Halifax Reward Current Account

deckhanddave

Hi folks

I don't know if this has slipped under the radar but the above account deposits £5.oo net of tax into the account every month, in arrears, for every month that you have a deposit of £1000.00 made into it. You can also have a maximum of three of them. That means £15.00, net of tax, every month for just having a £1000.00 go into it. No catch as I can see. I've opened three with the same £1000.00 going from one to the other and back to where it started in the first place. As an interest rate, an annual £180.00 for doing nothing is pretty good. Check it out, I've done it and can't find any negative clause.

Regards

Dave :beer:

rb10

It most certainly hasn't slipped under the radar.

This board is for Savings And Investments. There is another board on this forum called Budgeting and Current Accounts, which is where this account fits in, as it's a current account. If you look on that board you'll see it's been discussed at length, in about a zillion threads.

deckhanddave

Hi rb10

I took a look and yes you're right. However, I just approached it from a savings point of view. I'm no math guru but 18% return pa, net of tax seems like a good savings plan. As such, I think it worthy of a mention on this board as a matter of interest to those looking for some sort of return on their money. I can't find any other savings account near that return for a £1000.00 and no high risk investment.

Regards

Dave