Halifax Cutting Rates from 1/12/08

alared

Saving rates being chopped from Monday.:mad:

cocktail

alared wrote: »

Saving rates being chopped from Monday.:mad:

wasnt this expected as it will be a phenomenon across the banks in december, after the base rate cut.

[Deleted User]

oh bother. Any idea of the new rates?

darude

My guess is at least 1.5% drop. Yorkshire's Building Society's easy access is dropping from 3.15 to 1.45%, Natwest's ISA is dropping from 6.15 to about 4.5. Went into the branches to checked today. Drastic interest drops everywhere starting from Monday.

Dave_®f©

Just my luck! 7% fix ending on the 2nd of January with a good few £k in it and looks like the rates will be crap across the board by that time.

alared

High interest current account paying in £1k a month is dropping from 5.12% to 2.5% on first £2.5k

Websavers down from 5.5% to 4%,depending which version you have (reward,extra,without card)some are going lower than that.(with card)

List in todays Express

If the BoE cuts rates again next Thursday,savings rates will be chopped agian on 1st Jan 09.
We`ll be getting buttons!!!!!!!!!!!!!!

rb10

All their rates are down by a lot. Guaranteed Saver (the variable rate version only) and ISA Saver Direct both down to 3.0%, I think the Save4It is at 3.55%.

And the accounts that were always paying low rates are now paying REALLY low rates, e.g. Instant Saver was up to 1.47% (depending on balance), now is well below 1%.

Alared says in the post above that the web saver reward rate is going down - no, this is a fixed rate, and the account will only be available up until close of business on Monday, so this rate does not drop. But the other web saver rates (which depend on if you have a card & the balance) will all drop.

Also, not only the High Interest Current Account will have its rate dropped from 5.12 to 2.5%, but also the Ultimate Reward.

10_66

sloughflint wrote: »

Daft question but where are people getting all these new rates from? The websites don't seem up to date.

Not sure where others are getting info from, but one website that anounces rate changes is HERE.

opinions4u

Dave_®f© wrote: »

Just my luck! 7% fix ending on the 2nd of January with a good few £k in it and looks like the rates will be crap across the board by that time.

You could be right.

Why not book yourself 5% fixed for a year from now by sticking £50 in a Halifax Web Saver Reward and adding your January proceeds to it if other rates have dropped further?

Needs to be opened and funded by close of business Monday.

[Deleted User]

Anyone know what the rate of the BOS IASA with cash card is dropping too?

SGE1

opinions4u wrote: »

You could be right.

Why not book yourself 5% fixed for a year from now by sticking £50 in a Halifax Web Saver Reward and adding your January proceeds to it if other rates have dropped further?

Needs to be opened and funded by close of business Monday.

So you're saying the fixed rate web saver needs to be funded by close of business Monday? Where did you find that out?