FWMS Interest Payment

foundation10 · 03-02-2011 07:38PM #1

Does anybody have an update in relation to the interest that was to be paid in respect of delayed payments under FWMS? It would at least reduce overdraft some bit

whelan1 · 03-02-2011 09:02PM

according to the farming indo and fj an announcement is imminent:rolleyes:

keep going · 03-02-2011 09:23PM

what about disscussion group payment

whelan1 · 03-02-2011 09:30PM

well minister smith has made an announcement each day for the last few days so maybe tomorrow, i will believe the discussion group payment when i see it , seems to good to be true

5live · 04-02-2011 01:32PM

ALL money due will be in accounts I'd say by feb 24th. Just picked that date randomly:rolleyes:. Does anyone know is it 3.2% of the 60% that was delayed or 3.2% of the lot

whelan1 · 04-02-2011 01:46PM

3.2% on the 60% balancing payment

just do it · 04-02-2011 09:33PM

5live wrote: »

ALL money due will be in accounts I'd say by feb 24th. Just picked that date randomly:rolleyes:. Does anyone know is it 3.2% of the 60% that was delayed or 3.2% of the lot

I'd say it's interest on the 60% for 1 year (2009) and then interest on the 20% for 1 year (2010). Also I bet the interest on the 60% will only start from the time of payment of the first 40%, as it was only from this date the 60% was deferred. For me this means I'm expecting around 9 months interest on the 60% and 12 months interest on the 20%.

The terms around the interest rate left the Dept some wriggle room, so seeing as the ECB rate dropped, I wouldn't be surprised if the interest rate they pay out on will also be revised downwards.

Time will tell, the one thing for sure is I could do with it NOW;)

whelan1 · 05-02-2011 08:54AM

happy days , nearly 1100 euro in my account

reilig · 05-02-2011 10:06AM

whelan1 wrote: »

happy days , nearly 1100 euro in my account

Eur 1062 for me

just do it · 05-02-2011 11:38AM

whelan1 wrote: »

happy days , nearly 1100 euro in my account

reilig wrote: »

Eur 1062 for me

Great stuff, nothing like an election to get the money flowing!:)

Did this match what you thought you'd get?

whelan1 · 05-02-2011 11:42AM

ye , its on the 60% balancing payment

adne · 05-02-2011 06:21PM

whelan1 wrote: »

happy days , nearly 1100 euro in my account

Give us the calculation that the 1100 was based on till i see how much i should get

whelan1 · 05-02-2011 06:24PM

thats very nosey:D total grant was 52000, got just over 20k twice , so 60% was 31k got 1088 today

foundation10 · 05-02-2011 07:52PM

Got mine too, keep it rolling now dept of ag with the other schemes!

just do it · 05-02-2011 07:58PM

whelan1 wrote: »

thats very nosey:D total grant was 52000, got just over 20k twice , so 60% was 31k got 1088 today

That will put me in line for €946 - looks like they worked on a 3.2% interest rate as someone else mentioned earlier. I'll find out on monday when I ring the bank, fingers crossed there's a deposit in there!!

keep going · 07-02-2011 12:19AM

just looked at bank acc and there has been 4 lodgements between 25/1 and 7/2,can we have an election every year please,maybe i might vote fiann fail after all....................only kidding not even if i was paid

whelan1 · 08-02-2011 01:05PM

was talking to teagasc advisor today and the discussion group payments are due before the end of this month

just do it · 11-02-2011 07:38PM

just do it wrote: »

I'd say it's interest on the 60% for 1 year (2009) and then interest on the 20% for 1 year (2010). Also I bet the interest on the 60% will only start from the time of payment of the first 40%, as it was only from this date the 60% was deferred. For me this means I'm expecting around 9 months interest on the 60% and 12 months interest on the 20%.

The terms around the interest rate left the Dept some wriggle room, so seeing as the ECB rate dropped, I wouldn't be surprised if the interest rate they pay out on will also be revised downwards.

Time will tell, the one thing for sure is I could do with it NOW;)

Happy days, got the payment:D. 3.2% on 60% for 9.5months, plus 3.2% on 20% for 1 year.

FWMS Interest Payment

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