savings penalties

[mizi]

I have a large amount of savings in a high interest account but if i withdraw any amount out then i lose the interest for that month.I get the interest on the 1st of the month,if i was to withdraw ALL the money from this account on the 2nd off the month would i only lose 1 days interest.The interest rate in this account has dropped and i would now like to move it into a bond.

[dzug]

Difficult to tell without reading the precise T&C- do you lose a month's interest for a withdrawal, or the interest for the month in which you withdraw?

If your description of the account is precisely correct, then you are right - but check carefully first.