Halifax 7% 3 months

opinions4u

YorkshireBoy wrote: »

You didn't get as far as condition 13.6 then?

13.6 states:

If you have a fixed rate option the interest
rate will not change during the term of your
fixed rate option. If you have a variable
rate option and/or Web Saver Extra we can
change interest rates, if it is reasonable to
make the change.

If you choose a fixed rate, the rate will not change!! Shocking!

Lokolo

As I am not a current Halifax customer I now have to wait a week before I can open the fixed account as I have to open the variable on first.

Any way I can hurry this up?

BiggaThanBen

I would not go for this one. Likely you will be better off taking a slightly lower interest but longer term product ... there could be a situation where you will not find anything near this rate in 3 months.

V8A

Also its 7% AER which works out to be 6.82% Gross for the 3 months.

Perhaps Halifax should make that a bit clearer.

Baldur

V8A wrote: »

Also its 7% AER which works out to be 6.82% Gross for the 3 months.

Perhaps Halifax should make that a bit clearer.

How much clearer than specifying the gross rate in their interest rates table can they be?

opinions4u

V8A wrote: »

Also its 7% AER which works out to be 6.82% Gross for the 3 months.

Perhaps Halifax should make that a bit clearer.

How about this for an advert then:

HALIFAX THREE MONTH BOND
1.705% GROSS INTEREST PAID FOR THE THREE MONTHS
WOULD BE 6.82% GROSS FOR A YEAR IF IT LASTED A YEAR BUT IT DOESN'T
The law requires us to state an AER in equal size to any other numbers, but we want to do something naught and illegal so we will barely mention the 7% gross AER event though we have to.

opinions4u

V8A wrote: »

Also its 7% AER which works out to be 6.82% Gross for the 3 months.

Perhaps Halifax should make that a bit clearer.

How about this for an advert then:

HALIFAX THREE MONTH BOND
1.705% GROSS INTEREST PAID FOR THE THREE MONTHS
WOULD BE 6.82% GROSS FOR A YEAR IF IT LASTED A YEAR BUT IT DOESN'T
The law requires us to state an AER in equal size to any other numbers, but we want to do something naught and illegal so we will barely mention the 7% gross AER event though we have to.

alared

The BoE will cut interest rates to try to help the recession but the banks will still need funds from savers and so we could end up with a situation where mortgages and saving rates are NOT aligned to the BoE official rates.
(as has already happened with mortgage rates)

If you feel rates are going to fall dramatically,there is a 9 month and 1 year fix @ 6.5% or a 6 month @ 6%

EalingSaver

Umm, I thought they had a 6 month at same rate a few days ago? Did they drop thta or was I imagining.

Not sure I can be bothered for 3 months, but would have been interested in 6 months

Baldur

EalingSaver wrote: »

Umm, I thought they had a 6 month at same rate a few days ago? Did they drop thta or was I imagining.

Yes, the 6 month rate was dropped by 0.97% on 24th October https://www.emoneyfacts.co.uk/news/savings-news.aspx?newsarticleid=176881