When to cash in a savings account

[Deleted User]

I have a monthly saver account with Lloyds. Payments are made on 20th of the month, I have been paying the maximum of £400 a month in. It is due to have the last payment made on 20th April in order to get the maximum interest when should I transfer the money out? Interest is 2.05% gross. When would the interest be paid and when should I close the account and transfer the money out. It reverts to the base rate of interest if the money is left in.

CatLady13

As soon as it has reached its maturity date and after the interest has been paid on it, usually the following day. For example, my Nationwide regular savers account reached maturity on the 21st, ie last Monday but there was no interest in it. When I checked the following day, the interest had been paid and it had reverted to a basic savings account. That is when I transferred it out.

[Deleted User]

Thank you.