)

- Messages
- 2,745

I don't know how I came up with these figures. I think the batteries in my calculator are a bit worn out.Harchibald, can I ask how you came up with this figure?

My simple rule of thumb for these accounts (ignoring initial lump sum) is total paid in for the year divided by 2 (in this case 900), then calculate the interest based on this figure, less DIRT.

I came up with €52.92 (for the original 150 for 12 months @ 7.35)

Using

150 for 10 months = 41.01 interest

150 for 12 months = 58.36

200 for 10 months = 54.69

200 for 12 months = 77.81

I found a link to that calculator on a forum search. Yet I'm using it wrong. It's the "Future Value" one yes? I put 150 in for "Total invested each month", 1 Year(s) in for "[FONT=verdana, arial, helvetica][FONT=verdana, arial, helvetica][FONT=verdana, arial, helvetica]Number of month/years to aquire sum" and 7.35 in for "[/FONT][/FONT][/FONT][FONT=verdana, arial, helvetica][FONT=verdana, arial, helvetica][FONT=verdana, arial, helvetica]Interest rate on savings (%)". However I get a result of $1870.88!!! lol I'm doing something wrong obviously [/FONT][/FONT][/FONT]You can estimate the gross return on such regular saver accounts using this calculator.

Yes - you're misreading the results:[FONT=verdana, arial, helvetica][FONT=verdana, arial, helvetica][FONT=verdana, arial, helvetica]However I get a result of $1870.88!!! lol I'm doing something wrong obviously [/FONT][/FONT][/FONT]

The €1870.88 returned comprises (12 x €150) = €1800 capital + €70.88 gross interest (€56.70 net of

Notes: (a) obviously the $ sign is just a display issue and can be replaced with € and (b) as I mentioned above the precise details of the interest earned will depend on the monthly rate applied and how compounding is done (e.g. I'm assuming compounding gross but that is probably wrong) etc. but the above should be a pretty good approximation.

R

you're right - I was thinking that afterwards.rmelly, your simple rule of thumb is fine but would be more accurate still if you multiplied by 13/12 to allow for the fact that on average you are invested for 6.5 months i.e. the average of 12 months for the first instalment and 1 month for the last.

Many thanks ClubMan...wonderful forum you have here.Yes - you're misreading the results:

The €1870.88 returned comprises (12 x €150) = €1800 capital + €70.88 gross interest (€56.70 net ofDIRT).

Notes: (a) obviously the $ sign is just a display issue and can be replaced with € and (b) as I mentioned above the precise details of the interest earned will depend on the monthly rate applied and how compounding is done (e.g. I'm assuming compounding gross but that is probably wrong) etc. but the above should be a pretty good approximation.