Help please- Halifax savings offer last year?

chris_p_bacon

I can't be sure of the details, do you remember? I'd really appreicate your help. I have banked with Barclays for over 20 years, but last July I noticed a poster on the Halifax window offering "new buisness deposits 5.8% for next 12 months" at least thats what I understood. So I moved my money, but it seems I am now on a varible rate getting next to nothing in interest.

Can anyone remember the deal I'm talking about or have I got it wrong?

Many thanks for your time.

Chris.

opinions4u

It was a variable rate offer linked to Bank of England rate.

Which dropped like a stone.

The product is a Bank of Scotland one.

ffacoffipawb

opinions4u wrote: »

It was a variable rate offer linked to Bank of England rate.

Which dropped like a stone.

The product is a Bank of Scotland one.

I have a HBOS 5.8% fixed rate, instant access, fixed until 30 November 2009 (one year term). Pays monthly interest so I can see that I am still getting this rate (rate shown on account summary page anyway).

opinions4u

ffacoffipawb wrote: »

I have a HBOS 5.8% fixed rate, instant access, fixed until 30 November 2009 (one year term). Pays monthly interest so I can see that I am still getting this rate (rate shown on account summary page anyway).

As a business account? Doubt it.

OP - please name the account you have!!

Money_Grabber13579

opinions4u wrote: »

As a business account? Doubt it.

OP - please name the account you have!!

What do you mean? I know someone who has this kind of account as well, only it was fixed at 6.5% for 6 months. They are with the BoS.

opinions4u

The OP refers to:

"new buisness deposits 5.8% for next 12 months"

The accounts you are referring to are personal accounts, not business ones.

I too have an IASA Reward (6.5%) and a Guaranteed Saver Reward (6%) that I smuggly enjoy!

chris_p_bacon

yes, thanks for all the replies. It looks like I must have got it wrong. I was sure at the time I was fixing for 12 months at 5.85%, but it must have been .25 over base that was fixed, (but in the small print) Its very annoying I lost the booklet.

Money_Grabber13579

opinions4u wrote: »

The OP refers to:



The accounts you are referring to are personal accounts, not business ones.

I too have an IASA Reward (6.5%) and a Guaranteed Saver Reward (6%) that I smuggly enjoy!

I know the deposit I mentioned earlier definitely was a business deposit in an account for 6.5% for 6 months. I'm most sure of this. It is controlled by the bank of Scotland. I still don't understand why you say the OP can't have had a business account.

Some of them were also instant access up to a point - I think you could transfer up to half the money out before the term was complete.

ffacoffipawb

opinions4u wrote: »

As a business account? Doubt it.

OP - please name the account you have!!

Oops. Note to self. Read posts properly before replying.

BOS did have a total business account which paid Base Rate + 0.5% for a year, followed by Base - 0.5% for 2 more years. The latter is now, of course, zero!

See http://forums.moneysavingexpert.com/showpost.html?p=10768669&postcount=148

or

http://boards.fool.co.uk/Message.asp?mid=11098974

The link www.totalbusinessaccount.co.uk no longer works, so the account may no longer be available.

opinions4u

Money_Grabber13579 wrote: »

I know the deposit I mentioned earlier definitely was a business deposit in an account for 6.5% for 6 months. I'm most sure of this. It is controlled by the bank of Scotland. I still don't understand why you say the OP can't have had a business account.

Some of them were also instant access up to a point - I think you could transfer up to half the money out before the term was complete.

What you have just described is different to what the OP described though.

Different rate, different term, different access conditions.

That's why.