Halifax regular save 10% from last June

rb10

sloughflint wrote: »

Easy rough calculation for regular amounts is 6.5*0.1* monthly payment.

Multiply that by 0.8, unless you get gross interest.

opinions4u

Hi Slough - I got your drift big time.

Apologies for the way my post looked. It wasn't aimed at you!!

matthew74

And just to clarify if you put in 12 x £500 you should end up with about £6325 before any tax deductions.

Christa1

I was told my RS and that of DD was 7%, so just accepted that, following the posts on here I have just checked both our accounts and mine matures on 2 July and DD on 1 July. First payments to each acct was 2 July 08 and 10 July 08, does this mean we should be getting 10% and why were we told it was 7%? Also as I changed my SO date along the line to 29 of the month some payments haven't gone out till 1st of the month therefore although the mat date is 2 July I really need to make a payment on 1 July so this doesn't default but I am not sure how I make sure this happens, as I don't want to lose my interest. Any suggestions?

rb10

Christa1 wrote: »

I was told my RS and that of DD was 7%, so just accepted that, following the posts on here I have just checked both our accounts and mine matures on 2 July and DD on 1 July. First payments to each acct was 2 July 08 and 10 July 08, does this mean we should be getting 10% and why were we told it was 7%? Also as I changed my SO date along the line to 29 of the month some payments haven't gone out till 1st of the month therefore although the mat date is 2 July I really need to make a payment on 1 July so this doesn't default but I am not sure how I make sure this happens, as I don't want to lose my interest. Any suggestions?

Your accounts will be getting 10%, if those were the dates they were first funded.

You do not need to pay the money in during July this year - your final payment can be in June.

If you want to carry the Regular Saver on for another year, you'll probably want to get another payment in as soon as you can after 2nd/10th July.

Christa1

Well the thing is it looks at the moment as if a payment is missing and the one in July would be my twelfth, and I need to make a full 12 payments. I have already spoken to the bank and they say it's their responsibility to pay it but the one that goes out on 1st of the month is in fact for the month before- so I do need to make this don't I as I can't make 2 in June? Think I will move on to an ISA monthly payment rather than this at 4% before tax.

rb10

A payment is missing? What do you mean by that?

Provided that you made one payment of between £25 and £500 every month, with the first payment arriving in your Regular Saver between 1st and 28th of July 2008 and the last arriving at Halifax between 1st and 28th June 2009, then you will be fine, and will get the 10% rate.

EarthBoy

hotkee wrote: »

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.

I think the rate was about 7% before the 10% special offer came in last June, so it looks like you might have closed your account and opened a new one at a lower rate than you had before.

Christa1

The statement looks like this:
Opened 2 July with a pymentthen:
30 July SO for that month
29 August
1 October
31 October
3 Dec
31 Dec
2 Feb
4 March
1 April
1 May
So as you can see I need a payment in June and July to make the full 12. As I can't double payments for June what should I do?

apt

You've made 11 payments already so only need one more at the start of June. No point in making a 13th payment in July as the 10% rate will end on 2 July and the balance shifted to your nominated account.