What is an AER Interest Rate? (Annual Equivalent Rate)

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Hey! Here's our video explaining what an AER rate is, why it's helpful and why it's on your bank statement. We hope you enjoy the video :)

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good explanation! Would be great if you can attach the equal for calculation as well (just a suggestion)

wangliz
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I needed this as I’m trying to calculate a savings scheme to maximise on interest. Thanks 🙃

leosleo
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But the AER rate does not match the interest you get paid.

SpikeXtreme
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Am under 18 and am still confused. I have a 2.5 AER sooo does that mean I get an extra 2.5 percent of my money on the saving account?

tutsees
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pls Help me with this : When to use the equivalent interest rate as the discount rate?

vnghnfghn
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ONLY USEFUL IF YOU NEED WHAT YOU ARE TALKING ABOUT SORRY. EXAMPLES ARE NECESSARY

phillipostadden