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How interest is paid
pmlindyloo
Posts: 13,100 Forumite
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?
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?
0
Comments
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The only way to get the interest money before the annual date is to close the account.Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0 -
Closure of the account.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)
Interest is calculated daily, so you won't lose out doing as you propose.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?0 -
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.0
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