jeremysv
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... your calculations are still incorrect; as you've failed to take into consideration the base interest for Oct (which will show up in the Nov balance)
(Your Nov balance should be 15,0010.19 and not 15,000)
I've already done the calculation in my edited post above. If you deposit 15k on 1 Oct 2018; with your assumptions above, 1 year later, on 1 Oct 2019, you'll have 15,203.75.
My bad, i thought bonus and base interest will start in tandem. And zero bonus in the faq example month 1 was due to sibor of less than 1%
Amended simplified calculations with the following assumptions
1) Account opened with 15K deposit on 1 Oct 2018
2) Sibor rate for the 12 mths is constant at 1.0% thus base interest is at 0.8%
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