Bank of Scotland Maximum Amount

Sbarker4

Hi,

I've recently opened a new Bank of Scotland Classic Vantage and a Santander 123 account, my question is after reading the Vantage T&Cs it states " Interest is not paid on
balances over £5,000".

I'm assuming that means that between £3000-5000 you earn the 3% interest and over £5000 you still do actually get interest but only on your first £5000? Santander use a similar wording in something I've read but again I'm assuming that do actually receive the interest above the £20,000, but not on any of the extra balance?

Thanks.

YorkshireBoy

Your assumption is correct for both accounts.

colsten

Sbarker4 wrote: »

I'm assuming that means that between £3000-5000 you earn the 3% interest and over £5000 you still do actually get interest but only on your first £5000? Santander use a similar wording in something I've read but again I'm assuming that do actually receive the interest above the £20,000, but not on any of the extra balance?

I am unsure what you are assuming but you will not get any interest balances above £5,000 at Lloyds or £20,000 at Santander. Interests below and up to those sums are as per the terms announced on the respective websites.