Problems with interest on cash for Freetrade Plus

[AdamL (Adam)]

Brand new for Plus members — earn 3% interest on cash, up to £4,000

Yeah, but that’s not 3% AER AER takes compounding into account, however as it stops compounding at £4K you are never going to get the full £10 per month If you work that calculation backwards from an AER of 3% using 12 payments per year you end up with ~ 2.96% so on £4K you’d get ~£118.38 ish per year which is approx £9.72 - £9.73 ish for a 30 day month (I got £9.73, but I rounded some figures in my calculation, £9.72 is most likely correct) Edit: in a 31 day month you’d get £10.05 so you…

Some interesting calculations here for you.