Halifax Regular Saver rate now 5% 17/07/09!

ctdctd · 16 July 2009 at 4:42PM

As per the title, up from 4% to 5% for new accounts from 17th July.

http://www.halifax.co.uk/savings/regularsaver.asp

Halifax Regular Saver

Save between £25 and £500 every month for 12 months by standing order and get a rate of 5.00% AER fixed for a year.

Minimum/maximum balance - just save any amount between £25 and £500 every month by standing order. For example - save £500 every month and earn £129.53 gross (£103.63 net) interest after 12 months
No hassle - simply set up a standing order so the payment is automatically paid each month (must be on or before the 28th of each month)
Flexible - you don't have to save the same amount each month. You can save from £25 up to £500 - simply change your standing order to suit you
No withdrawals or missed payments - during the 12 months otherwise this account will close. The money you've saved (plus any interest - which will be paid at current Halifax Web Saver - without cash card rate) will be transferred to a nominated Halifax/Bank of Scotland savings account
Manage your account - in branch, by phone or online
Applying is easy - it takes 5 minutes to apply online, or pop into branch or call us on 0845 601 8150

1 year fixed rate set when opening credit received and on the anniversary of that date.

jcb208 · 16 July 2009 at 5:42PM

Just tried to open this account paying 5% but will not let me as I have opened the 4% account last month.So looks like your only allowed 1 account :mad:

ctdctd · 16 July 2009 at 5:47PM

jcb208 wrote: »

Just tried to open this account paying 5% but will not let me as I have opened the 4% account last month.So looks like your only allowed 1 account :mad:

Phone them up and close the 4% account and they will move the funds to your nominated account. Then move the funds back to your current account and open the 5% account tomorrow.:T

That is what I am doing - will add an extra £25 to the interest on a fully funded RS over the year - even allowing for the loss of interest on £500 for a couple of weeks. If you opened your 4% account in May, you may lose another couple of pounds interest or so but still worth it!

Dagobert · 16 July 2009 at 8:43PM

What's the experience with phone applications? How long does it take them to open the account?

ctdctd · 16 July 2009 at 8:50PM

Dagobert wrote: »

What's the experience with phone applications? How long does it take them to open the account?

It took about 2 minutes to close the old account - well, 1 minute to close the account and the other to explain to the nice lady where I saw the 5% rate on their site.:D

The closure happens overnight and is not showing online yet so I will open the new one online tomorrow which should give an instant account number and sort code. If not, I'll call again.

RayWolfe · 16 July 2009 at 8:52PM

My RS expired 2nd July; last payment made 3rd June; 6K + interest transferred to nominated account. RS now shows zero.
I think I'm right that if I transfer £500 to the existing account after 17th July but before 28th the old account will get reinstated at 5% without me having to open a new one.
Is that correct?

ctdctd · 16 July 2009 at 9:06PM

RayWolfe wrote: »

My RS expired 2nd July; last payment made 3rd June; 6K + interest transferred to nominated account. RS now shows zero.
I think I'm right that if I transfer £500 to the existing account after 17th July but before 28th the old account will get reinstated at 5% without me having to open a new one.
Is that correct?

Yes, I think so as the lady @ The Halifax checked to see when my July deposit was made before she closed the 4% account. She said if it was due to arrive July 17th or later it would get the new rate.

Sam37 · 16 July 2009 at 9:16PM

I did some explaining to a surprised Halifax employee too (thanked me for the tip!)

Newly_retired · 16 July 2009 at 9:18PM

Thanks for that. I have recently re-started mine at 4% so I'll be on the phone in the morning.

td_007 · 16 July 2009 at 11:26PM

Same here....out with 4% in with 5%. I have 2 month worth in the 4% a/c

OnlyMe_08 · 16 July 2009 at 11:56PM

Hi

My regular saver has recently renewed from 12% to 4%. So if I called in tomorrow to close this account, and apply / open the 5% account, will I lose any interest earned (which in itself is negligble - under 10 days - under 50p?).

Also, how could I maximise the interest earned if my first deposit is say 18.07.09? For the remaining 11 payments (£500?), should this be set up for the 1st of the month?

My calculations will give around £10 more interest - am I correct?

Halifax Regular Saver rate now 5% 17/07/09!

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