Lloyds 8% Intrest

kanchhelskis

Dear people how much intrest would i get in the 2nd year of this account?

£108 in intrest after the first year.

took 500 pounds out in the second year.

my balance at the moment is £6,100 pounds.

thanks in advance.

LucyTheDwarf

More info required I'm afraid!

When does the year end? When did you withdraw £500? What was the balance at the start of the year, and how much have you added to it each month? Are you a taxpayer? If so, basic or higher rate?

kanchhelskis

it matures tomorrow.

a tax payer.

withdrew 500 pounds last june.

LittleVoice

Expect about £300 nett interest. It depends on the actual dates you have added your £250/month. If you want a precise figure you need to look at the daily balance. Whether you are basic or higher rate tax payer makes no difference, of course, to the amount which LTSB will pay over to you.