lloyds vantage interest

westkirby

hello i have 3 lloyds classic with vantage accounts all with 7100 ish in, all funded with 1000 at beginning of each month , paid 16.88 interest this month for each account is this correct as there was 31 days in jan any help please on how they work it out thanks mark

premierfella

The holiday period at the start of january would have meant the January interest payment date was a later date in the month than usual, so less than 31 days interest in this February interest payment as a result.

Funkyfreddy

westkirby wrote: »

hello i have 3 lloyds classic with vantage accounts all with 7100 ish in, all funded with 1000 at beginning of each month , paid 16.88 interest this month for each account is this correct as there was 31 days in jan any help please on how they work it out thanks mark

Interest is calculated daily - all depends on what date at the start of the month interest is credited. You interest in January was cerdited o the 4th so you need to start counting from then.

Any amount over £7k though isn't earning any interest.

FF

Wobblydeb

Definitely low number of days this month. I was paid £16.88 too, and it was £20.51 at end of December.