lloyds/tsb 6% account

LittleVoice

~Chameleon~ wrote: »

Is 0.0584 the right figure to use to calculate gross interest using Milarky's spreadsheet method?

Yes - that equals 5.84% which is the gross rate which equates to 6% AER.

AP

By adding the adjustment interest to the interest credited on 01/07/08, it is now spot on to the penny to my calculation. However, it does not appear to have the 'interest on interest' as mentioned by the branch cashier.

Geoffo_M

Mine's about 30p short but obviously not bothered over such a small amount. What amazes me is how a major bank can get something so simple so very wrong. Makes you wonder what else is going on that we don't know about!

Dick_here

This month I've got .07p interest ! :eek:

Anyone else been robbed by this bunch once again ?

MumofThree

I'm in the same situation. Received the additional interest due from upgrading to the 6% in August like the rest of you.

Now checked on-line today and only got a few pennies of interest this month. Has anyone rung yet to find out what's going on?

.....update
Just rung, customer services were initially unaware of a problem this month but on being passed through to a different department, they admitted there was a problem and it would be sorted. Obviously we will receive interest owed at some point!

Geoffo_M

MumofThree wrote: »

I'm in the same situation. Received the additional interest due from upgrading to the 6% in August like the rest of you.

Now checked on-line today and only got a few pennies of interest this month. Has anyone rung yet to find out what's going on?

.....update
Just rung, customer services were initially unaware of a problem this month but on being passed through to a different department, they admitted there was a problem and it would be sorted. Obviously we will receive interest owed at some point!

I'm in the same position as you. I've had just over £2k in my account all month and should have been credited over £9 in net interest. How much did I receive - just 57p! What a farce, especially in view of the mess last month

AP

By my calculation, they have done at 0.10% for the whole month, as if you have not paid in at least £1,000. My spreadsheet shows that I should have got £9.25 net interest - 5.84% less 20% tax but I got only 16p!

steady__eddie

Greetings, my interest is looking a bit sick this month. Zilch, zero, naffall to be precise. I wonder what's happened there then ? :rotfl:
It may of course be relevant to my a/c. omly and not a general thing.
Anyone else experienced any probs ?

Dagobert

There is a thread dedicated to TSB's interest problems: Lloyds Classic Plus 6% - is your interest correct this month?.

post #105 describes when interest should be paid. This month, it should be paid on 3rd November.

Biggles

Dagobert wrote: »

post #105 describes when interest should be paid. This month, it should be paid on 3rd November.

It's usually after the close of play on the first working day of the month, so I'm unsurprised to see nothing there yet.