Lloyds BOS current account interest

P3

With the rate reduction in Marcus. I will now have £5000 in the current account along with 2DD starting in June. Will I get interest in July?

colsten

P3 said:

With the rate reduction in Marcus. I will now have £5000 in the current account along with 2DD starting in June. Will I get interest in July?

I am not sure which account you are talking about but if you hold the Club Lloyds and/or the BOS Vantage account and meet their respective T&Cs, you will receive interest. 

That is true independent of the Marcus rate reduction.

fenwick458

what have marcus and Lloyds / BOS got in common? 

General_Grant

fenwick458 said:

what have marcus and Lloyds / BOS got in common? 

They both pay interest!
But it has to be remembered that the top interest on the Club Lloyds account is paid only on the £4K-£5K amount and it is lower on the amount below £4K. 

YorkshireBoy

fenwick458 said:

what have marcus and Lloyds / BOS got in common? 

The underlying Marcus rate falls to 1.05% at the end of this month. If you didn't renew the bonus last year you'll make more with Lloyds/BoS at 1.2% providing your balance is £4-5K. For those of us that did renew the bonus (mine runs to mid-Aug) there's nothing really in it...yet.

P3

Sorry I should have been more clear, I understand they are separate, I am mainly asking about BOS/Lloyds, cos I understand it, the interest are payable one month after you are qualify for the interest, 
Ie July interest = June daily balance at 1.2% (5k) plus pay out 2 different DD

YorkshireBoy

P3 said:

Sorry I should have been more clear, I understand they are separate, I am mainly asking about BOS/Lloyds, cos I understand it, the interest are payable one month after you are qualify for the interest, 
Ie July interest = June daily balance at 1.2% (5k) plus pay out 2 different DD

Your question was perfectly clear. In a nutshell you asked "If I comply with the account conditions will they pay me the interest?"
The answer is obviously yes, as was provided in the first reply.

The interest payment date and schedule are both shown in the respective account conditions. If you've missed this have you also missed the fact you need to credit the accounts with an amount each month? Have you missed anything else?

badger09

I wonder if OP is confusing the T&Cs (for interest) on Club Lloyds & BoS Vantage accounts with the new T&Cs for Halifax Reward account?  

General_Grant

badger09 said:

I wonder if OP is confusing the T&Cs (for interest) on Club Lloyds & BoS Vantage accounts with the new T&Cs for Halifax Reward account?  

No - because they mention the DDs which will no longer be a feature for the new Halifax account.

colsten

General_Grant said:

badger09 said:

I wonder if OP is confusing the T&Cs (for interest) on Club Lloyds & BoS Vantage accounts with the new T&Cs for Halifax Reward account?  

No - because they mention the DDs which will no longer be a feature for the new Halifax account.

More to the point, Halifax Reward doesn't pay any interest, and OP's question was whether they'd get interest.

Although neither reasons would preclude misunderstandings 

badger09

Another possibility has just struck me
@P3 if you meet all the T&Cs of the Club Lloyds & BoS Vantage accounts, you will receive interest, calculated on the daily balance up to £5k. This is credited by the second working day of the following month. So interest earned in June will be credited by 2nd July.

Do I get a prize?