See [broken link removed]. On balances of €100K-€200K the AER is 5.00% if the interest is paid annually. But if it's paid monthly then the AER is 5.01%. There is a note on the AER figure for monthly payment about compounding of interest. But for balances of €50K-€100K the AER for annual interest payment is 4.75% and for monthly payment it's also 4.75%. For lower balances the figures are 4.60% and 4.59% (i.e. here the AER for monthly payment of interest is lower than the AER for annual payment).
Can anybody explain?
Can anybody explain?