Halifax regular save 10% from last June

matthew74

Dear All

As these are going to mature shortly please all make sure you get the correct interest of 10% gross. I have just spoken to Halifax who seem to be under the impression I am only entitled to 4% or something. I am going in to sort them out this afternoon!

Please check when the fund matures.

hotkee

I had the regular saver nov 2004 to dec 2008, didn't think it was ever anywhere near 10%.

I closed mine in dec 2008 due to falling rates (peanuts) and re-opened a new one when they introduced the 4% one.

rb10

Matthew, if you opened it during the 10% period last year, and have met all the conditions (i.e. paid in £25-£500 per month) then you will get 10%, whatever the people in Halifax say.

4% is the rate you would get if you opened one now, but as it's a fixed rate account you will still get the 10% from last year. Don't worry, when the interest comes it will be right.

hotkee

Damn it, I missed this last year.

Matthew - just found this

http://www.hbosplc.com/media/pressreleases/articles/halifax/2008-06-05-HalifaxLau.asp?section=halifax

Could use it as evidence.

PS found that link here http://www.moneysupermarket.com/community/forums/t/new-halifax-regular-saver-10-or-12-22331.aspx

Ifts

Hi Matthew
I went in to Halifax branch yesterday and was told the new rate for regular saver is 4% as rb10 mentions in their post, maybe the person you spoke to quoted you the new rate.

matthew74

Thanks guys, I have found the website with the evidence - I think its just branch staff being stupid as usual!

ray123

Just ignore their waffle.
The website states that the interest rate is fixed for 12 months, which was 10% last June (I also opened one).
There are thousands of people who opened this account last year at 10% and there is NO WAY that halifax would get away with it.
The net interest should be around 200 pounds interest at 10% (rough estimate).
On the other hand, if the account pays out at 4% (which it wont), the net interest will be 100 pounds.
As they say, the proof is in the pudding!

opinions4u

ray123 wrote: »

The website states that the interest rate is fixed for 12 months, which was 10% last June (I also opened one).

10% rate applied to accounts first funded between 9th June and 21st July. (the rate is 12% if you maintained £5k+ in the linked account for the whole period).

There are thousands of people who opened this account last year at 10% and there is NO WAY that halifax would get away with it.

I don't think for a second they would ever try to 'get away with it'. They advertised that rate. I would expect them to maximise the publicity as they pay out the interest.

The net interest should be around 200 pounds interest at 10% (rough estimate).

Oh, I look forward to that on a £25 a month account. Yay me!

On the other hand, if the account pays out at 4% (which it wont), the net interest will be 100 pounds.

Oh, I'll take that for my £25 a month then!

I cannot believe some of the posts on here at times.

alared

Your interest if you make 13 payments at the full £500 a month should come in at about £350-14p

opinions4u

sloughflint wrote: »

Something has to be wrong here since 4 is not half of 10 but 100 is half of 200.

Not only that, but absolutely no reference to the amount saved. So presumably the poster believes you get a fix £ return regardless of the amount saved.

matthew74

Telephone girl was confused, I spoke to a sensible chap in branch who confirmed my account was yielding 10%.