Interest earned

kieronb

Can anyone explain why the interest I'm earning each month on my natwest ISA has gone down by 10 over the past 6months. I haven't deposited or withdrawn from it but balance is of course increasing as interest in being earned.
I earned 52 interest on 10,500 6months ago and just 42 on 10,800 last month. Is this just due to interest rates changing as I didn't think they'd changed in recent months. But each month I seem to be earning less interest than month before.

THANKS

YorkshireBoy

There have been changes in BOE rates, which may have been passed onto your savings rate.

Why not check the 'previous rates' information on the NatWest site? Any changes in interest rates will be recorded there.

Don't you get an e-mail or letter from them when rates change?

With such a reasonable balance, you really ought to be checking your interest rate more frequently...at least once a month.

noh

Im guessing you have the Natwest cash isa.
Looking at their web site the current interest rate on balances of your size is 4.8%. Prior to 1st May the interest rate was 5.05% so there has been a rate drop.
You can obtain much better rates elsewhere.

Nigel