ME Bank FHSA Interest Rate

Malarkey on 01/12/2014 - 11:14

Hi guys,
I got my $1020 government contribution on the 20/11/2014 for my FHSA. I logged in today and noticed that they had dropped the interest rate to 2.75%. Now I'm positive that last month it was higher than this as I've done the calculations and I'm getting less interest than I'm getting last month when my account was $1000 less than what it is now.

Has anyone else noticed this?

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Comments

  • klownz on 01/12/2014 - 14:34

    Thanks for the heads up. I recall the FHSA rate used to be 3.25% (3.75% - 15% tax = 3.25% after tax). Now its listed as 2.75% but no mention of the 15% govt tax.

    Assuming that this is the after tax rate, I've contacted MEBank to confirm though.

    • klownz on 01/12/2014 - 16:53

      Oops I mixed up with IMB. I recall that mebank used to be 3.25% though.

      IMB's rate is 3.82% before tax, 3.25% after tax - may be worth seeing if you can move to them.

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