Tsb plus account 5%

YorkshireBoy

Snowbelle wrote: »

Its 21.92p per day after tax of 20% per account.

Doesn't make a lot of difference here, but just in case you're ever playing with large numbers you need to use the gross p.a. rate (in this case, 4.89%).

Aquamania

Snowbelle wrote: »

Its 21.92p per day after tax of 20% per account.

I've no idea how they calculate the interest.

I paid in £2000 on 31-Mar-2014

I have received the following interest payments

01-Apr-2014 - £0.44
01-May-2014 - £6.44
02-June-2014 - £6.80

Is this what others have received? Why was May's interest less?

EarthBoy

Aquamania wrote: »

I have received the following interest payments

01-Apr-2014 - £0.44
01-May-2014 - £6.44
02-June-2014 - £6.80

Is this what others have received? Why was May's interest less?

I received £6.87 on 2 June, so I've got 7p more than you for some reason.

Wammer

Aquamania wrote: »

I've no idea how they calculate the interest.

I paid in £2000 on 31-Mar-2014

I have received the following interest payments

01-Apr-2014 - £0.44
01-May-2014 - £6.44
02-June-2014 - £6.80

Is this what others have received? Why was May's interest less?

There were only 30 days in April and 31 days in May.

Snowbelle

YorkshireBoy wrote: »

Doesn't make a lot of difference here, but just in case you're ever playing with large numbers you need to use the gross p.a. rate (in this case, 4.89%).

Yes agree was just trying to make it a bit easier.
£2000 x 4.89% / 365 x number of days in month x 0.8 (if BR tax payer)

DragonQ

So...anyone else only have one account registered for gross interest instead of both? Didn't take long for TSB to join the list of banks that can't seem to do simple things correctly (I registered them both at the same time over the phone as soon as the second one was opened).

Frogletina

Aquamania wrote: »

I've no idea how they calculate the interest.

I paid in £2000 on 31-Mar-2014

I have received the following interest payments

01-Apr-2014 - £0.44
01-May-2014 - £6.44
02-June-2014 - £6.80

Is this what others have received? Why was May's interest less?

Mine was
April 0.44
May 6.44
June 6.86


May's interest would be less because there were only 30 days in the previous month

Aquamania

Wammer wrote: »

There were only 30 days in April and 31 days in May.

Frogletina wrote: »

Mine was
April 0.44
May 6.44
June 6.86


May's interest would be less because there were only 30 days in the previous month

Sorry, I guess I should have been more precise in my question.

Why was May's pro-rata interest less?

£6.44 / 30 = 21.47p

£6.80 / 31 = 21.94p

Frogletina

Aquamania wrote: »

Sorry, I guess I should have been more precise in my question.

Why was May's pro-rata interest less?

£6.44 / 30 = 21.47p

£6.80 / 31 = 21.94p

Looks like 32 days have been paid due to the 1st being on a Sunday, at least in my case


Not sure why Earthboy's June payment has been rounded up and mine hasn't!


Where is my 1p!

SG27

Frogletina wrote: »

Looks like 32 days have been paid due to the 1st being on a Sunday, at least in my case


Not sure why Earthboy's June payment has been rounded up and mine hasn't!


Where is my 1p!

I only got £6.86 per account too!