Lloyds Classic Plus 6% - is your interest correct this month?

AP

£6.56 just gone in - which is correct at 5.84% Gross less 20% Tax (for a change!). But I am still waiting to hear from them about my formal complaint for the August interest, which was a mere £0.16 (at 0.1% as if I have not paid in at least £1,000) and still has not been adjusted.

Milarky

£6.96 for September but should have been £8.66 by my estimate. The interesting coincidence is that's about 20% less (equal to the tax) But I don't pay tax... ...and this same differential was evident in July (paid in August)...

Dagobert

My interest was correct.

Remember, the September interest period runs from 2nd Sep to 1st Oct inclusive.

Paul_Herring

Mine wasn't. Effective AER calculated as 3.1% (instead of 6%.)

Time for another nastygram I think...

Rogerb_2

I was getting fed up chasing this monthly, but they have got it right this month. Got an apology letter yesterday too - the errors were different in the two months affected apparantly. A smaller number had the second error.
Both were corrected ok.

Darts

My interest was also wrong for the last two months (made correct later in the month) but seems OK this time round. I received an apology letter from them yesterday - it said that a very small number of people were affected last month.

Dick_here

Darts wrote: »

My interest was also wrong for the last two months (made correct later in the month) but seems OK this time round. I received an apology letter from them yesterday - it said that a very small number of people were affected last month.

They mean only a small proportion of people affected actually contacted them, more like it ! My interest was wrong for the past two months (right today though) and they made an adjustment to correct it each time. I never contacted them, and they never wrote to me about it...

Dagobert

I meant to click Quote, not Thanks:

sloughflint wrote: »

Are people sure that the dates are from the second of the month to first of next month? Mine don't tally.

I am, see [post=14394641]post #105[/post], first bullet point. I know that from their correction report. Interest is calculated after end of business of the first working day of the month. This is why you do not see it until the day after.

LittleVoice

!!!!!!_here wrote: »

They mean only a small proportion of people affected actually contacted them, more like it ! My interest was wrong for the past two months (right today though) and they made an adjustment to correct it each time. I never contacted them, and they never wrote to me about it...

The apologetic letter for me arrived today. I had not contacted them to complain.

It's probably a "small number" because those of us who took advantage of the 6% offer are a small proportion of all the current account holders that LTSB have.

SparciaM

I got one of those letters as well, and I'm only on the normal 4% interest rate So I'm guessing the whole interest is out of whack!!