nush
Member of DD Central
Posts: 396 
Likes: 113
|
Post by nush on Jan 22, 2016 10:56:54 GMT
when is interest paid on loans in AC. with SS its paid on the first day of the month but dated last day of previous month, with MT i get paid monthly on the same date as the final payment of the loan. so how do AC do the paying bit. thanks
|
|
|
|
Post by chris on Jan 22, 2016 11:00:06 GMT
when is interest paid on loans in AC. with SS its paid on the first day of the month but dated last day of previous month, with MT i get paid monthly on the same date as the final payment of the loan. so how do AC do the paying bit. thanks Each loan has a repayment date based on their draw down date. If you look at a loan's details one of the tabs is the repayment schedule which will show you the dates. QAA is different and interest is paid on the 1st of each month via that account.
|
|
nush
Member of DD Central
Posts: 396
Likes: 113
|
Post by nush on Jan 22, 2016 11:02:15 GMT
thanks chris, you guys are always on the ball and ready to answer questions
|
|
|
|
Post by ogwellian on May 2, 2016 14:27:43 GMT
No April interest yet, is it paid on first working day of the month, i.e. tomorrow?
|
|
ben
Posts: 2,020
Likes: 589
|
Post by ben on May 2, 2016 14:31:21 GMT
if you read chris post two above yours it states that each loan date is different
|
|
|
|
Post by ogwellian on May 2, 2016 14:36:37 GMT
I have read above and it says the QAA is paid on the first of the month (not first working day), it's now the third day and nothing.
|
|
|
|
Post by barberbookie on May 2, 2016 14:36:40 GMT
QAA interest is paid on the 1st of the month
Not received QAA interest as of yet but presume that is because of the bank holiday
|
|
|
|
Post by ogwellian on May 2, 2016 14:49:05 GMT
Thanks for that, not just me then. I emptied it out on Saturday and put it in the new 30 day account to keep the 4.25%, so it ended the month on zero.
|
|
|
|
Post by barberbookie on May 2, 2016 14:54:46 GMT
I can only presume there is nobody around today to credit the interest.
Can anyone else shed any light on this.
Hopefully it will be credited tomorrow
|
|
jonah
Member of DD Central
Posts: 2,031
Likes: 1,113
|
Post by jonah on May 2, 2016 15:14:36 GMT
I can only presume there is nobody around today to credit the interest. Can anyone else shed any light on this. Hopefully it will be credited tomorrow Probably. The latest email from AC did say that they were shut for the bank holiday.
|
|
|
|
Post by chris on May 2, 2016 15:44:01 GMT
I'll trigger it now. It's still a manual process just to double check the figures each month, this was done on Friday but I wasn't around much in the last couple of days to process the payment.
|
|
|
|
Post by ogwellian on May 2, 2016 15:55:18 GMT
Thanks, Chris.
|
|
SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
|
Post by SteveT on May 2, 2016 16:30:14 GMT
I'll trigger it now. It's still a manual process just to double check the figures each month, this was done on Friday but I wasn't around much in the last couple of days to process the payment. The explanatory text in the QAA box could do with updating to remove the " 3.75% 4.25% (during April 2016)" reference as well.
|
|
