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Halifax Guaranteed Saver 6.25% (?)
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bellybuttonfluffman
Posts: 47 Forumite
This may be of interest to anyone who has an existing Halifax Guaranteed Saver account.
In July 2008, I opened a Halifax Regular Saver account and have been feeding it £500.00 every month. At the time, I also opened a Halifax Guaranteed Saver account with £5000.00. The guaranteed saver has been (and still is) earning interest at 6.25% AER.
Anyhow, today a Halifax employee told me that any extra dosh deposited into the guaranteed saver account will also earn 6.25% interest (until the maturity date - July 2009 in my case). I've now loaded up the account in the hope that the Halifax guy hasn't given me duff info.
In July 2008, I opened a Halifax Regular Saver account and have been feeding it £500.00 every month. At the time, I also opened a Halifax Guaranteed Saver account with £5000.00. The guaranteed saver has been (and still is) earning interest at 6.25% AER.
Anyhow, today a Halifax employee told me that any extra dosh deposited into the guaranteed saver account will also earn 6.25% interest (until the maturity date - July 2009 in my case). I've now loaded up the account in the hope that the Halifax guy hasn't given me duff info.
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Just make sure you don't do more than 1 withdrawal in the year or else you won't get the full 6.25%!0
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That is correct, with all Guaranteed Saver accounts. An unlimited number of additional deposits can be made during the year, and all the funds will earn the full rate of interest, so in your case 6.25%.0
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Thanks for this info - very useful reminder now that rates have fallen so low.0
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Good. I have these too. This will be a useful home for my savings once my Coventry 50+ a/c at 6.4% comes to an end in April. No plans to withdraw from my Halifax before maturity. I wonder what the rate will be in July. LOL0
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Thanks for the reminder. I did the same as the OP in July.
I have £5K in the AA savings but will move it now.0 -
And to keep the up reminders and complications:
Halifax Guaranteed Saver Reward opened in November allows 4 withdrawals pa without loss to the 6.0% til anniversary, min bal £2500 and depositor must fund a qualifying current account with £1000 pm (but you can move it in, then out, and back in and out following month, ad infinitum). Additional deposits are allowed & it's ready and waiting in preparation for my maturing FTBs.
And a reasonable rate of 2.75% (?) on the current a/c too....at the moment.0 -
Bellybuttonfluffman:
I assume the Reg Saver account you opened was the one that was 12.5% fixed at the time?0 -
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Sorry, I think it was 12% in my case, not 12.5%.
By the way, at the time of the account being opened I'm sure that I was told that the account was The Guarenteed Saver, but if no withdraws it became The Guarenteed Saver Reward, which made it up to 6.25%.
As a double-check, when you access this account online it should say the interest rate you are getting on it.
What were the methods of deposting extra money into this account?
Was it cheque or cash only?0 -
The account will pay 6.25% for 12 months or, if sooner, until you break the conditions (e.g. go below £2,500 or have a second withdrawal).Sorry, I think it was 12% in my case, not 12.5%.
By the way, at the time of the account being opened I'm sure that I was told that the account was The Guarenteed Saver, but if no withdraws it became The Guarenteed Saver Reward, which made it up to 6.25%.
As a double-check, when you access this account online it should say the interest rate you are getting on it.
What were the methods of deposting extra money into this account?
Was it cheque or cash only?
You can deposit in branch or via automated systems such as bacs, chaps, faster payments, or online from your other accounts.
To keep the 12% on the Regular Saver, you need to maintain £5,000 in the Guaranteed Saver Reward account, and keep it there even if you've broken the withdrawal conditions.0
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