NatWest Regular Saver Interest Payment

GlasgowExpat2

I pay £150 p/month into the above account which is due to end next month. This month I received less interest than last month

01/09 - interest of £7.82 on balance of £1533.88
01/08 - interest of £7.95 on balance of £1375.93

why?

RG2015

GlasgowExpat2 said:

I pay £150 p/month into the above account which is due to end next month. This month I received less interest than last month

01/09 - interest of £7.82 on balance of £1533.88
01/08 - interest of £7.95 on balance of £1375.93

why?

The interest changes if the month end is a weekend. However mine increased quite a bit this month compared with the payment on 4 August. Not sure why yours is lower.

Also it does not end after a year, it goes on forever although the rate drops off at £5,000.

RG2015

£1,533.88 x 6.00% x 31 / 365 = £7.82
£1,375.93 x 6.00% x 29 / 365 = £6.56

July is only 29 days because the 1st and 2nd July were weekend days which would have been added to the payment on 3 July.

Perhaps the difference on the 4 August payment is an adjustment from a prior month.

Jami74

GlasgowExpat2 said:

I pay £150 p/month into the above account which is due to end next month. This month I received less interest than last month

01/09 - interest of £7.82 on balance of £1533.88
01/08 - interest of £7.95 on balance of £1375.93

why?

What day in the month did you put the £150 in? I always put in the first and here's my interest for the last 3 months:

01/09 £13.27
01/08 £11.64
01/07 £12.00

GlasgowExpat2

Jami74 said:

GlasgowExpat2 said:

I pay £150 p/month into the above account which is due to end next month. This month I received less interest than last month

01/09 - interest of £7.82 on balance of £1533.88
01/08 - interest of £7.95 on balance of £1375.93

why?

What day in the month did you put the £150 in? I always put in the first and here's my interest for the last 3 months:

01/09 £13.27
01/08 £11.64
01/07 £12.00

The initial payment was made on the 31st of the month and the following payments on the 1st