Can someone explain what it means when a bank say, for example:

*x%* AER variable, includes a *y%* fixed rate bonus for 12 months.

So is this offering an interest of *x+y%* for the first year (ignoring for simplicity, that the initial *x%* is variable)?

Rat_au_van
(JFK jr, but don’t tell anyone 🤫)
2
If it’s 1.5%, includes a 0.5% bonus it means the normal rate is 1%

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Makes sense - I was reading it wrong, then. So after the 12mo period, you’ll only earn 1%.

Thanks for the clarification.

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