Which interest rate is better - Monthly or Yearly for ISA?
540838
Well if you get 5% intrest monthly but 10% yearly if it's a compound deal go for the monthly. If it's just simple it's up to you. (I'd still go monthly if it was me)
301123
That is a good rate, but be sure to read the fine print...they can often increase the interest rate if you are late, don't pay a certain amount each month, or after a certain period of time.  It is better to pay it off each month if you can...then you are paying 0% interest...can;t get better than that!
928963
you probably want short term borrowing.\n\nMoney shop will cash cheques for 1 month and charge about 6%\nup to £500 at a time.\n\nProvident will lend money but charge the earth.
779839
Assuming that you're in the UK there's a few options - just save in a regular account, put money into an ISA each year, or go for an endowment product - you pay a monthly premium and it pays out a lump sum after a set period (the monthly premium and the period of the plan depends on the size of lump sum you need).  This type of investment will depend on stock market movements so you might not get back as much as you think.\n\nAnother option is a friendly society bond - you can put up to £25 a month away over ten years tax free.  Try looking at a company like Scottish Friendly.
1030540
Even though its an annual fee it will accrue interest in you do not pay the whole balance off.\n\nLC
15075
Something you do not want!\n\nAjustable Rate Mortgage...this percentage interest on your mortgage will change based on a percentage over the goverment's T-Bill, which changes for inflation throughout the year. If interest rates are VERY high, say over 8-9%, you may wish to get a low Adjustable Rate with the idea that it will go down in the future and you can then refinance a fixed rate at that time...or...if you are making little money now and need a low payment but are certain that you will be able to afford a higher payment in the future. These often have maximums that they can go up per year, but eventually they are going to give you a much higher finance charge and interest paid over the length of the loan. \n\nA low fixed rate is preferable if you plan to make payments for the lenght of the 15 or 30 year loan and don't want to pay a lot of interest ;)
560902
Go to the bank or employ an adviser. We can harp on about what to do but the Bank is the first place. Bank of Scotland is the best at the moment if you are in the UK
227945
get a 7/1 interest only ARM product. if you are planning on staying for 5 years, get the extra 2 year buffer. depending on your tax bracket, you may also want to buy down your interest rate. you can tax deduct it now and benifit by a lower payment.\n\ngood luck,\n\namir
1117822
yes, but hsbc and emigrantdirect have higher rates\n4.8 and 4.65 compare to ing's 4.25%
870611
Spread your investment - interest rates just got boosted, to anything tied to the BOE base rate is going to rise in value, but the property market shows no sign of tailing off. However, 70k is not a great deal of money and there's no point in just getting a two bed terrace in the middle of nowhere just for the sake of it.\n\nKeep the money close at hand by investing in something which doesn't tie it up for too long. 1 - 3 year stepped rate savings bonds which allow you access to your money a set number of times per year are probably your best bet. Other than than, anything tied to the FTSE is going to have to rise faster than 9% per year in order to outperform fixed income products, so stick to managing a small portfolio if you want to rather than shoving the lot into shares.\n\nIf, after three years, you haven't spent a penny and you've got 77 - 80k, then you've done well.
430366
Compounding when interest builds on something. If interest is charged or paid monthly then the interest compounds monthly.\n\nAnnual % rate is the rate per year. In the example of having a certificate of deposit at a bank, it is the amount that the bank gives you if you were to get paid interest once a year. Generally that number is divided by 12 and paid monthly.\n\nAnnual % yeild is the annual % rate you get when you include the interest that you earn on your interest.
733123
Check out a comparison site that has several annual plans from different companies.\n\nhttp://www.squaremouth.co.uk\nhttp://www.squaremouth.com
990884
Emigrantdirect.com and INGdirect has one of the highest interest rate for a savings account.\n\nBut a majority of Bank accounts usually don't have high interest rates. You are better off investing in mutual funds if you want the highest rate of return in the LONG RUN.
60179
I would say refinance,(try seeing if your personal bank will take over the note)because it is alot easier, and the car market isn't as soft as it used to be (a soft market means low interest rates due to high production and people buying cars. We are currently in an economic rescession, so things have gotten tougher, or a 'hard market')so your probablility with getting an interest rate that is not much different or worse is higher that what I would want to risk. Also, speak to your personal banker. you may be able (if you have any) to pull some equity out of your car and use it to pay off more on your credit if that is high on your priority list. Good luck.
261407
By doing an option arm.  They normally come with a start rate of 1% for the first five years which is also called deferred interest.  Your payment of P&I would be about $1769.99 vs. $3974.18 on a 30 year fixed at 6.25% or the same as interest only at $3645.83
369088
If you got 3% interest annually it would be at $572.18 now.\n\nI get 3% on savings at my credit union, bank rates will be lower.
240247
You must add one important detail: is it 4.8% per annum (yearly) or monthly?\n \nIf it's per annum:\n1000 * [1 + 0.048/12]^months\n \nIf it's per month:\n1000 * [1 + 0.048]^months\n \nTo find out how much after 1yr and after 2yrs, subtitute months by 12 and 24.\n \n \n\nIn Reply to the Mar 6, 2006 addition\n  \nLynn, you did say "compounded monthly" and people will almost always take this as "per annun with monthly componding" and almost always, it is. But it's not necessarilly so. It could be 4.8% per month with monthly compounding, for example. Ok, I'm kind of pushing it, but it's still true. You should be aware of these trick questions.\n \nAlso be aware that there are countless ways to calculate interest. I've worked with finance all my life and am a PhD student now and still see new ways once in a while. There are several things that may affect the result and the way to work thru the problem. The kind of interest you are learning now is a very basic form and for now you should only be aware that the way the interest rate is expressed must refer to a period. This period has no relation to the compounding period. Usually, it will be per annum but doesn't have to. For example, my bank informs me of the overdraft interest rates as a monthly rate, it is compounded daily but in a completely diferent way than the one you're learning. So keep in mind that you might be asked a question in which the rate is (for example) 5% per semester with semi-monthly compounding, over a period of one year. That is a legitimate question and will result in more than 10% per year. Good luck.