Q for Lloyds Bank Rep and any MSE members that opened a new Club Lloyds Monthly Saver

HHarry

saintalan wrote: »

HHarry, not sure you will have lost any interest. You will have received interest on the daily balance at the AER%.

True - but I could have put my first payment in the day after opening (the 2nd) rather than waiting for pay day (22nd), so lost 21 days interest, and the same with each payment going forward.


I got all the interest I was due - I'm not complaining!


I think others have calculated the yearly interest at around £110 (compared to the £75 I received) if you get everything timed right - so get your monthly payments in as early as possible!

colsten

HHarry wrote: »

I think others have calculated the yearly interest at around £110 (compared to the £75 I received) if you get everything timed right

£103.38 max before tax, £82.80 after BR tax.

typistretired

My Lloyds Club which matured today was opened of the 3rd of month and maximum £400 was paid into the account around this date. Received £102.71 gross interest.

oldfella

its possible to get around £91.50 net, £114 gross, if you open and pay the first deposit around the 20th, then move the SO to the 1st of the following month and thereafter.