Club Lloyds Monthly Saver - when best to pay in?

dllive

Hi

Ive just created a Club Lloyds Monthly Saver account. I plan to make £400pm payments.

My question is, now its open halfway through a month, when should I make my first payment - and then subsequent payments each month to make the most of getting interest, and not contravening their T&Cs?

Should I make a £400 payment today (14th), and then £400 on the 14th of each subsequent month?  Or shall I make £400 payment today, then £400 on the 1st of each subsequent month? Or something else?

Thanks

jimjames

£400 now and then 1st. Sooner the better to get the money in

dllive

jimjames said:

£400 now and then 1st. Sooner the better to get the money in

Ah I see, There T&Cs say no more than £400 per calendar month? (I must have misread their web page)

Middle_of_the_Road

dllive said:

jimjames said:

£400 now and then 1st. Sooner the better to get the money in

Ah I see, There T&Cs say no more than £400 per calendar month? (I must have misread their web page)

That means you can pay in on any day of each month. They recommend before the 25th to avoid a standing order not being paid out due to bank holiday/wekends etc.

PRAISETHESUN

As above, pay in the first month's payment ASAP, and then every month on the 1st - this will maximise interest. And because you've opened it mid-month, make sure you make a 13th payment in Dec 2024

dllive

Thanks guys, Ive now done this.