Northern Rock Fixed Rate Bond

SnowMan

Stompa wrote: »

Has anybody received notification of their first annual interest payment yet? (Annual interest is paid on the first business day following 31 January).

I've received today a written statement from Northern Rock showing gross interest added and tax deducted at 31st January for this account. Amounts are as expected.

Stompa

SnowMan wrote: »

I've received today a written statement from Northern Rock showing gross interest added and tax deducted at 31st January for this account. Amounts are as expected.

Thanks, mine has arrived this morning too. Marginally more than I was expecting, not that I'm complaining!

SnowMan

Stompa wrote: »

Thanks, mine has arrived this morning too. Marginally more than I was expecting, not that I'm complaining!

Same here. There is an explanation though in my case. I made a number of separate deposits some of which were close to the end of 31st January 2011.

The interest paid on 31/1/2011 did not include interest on some of these amounts for the short period to 31/1/2011. So there is a catch up bit of interest included in the 31/1/2012 payment which should really have been in the 31/1/2011 payment.

The total interest I calculate for January 2011 and January 2012 combined is correct to within a few pennies in my case.

skitskut

SnowMan wrote: »

Same here. There is an explanation though in my case. I made a number of separate deposits some of which were close to the end of 31st January 2011.

The interest paid on 31/1/2011 did not include interest on some of these amounts for the short period to 31/1/2011. So there is a catch up bit of interest included in the 31/1/2012 payment which should really have been in the 31/1/2011 payment.

The total interest I calculate for January 2011 and January 2012 combined is correct to within a few pennies in my case.

Had my statement too. I never got any interest for the period up to 31/01/11 but like yours it's been included in this year's interest payment.

Did you use your window in October or were you able to let it pass without making a withdrawal?

Stompa

SnowMan wrote: »

Same here. There is an explanation though in my case. I made a number of separate deposits some of which were close to the end of 31st January 2011.

The interest paid on 31/1/2011 did not include interest on some of these amounts for the short period to 31/1/2011. So there is a catch up bit of interest included in the 31/1/2012 payment which should really have been in the 31/1/2011 payment.

The total interest I calculate for January 2011 and January 2012 combined is correct to within a few pennies in my case.

I also made a number of separate deposits prior to 31st Jan, and had allowed for that in my calculations. Nevermind, since it's in my favour I can't be bothered to try and figure it out!

SnowMan

skitskut wrote: »

Had my statement too. I never got any interest for the period up to 31/01/11 but like yours it's been included in this year's interest payment.

Did you use your window in October or were you able to let it pass without making a withdrawal?

I put in a 180 day withdrawal notification in April which would have allowed me to withdraw money between 17th and 31st October 2011. However I let it pass without making a withdrawal so the full balance remains in the account.

I haven't (yet) put in any subsequent 180 day notification of withdrawal.