We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Ulsterbank loyalty saver - where does the interest go when closing account

124»

Comments

  • VXman
    VXman Posts: 688 Forumite
    Sixth Anniversary 500 Posts Name Dropper
    edited 4 January 2025 at 7:20PM
    Got my interest today -very annoying. Far more than I was expecting and takes me to £1300  for the financial year so far. Will be getting more interest from other accounts in the next 3 months too. 

    I do dislike paying unnecessary tax! I feel I will need to take more care in the forthcoming year.
  • eskbanker
    eskbanker Posts: 40,935 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    VXman said:
    Got my interest today -very annoying. Far more than I was expecting and takes me to £1300  for the financial year so far. Will be getting more interest from other accounts in the next 3 months too. 

    I do dislike paying unnecessary tax! I feel I will need to take more care in the forthcoming year.
    Would you have obtained a better net return elsewhere?
  • flaneurs_lobster
    flaneurs_lobster Posts: 10,293 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    VXman said:
    Got my interest today -very annoying. Far more than I was expecting and takes me to £1300  for the financial year so far. Will be getting more interest from other accounts in the next 3 months too. 

    I do dislike paying unnecessary tax! I feel I will need to take more care in the forthcoming year.
    I'm earning somewhere North of £5k in savings accounts taxable interest this financial year. I don't worry about paying 20% tax on it because I'm keeping 80%.

    Assume you've maxed out any ISAs?
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.5K Banking & Borrowing
  • 254.4K Reduce Debt & Boost Income
  • 455.4K Spending & Discounts
  • 247.4K Work, Benefits & Business
  • 604.2K Mortgages, Homes & Bills
  • 178.5K Life & Family
  • 261.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture