Barclays Monthly Savings 7.49%

~Chameleon~

mary wrote: »

1 July 1.19
1 Aug 2.51
1 Sept 3.64
1 Oct 4.88
1 Nov 6.84
1 Dec 6.90

So looks like yours has been reduced too, assuming you have consistently made regular deposits to the account.

I've made the maximum £250 deposits on the 6th of each month (first payment 06 June) via SO and my interest payments are as follows ...

1 July 1.08
1 Aug 2.78
1 Sept 4.44
1 Oct 5.74
1 Nov 8.30
1 Dec 8.39

antispam246

I think mine has dropped to, actually, checking Barclays site it now says

Current interest rates
Monthly interest (effective from 01/12/08). The following rates (higher interest rates) are paid where no withdrawals have been made in the previous calendar month.

Balance £1+

Gross rate pa% 5.84

Net rate pa% 4.67

AER% 6.00

Having always made max deposit, with maxmum initial deposit (£250)

1 July 2.09
1 Aug 3.59
1 Sep 4.69
1 Oct 6.05
3 Nov 8.02
1 Dec 8.08

Also Tax Haven ISA is now

Balance £1+

Tax-free rate pa% 4.08

AER% 4.16

ScarletBea

But that was a fixed rate deal!
I've just started it, so can't comment on the interest, but I'm interested in knowing the result.

~Chameleon~

Exactly, the rate was fixed for 12mths from date of opening the account. The new rate is supposedly for those who open the account from today onwards.

I've also not received any notification of a change to T&C's, although I'm not sure they are allowed to change a FR account mid-term are they?

RayWolfe

No. Fixed Rate, surprisingly means, fixed rate.

mary

The figures I was quoting were net figures. The overall picture is as follows:
1 Dec Int 6.90 1525.96
5 Nov SO 250 1519.06
3 Nov Int 6.84 1269.08 Int (1 Oct - 2 Nov 8.54g 1.70t)
1 Oct Int 4.88 1262.22 Int (1 Sep - 30 Sep 6.09g 1.21t)
1 Oct SO 250 1257.34
3 Sep SO 250

mary

The figures I was quoting were net figures. The overall picture is as follows:
1 Dec Int 6.90 1525.96
5 Nov SO 250 1519.06
3 Nov Int 6.84 1269.08 Int (1 Oct - 2 Nov 8.54g 1.70t)
1 Oct Int 4.88 1262.22 Int (1 Sep - 30 Sep 6.09g 1.21t)
1 Oct SO 250 1257.34
3 Sep SO 250 1007.34
1 Sep Int 3.64 757.34 Int (1 Aug - 31 Aug 4.54g .90t)
6 Aug SO 250 753.70
1 Aug Int 2.51 503.70 Int (1 Jul - 31 Jul 3.13g .62t)
2 Jul SO 250 501.19
1 Jul Int 1.19 251.19 Int (2 Jun - 30 Jun 1.48g .29t)
2 Jun SO 250

Hope it helps someone. Not sure if I've got the correct amount.

anna42hmr

ScarletBea wrote: »

But that was a fixed rate deal!
I've just started it, so can't comment on the interest, but I'm interested in knowing the result.

i am the same as you, watching this with interest, hopefully they apply the right %.

does any one know what the caluclation is to check?

Careful_ly

Hi All

After seeing the above raising a query re the interest I had a look at my statement and did the number crunching, the interest is correct, 7.49%.

I have also checked the last few months of Marys and hers is okay too.

The reason it looks odd is that the interest paid on 3rd November was for 32 days and the interest credited today is only for 28 days, due to how the weekends have fallen.

If it had been anything to do with the interest drop then we wouldn't have been affected untill next month anyway.

HTH

~Chameleon~

Careful_ly wrote: »

Hi All

After seeing the above raising a query re the interest I had a look at my statement and did the number crunching, the interest is correct, 7.49%.

I have also checked the last few months of Marys and hers is okay too.

The reason it looks odd is that the interest paid on 3rd November was for 32 days and the interest credited today is only for 28 days, due to how the weekends have fallen.

If it had been anything to do with the interest drop then we wouldn't have been affected untill next month anyway.

HTH

So how do you explain that the interest paid doesn't reflect the increase in the balance as it has over previous months?

In my case, how do you explain that the interest I received on 1st Dec was only 9p more than the previous month, yet the balance was increased by £250 on the 6th November?

I've just called them as requested and they are making further investigations as the CS agent also agreed that something was amiss. Strangely enough they're not aware of anyone else having a similar problem so presumably no one else has called to check on this?