Lloyds 'Club Lloyds' current account - Rate reduction from 1st October 2020

colsten

fjones101 said:

Does anyone have the linked club saver? I opened mine in 2019 when the interest rate was fixed for 12 months (now gone down to 1.5%). I saved the max £4800 but only received £64 interest, they said that's because the interest is calculated on a daily basis not the end of year sum, which I didn't think was the case?

@fjones101, if you had a loan, you wouldn't expect to pay interest on money which you have already paid back, would you?. Equally, you can't expect to be paid interest on savings which you haven't yet deposited. For a detailed explanation how monthly/regular savers work, you can read this feature on the main site, and also use the calculator which you find there.