Sainsburys Finance

[BobbyBobBob]

There is a Sainsburys Savings account where if you withdraw more than the 3 times allowed during the space of a year the higher interest rate drops to the normal rate.

If i've opened a savings account last year in July with a Interest rate of about 3.2% and recently withdrew an amount for the fourth time, then obviously the interest rate for the remainder of my savings would be at the lower rate.

What I would like to know is...........Would the money which has been made from the higher interest rate so far since July be affected with this withdrawal or will that stay the same. Or will it keep the money I've accrued from July last year to now with the higher rate of interest from savings and then from now until July this year use the lower rate of interest which I think is about 0.5%

Thanks

[dzug2]

quote

If you make 4 or more withdrawals or your account falls below £1,000 or goes above £100,000, during the 12 month period, the standard Online Saver interest rate will apply from the date of your 4th withdrawal, or the date your account falls below £1,000 or goes above £100,000 (whichever is earliest)

unquote