That’s the key point for me - since the bank can’t possibly know how much you will put in each month in advance, it would be misleading to “estimate” the interest for you.
All they can say is if you pay in the maximum amount allowed, per month, as soon as possible you will earn x amount of interest in total over the course of the year. Regulations already require them to publish information much akin to this.
The headline rate is accurate; that is the interest rate that you are being paid on money actually in the account at any one time.
Anybody who can’t understand that had probably better just take cash out and stuff it under their mattress; if they don’t know how interest works then they might as well give up on banking as a concept.
2 Likes
For any of you with a slightly more brutal risk appetite, there’s also Crypto.com and 10% interest on TGBP (one of TrustToken’s cash/cash equivalent backed stable coins) I earn about, £3-4 a week in interest from it
There’s a 3 month locking requirement, but they’re doing quite well on funds in the bank + have a massive deal with Visa so probably can get more capital quite easy if required
Had my fingers burnt on crypto once. Won’t be playing again.
Although, perversely, if I had not cashed in the last remaining bits of my dwindling value bitcoin back then, I may have made a tidy profit now. 
It’s a stablecoin so all the money is held in a bank account, I too have been burned quite heavily recently by actual crypto to the sum of £250 or so, but thankfully I bought Ethereum early enough that it won’t really be much of a loss
I have £250 or so sat in BUSD though that I want to convert to ETH while its reduced in price. Already written the money off in my head since half of it is gone.
P. S. someone feel free to donate me some gas fees on Binance chain (BEP2), I forgot to leave money for gas when converting BNB to BUSD