Halifax fixed rate fixed term websaver (3mth to 5yr term)

ashm1

Hi,

http://www.halifax.co.uk/savings/phoneweb_websaver.shtml

Why the differing terms ?

I have maxed out my ISA allowance for the year so 6mth term might be an option.



Kind regards,

Ashley.

Save&Spend

Do you means the interest rates are different for differing terms?

regularsaver1

The interest rates depend on how long the money is left there

some people might like 3 months rather than a year depending on what they have been saving for

ashm1

regularsaver1 wrote:

The interest rates depend on how long the money is left there

some people might like 3 months rather than a year depending on what they have been saving for

How long does a rate rise take to be passed on ? (Im in the 4.75% websaver but this could be only 0.2% difference for the 3mth)

Do you think there will be another round of pre-emptive rate rise products ?


Kind regards,

Ashley.

baldbloke_2

ashm1 wrote:

How long does a rate rise take to be passed on ? (Im in the 4.75% websaver but this could be only 0.2% difference for the 3mth)

Do you think there will be another round of pre-emptive rate rise products ?


Kind regards,

Ashley.

Who can honestly say what will happen. This is the 'risk' you take with fixed term savings. But with the Websaver 3 month option at 5.20% AER and 4.08% net you will at least be getting that rate from the moment you open the Websaver - and there would need to be two base rate rises of 0.25% taking effect within the 3 month period to overtake your variable rate saver by the end of a relatively short period.

And that ain't going to happen ... probably ...

adonis

I have tried to open a fixed web saver account, but as i only have a credit card with them they will not let me, unless i open a flexible web saver account with them as well.
If they do not want my savings without giving me hassle then i shall keep my money elsewhere. :mad:

regularsaver1

You can not have a fixed rate websaver without having a variable instant access one - it has always been that way

you can open up a variable for £1 though adonis so why is that a problem - you need somewhere for the money to be transfered to after the fixed rate perios ends