How interest is paid

pmlindyloo

I do hope you won't think this is a silly question!

I have an internet AA savings account where the interest is calculated daily and paid out on the anniversary of the first deposit date.

If I withdraw the money before that date how can I get the interest that has already been earned? (hope that's the right word)

If I leave a £1 in the account until the year is up will I get the interest on what I first had in the account?

cloud_dog

The only way to get the interest money before the annual date is to close the account.

opinions4u

pmlindyloo wrote: »

If I withdraw the money before that date how can I get the interest that has already been earned? (hope that's the right word)

Closure of the account.

If I leave a £1 in the account until the year is up will I get the interest on what I first had in the account?

Interest is calculated daily, so you won't lose out doing as you propose.

Andystriker

pmlindyloo wrote: »

I do hope you won't think this is a silly question!

If you don't know the answer then there is no such thing as a silly question.