Icesave Interest Date

SeanW

Does anybody know when Icesave pay the annual interest? Is this a specific date, or an anniversary of the account opening.

I recently switched, after a few months, from annual to monthly interest, and wondered when I should receive the rest so I can check I get all due.

martyn4764

Hi

It's on the anniversary; could I just check (as I've just done the same thing) that at the end of the first month at monthly interest, you only got the interest for the month, rather than the 'backlog' of accured interest?

(I wasn't sure when this backlog would be paid, either at the first month or the end of the year.)

Thanks

SeanW

Yes, I only got the month's interest.

This is why I asked about the date also, so I could be sure when the date comes, I get the annual portion of interest due.

SeanW

Yes, I only got the month's interest.

This is why I asked about the date also, so I could be sure when the date comes, I get the annual portion of interest due.

martyn4764

Thanks for that. To be absolutely accurate:
"3i. If you have asked for annual interest to be paid to your nominated personal UK bank account, this will be done on the anniversary of the account opening date unless this falls on a day that is not a business day, in which case it will be paid on the next business day."