what is CAR?

A

AK

Guest
Thinking of opening a northern rock account...

saving for deposit, no point in leaving it in a current account...

What does CAR stand for?
 
CAR stands for Compound Annual Rate and illustrates what the interest would be if interest was paid and compounded each year.
 
Thanks for the info.

On best buy's
page

Northern rock rate for high yield saving rate is 2.60% for min balance of €1,000, no withdrawal notice required.

I can't seem to spot this rate on the northern rock website.

I see rates of 1.61% (monthly) on the demand account with 1.85% on the (annual) account. See [broken link removed]

What's the difference between the monthly and annual versions of the same account and why is the rate low? Where can this 2.6% rate be accessed.
 
I think this is what you're looking for

[broken link removed]
 
thanks for that...the difference is that it's online...

cheers.
 
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