Northern Rock - Interest due

T

thewatcher

Guest
Checked my account(annual interest) there the other day and my jan interest has already been paid to my account.Yet last year i didn't get anything paid till Dec (6 months interest).
I checked the rate and it was at the 4.15%.
Has this happened to anyone else ?
 
Not on my account. Last interest credited was in December in respect of interest earned in 2006. Did you switch to monthly payment of interest by any chance? Did you make a withdrawal and they credited interest for the withdrawn amount perhaps? Maybe send them a query via their secure email system on the site when you're logged into your account?
 
Never touched the account apart from wiring money into it and checking it the odd time,but jan interest has definitely been paid into it at the annual rate.Yea,sure I'll email them over the weekend.
 
Clubman, am I right in thinking that the 4.15% interest only applies where you opt for annual interest to be credited in December i.e. once a year. If you opt for monthly additions of interest to your account the rate of interest is lees - approx 3.90%??
 
Yes - opting for monthly payment of interest means that you get an CAR of 0.25% less than annual payment. No reason to opt for monthly unless you really need a monthly income supplement.
 
Just checked my account. Interest is paid anually, at 4.15%.
Last interest payment was on 31/12/06 for the yesr 2006.

What do you see if you click on the "interest details" button ?

Could it have been an adjustment/correction to 2006 interest ?
 
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