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Withdrawal from monthly saver account

  • 06-02-2019 10:31am
    #1
    Precedens
    Registered Users, Registered Users 2 Posts: 37 ✭


    Hi, could you tell me if, let's say, I want to withdraw from my saving account after 4 months, will I still get accrued interest, or is it only applied after anniversary of opening it? Also, is this a compound or simple interest, if compound, how often is this interest added to the account? Thank you.


Comments

  • #2
    Bank of Ireland: Alison
    Closed Accounts Posts: 1,060 ✭✭✭Bank of Ireland: Alison


    Hi Precedens

    Thanks for coming to us here with your query today.

    We're going to check this out for you and we'll be back to you with some answers.

    Many thanks
    Alison


  • #3
    Bank of Ireland: Alison
    Closed Accounts Posts: 1,060 ✭✭✭Bank of Ireland: Alison


    Hi Precedens

    If it's the 365 Monthly Saver Account you have with us, compound interest is applied and it accrues daily on the account.

    The interest is added daily although credited then on the anniversary of the account. If you decide to close the account, the daily  interest amount you have accrued to date will be paid upon closure.

    Hope the information helps,

    Many thanks
    Alison


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