Monthly interest into Bank of Scotland ISA

[Deleted User]
[Deleted User] Posts: 0 Forumite
10 Posts First Anniversary
edited 2 May 2024 at 8:32PM in ISAs & tax-free savings
I opened a new Bank of Scotland ISA and ticked for monthly interest to go back in to the ISA.  I have not been able to find the answer for myself (when the monthly interest is added to my ISA) and I telephoned Bank of Scotland today.

The person I spoke to did not know the answer and suggested that, if the interest has not gone in by  the middle of next week, I should telephone again.

If anyone here has this Bank of Scotland ISA with monthly interest would you please let me know?  I opened the new ISA on 3rd April and added money for the first time on 6th April as soon as the new ISA year started.  Although I could not find the information I thought the interest would be added on the 1st of every month but, so far, I have not been able to find out.

Thank you.

Comments

  • JGB1955
    JGB1955 Posts: 3,792 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    Which ISA is it?  

    Summary box for the Advantage ISA Saver

    • Earn 4.00% AER/3.93% tax free variable monthly on balances from £1 if 3 or less withdrawals are made in the 12 months after opening.
      Earn 1.35% AER/1.34% tax free variable interest on balances from £1 if 4 or more withdrawals are made in the 12 months after opening. This lower interest rate will apply from the month you make the 4th withdrawal until the end of the account year.

      Interest is paid monthly, on the same date you open your account.


    #2 Saving for Christmas 2024 - £1 a day challenge. £325 of £366
  • [Deleted User]
    [Deleted User] Posts: 0 Forumite
    10 Posts First Anniversary
    edited 6 May 2024 at 5:05PM
    Thanks very much JGB1955.  It looks as if the interest may be in tomorrow as I opened the account on 3rd April.   My ISA is:   "Fixed Cash ISA 1 Year - Monthly" but they will probably have interest paid in the same way.

    Thank you for replying JGB1955.  I'll post again tomorrow.

    Update:  Interest was added on 3rd May (the day I opened the ISA although I did not fund it until 6th May.)  I was able to see the interest on 4th May.


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