If I had 1 million pounds in the bank, how much interest would i earn a day?

Not Financial Advice: How much interest you earn will depend on the bank and the type of account you have. The amount of interest expected also depends on the Bank of England base rate.

If you start with £1,000,000 in a savings account earning a 5% interest rate, you'll earn an annual interest rate amount of £40,000; £3,333 (monthly); £833.25 (weekly); £109.59 (daily).

You can also check out how much your savings stand using the savings interest calculator at Lcplc.co.uk.

Just like any adventure, committing to living frugally can come with its pitfalls. When it comes to budgeting and taking care of debts, sometimes it’s not so much about making more money as it is about saving the money you already have.

The tricky part is knowing where to start. What savings can we make right now that could make a lasting difference? Check out these 101 hacks to help you keep the pounds in your pockets shared by MoneyAware.co.uk.

Tag: interest rate 

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