TSB Classic Plus

Eco_Miser

dd95 wrote: »

but i don't have 500 to put in each moth

Yes you do! You have, presumably, £1500 sitting in the account. Just take £500 out and put it back in again. Or better, take £503 and pennies out and put £500 in, thus dealing with the interest.

Vortigern

dd95 wrote: »

i just meant will my salary being paid in qualify me for the 3%?

Yes, assuming your salary is £500 per month, or more.

do you know when the interest is paid as i tend to transfer out money to my savings as soon as my salary is paid in (;last friday of every month)

Interest is paid at the beginning of the month, but you will not earn current account interest on money that you've transferred out to savings. You'll only get the full amount of interest if you leave at least£1500 in the account for the whole month.

G_M

And if you are comparing current accounts there is a dedicated board here for them. This board is for savings (though you may simply be using this current acount,like others, as a savings account.

colsten

dd95 wrote: »

Also is the interest usually calculated month start or month end?

Interest is calculated daily, on the closing balance for each day. That's the case for all interest-earning accounts. For the TSB Plus, interest paid at the start of the calendar month, generally on the 1st working day (T&Cs state "Interest is paid by the 2nd of each month")