Tiered interest on Club Lloyds & Bank of Scotland Vantage

ztkr

Does anybody know if the interest on Club Lloyds & Bank of Scotland Vantage is applied separately to each tier, or to the whole balance?

For example, if the balance on the Club Lloyds account was £5000 for a full year, would the resulting gross interest be £200 (4% applied to whole balance) or £100 (4% applied to £1k, 2% to £2k, and 1% to £2k)?

And the same question for BoS Vantage: if the balance was £5000 for a full year, would the resulting gross interest be £150 (3% applied to whole balance) or £115 (3% applied to £2k, 2% to £2k, and 1.5% to £1k)?

karlie88

The former in both cases.