Tsb classic plus

Kim_13

Nice large interest payment in, due to the non-working days at the start of the month

I did "borrow" from the account in the last few months, but I think I had the full 2k all month this time.

joeblags

large payment? I wouldn't call it large... its free money so I fill tsb with 2k but its far from large amounts of interest lol

Kim_13

joeblags wrote: »

large payment? I wouldn't call it large... its free money so I fill tsb with 2k but its far from large amounts of interest lol

Largest I've seen so far. Had the account for a year now and full with 2k for the majority of that time.

Archi_Bald

It's because we got 34 days worth of interest (December 2 to January 4) this month.

Next month will only be only 28 days worth (January 5 to February 1)

Dan83

How much per month do you get from £2000? I've only recently opened mine and filled it with cash, so haven't had a full months interest.

molerat

Around £0.27p gross per day, £7.77 - £9.11 per month.

eskbanker

Dan83 wrote: »

How much per month do you get from £2000? I've only recently opened mine and filled it with cash, so haven't had a full months interest.

Average gross monthly interest is £2000 x 4.89% / 12 = £8.15, so £6.52 after basic tax.

However, as per Archi's post above, since there aren't 12 equal periods in the year you'll get some months better than others (based on time between first working days of the month), so this period of 34 days gives £7.29 whereas the next 28 day period will be £6 dead.

Dan83

thanks guys, I always wondered why my mortgage interest differs every month (always between £160-£185), that must also be done daily.