Interest on Club Lloyds Monthly Saver

UKSBD

Can't remember when exactly but must have been over 12 months ago as I have £4,800 in a Club Lloyds Monthly Saver which I was saving £400 a month in.

When do they pay out the interest on these accounts?

grumbler

Monthly Saver cannot last "over 12 months":

Your Account will end on the first anniversary of opening the Account and we will convert the Account into an Easy Saver Account... We will pay interest once a year on the anniversary of opening the account.

This information was very easy to find:
http://lmgtfy.com/?q=Club+Lloyds+Monthly+Saver >> Club Lloyds Monthly Saver

UKSBD

grumbler wrote: »

Monthly Saver cannot last "over 12 months":This information was very easy to find:
http://lmgtfy.com/?q=Club+Lloyds+Monthly+Saver >> Club Lloyds Monthly Saver

I had already seen that, it says 12 months.


My 12 months was up at the start of this month, I haven't received my interest and my account hasn't been converted to an Easy Saver yet.


Edit: Ah! just checked again.
I actually opened it on 5th April, with there being £4800 in there I assumed it was over 12 months. (I was counting 1st payment as one instead of zero)


Looks like I should get it on 5th April and it will be converted then.

ColdIron

When you open an account whack it into Google Calendar, it'll even send you a reminder email or two

badger09

UKSBD wrote: »

I had already seen that, it says 12 months.


My 12 months was up at the start of this month, I haven't received my interest and my account hasn't been converted to an Easy Saver yet.


Edit: Ah! just checked again.
I actually opened it on 5th April, with there being £4800 in there I assumed it was over 12 months. (I was counting 1st payment as one instead of zero)


Looks like I should get it on 5th April and it will be converted then.

Haven't you received a letter from Lloyds? Mine changes to an Easy Saver on 4th April and I received my letter explaining the changes, several weeks ago.

Eco_Miser

badger09 wrote: »

Haven't you received a letter from Lloyds? Mine changes to an Easy Saver on 4th April and I received my letter explaining the changes, several weeks ago.

Mine changes in June, and I've already got the letter. Plenty of notice, but also plenty of time to forget again.

UKSBD

badger09 wrote: »

Haven't you received a letter from Lloyds? Mine changes to an Easy Saver on 4th April and I received my letter explaining the changes, several weeks ago.

I received a letter a few months ago, I knew it was changing after 12 months but didn't notice the date.


Because I had £4,800 in there I assumed the 12 months was up
but after doing the math I realised it only takes 11 months to get £4,800 is in there.

chesky

I made the first payment on 22 June last year and it's now got £4,800 in the account, the last payment having been transferred today. But I haven't had any letter from Lloyds, nor has the interest been added. What should be happening now?

chesky

Oops, it was July last year, not June. But still 12 payments.

Vortigern

chesky wrote: »

Oops, it was July last year, not June. But still 12 payments.

You'll get your interest in July. 12 payments made, but 12 months not yet completed.