Questions tagged [interest]

for questions that relate to interest. Interest is a fee paid by a borrower of assets to the owner as a form of compensation for the use of the assets.

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4
votes
1answer
380 views

Taxation difference between income from credit union (CU) shares versus bank deposits (e.g. CDs)?

This question is a follow-up to Difference between a (credit union) "share certificate" and a (bank) CD? What is the difference in taxation on "interest" payments versus "dividend" ...
8
votes
2answers
823 views

Paying off loans early, or is there some way to reduce extortionate interest charges?

I bought a car about 2 years ago on finance. The car was priced at £11k and I was very quick to jump at the chance rather than thinking. Over the 5 year period I'm paying over £18k in total, thats £...
2
votes
2answers
544 views

Do I still get interest if I take money out of a savings account that pays annual interest?

This is probably a silly question, so apologies. I have a savings account started a few months ago. If I take the money out now will I still get the interest on it from the past few months at the ...
8
votes
2answers
1k views

Credit card interest calculator with grace period & different interest rate calculation methods?

Is there an (ideally online) credit card interest calculator that includes grace periods and lets you choose the interest calculation method (eg, "adjusted balance", "average daily balance", "two-...
5
votes
6answers
6k views

Is there a law or regulation that governs the maximum allowable interest amount that can be charged on credit cards or in agreements where credit is extended?

When I worked in the corporate world, I remember dealing with a company from the U.K. who cited a U.K. regulation on maximum interest/finance charges that necessitated a change in their contract. ...
3
votes
1answer
192 views

US Taxation on interest on savings in UK

I have an offer from my employer to move to New York. The move is "permanent" and as such I will become a resident alien within the US. I do not wish to transfer my entire savings over to the US as I ...
6
votes
2answers
2k views

Should I pay the interest or the principal on my second mortgage?

We have a second mortgage on our home from 10/08. It was designed to be deferred for five years, so we're right in the middle. After the deferral, our monthly payment will be $413.74 for 25 years. ...
4
votes
4answers
3k views

How to calculate credit card interest with respect to grace period transactions?

If my credit card currently has a $0 balance, and I make a transaction and pay it back within 25 days, I won't pay any interest, even if I had a balance and was paying interest previously. Is that ...
9
votes
7answers
896 views

Will be debt Free in 3 years — What order should i pay off my cards?

I have budgeted to the point where i can close all credit cards i have in close to three years from now. My question is, should I simply pay 1/3 to each card (will be over minimum payment on all) OR ...
11
votes
2answers
801 views

Has anyone found U.S. Savings Bonds to be effective investing?

Since I was a small child, my grandparents have given all of their grandchildren savings bonds on our birthdays. I'm not sure if it makes a difference, but they are always "EE" series. I had to use ...
9
votes
2answers
342 views

How and where can I deposit money to generate future payments / income?

My Question. What do I deposit now, today, to pay myself $300.00 per week,i.e. $15,600.00 annually at 5% interest for 10 years? What kind of or type of financial institution do I deposit the in? A few ...