Xmas come early? - A&L Regular Saver

mary · 2 November 2006 at 10:46AM

Checked on my Regular Saver yesterday, to find interest has already been added before the 12 payments have been made. Month 1 was January 2006 with £250. Each month payments of £250. Final payment will be December 2006. So was surprised to see net interest added £91.23 yesterday. Rang to find out why and was told that they have decided to pay the interest on the anniversary of opening the account (paper work wise I assume) and the remaining interest will be added upon maturity. In the original letter of confirmation of opening the account, it says the whole lot will be added at the end when it matures.

So I guess we are marginally better off, as the interest will be compounded for effectively November and December in my case.

Bisoy · 2 November 2006 at 11:29AM

Congratulations Mary for your early Xmas present.:beer:

lipidicman · 6 November 2006 at 10:05AM

mary wrote:

So I guess we are marginally better off, as the interest will be compounded for effectively November and December in my case.

I don't think this will make a difference as the interest is always compounded, just not added

Anyway, good to hear the lowdown from a fellow Regular Saver. Thanks mary

I went into the branch on Saturday and they were ABSOLUTELY CLUELESS!

Xmas come early? - A&L Regular Saver

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