5% Reg Saver

YorkshireBoy

clairbear wrote: »

Thanks for all replies...seems not only me confused ..been in branch today and told to expect some more interest on June 1st(maturity) thats 6 weeks after 12th payment?
Just to clarify the 1st(£250) was supposed to go on 21st APR 2010 but it failed so after contacting them it went in on 15 MAY..final payment(12th) 15 APR 2011..cb

When did you open the current account (that you needed to access the regular saver?)?

And when, exactly in March, was the first lot of interest paid?

YorkshireBoy

clairbear wrote: »

What should my 'terminal' interest be.. as the 1st £250 has been in 12.5 months
As stated already credited £60 GROSS..£50 nett

£250 x 5% / 365 x n =
£500 x 5% / 365 x n =
£750 x 5% / 365 x n =
....
....
....
£2,750 x 5% / 365 x n =
£3,000 x 5% / 365 x n =

where n= number of days that balance existed for.

Sum up the 12 gross interest figures calculated, multiply by 0.8, and subtract the net interest already paid in March...and there's your answer (as a net interest figure).