First Active Reg Sav Anyone got interest

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GON10

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Has anyone got their quarterly interest payment on this account this quarter yet, due 1st Jan ?
 
I can't tell because the online statement just states the net (of DIRT) interest payment and not also the gross amount. And because of the varying monthly balance I'm not quite sure how to manually calculate the gross amount.
 
ClubMan said:
I can't tell because the online statement just states the net (of DIRT) interest payment and not also the gross amount. And because of the varying monthly balance I'm not quite sure how to manually calculate the gross amount.
Click to expand...

It is possible to work it out, though it's tricky.

Example if you opened an account on Oct 1, 2008, putting in 1K per month:

Oct 08: 1,000 x 1/12 months x 0.0715 = 5.96 (Total 1,005.96)

Plus 1K deposit at start of Nov 08

Nov 08: 2,005.96 x 1/12 months x 0.0715 = 11.95 (Total 2,017.91)

Plus 1K deposit at start of Dec. Assume rate went from 7.15% to 6.40% on Dec 1.

Dec 08: 3,017.91 x 1/12 months x 0.064 = 16.09

Total Gross Interest = €34.00

Net of DIRT (if charged 20%) = €27.20; Net of DIRT (if charged 23%) = €26.18
 
Does anyone know the exact date (or the week would do) in December that the rate went from 7.15% to 6.40%?

Need this date in order to accurately work out if FA charged DIRT at 20 or 23% for Oct-Dec 08?
 
I don't know the exact date the rate dropped but you can rest assured that 23% DIRT was deducted from the January interest payment. Fair play to you if can come to a calculated conclusion though.
 
trebor said:
I don't know the exact date the rate dropped but you can rest assured that 23% DIRT was deducted from the January interest payment. Fair play to you if can come to a calculated conclusion though.
Click to expand...

Yeah, interest was 23% as far as I can see. It's only a few euro but pretty cheeky.
 
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