Halifax Web Saver

dselas

Hi,

I was wondering if anyone could please offer me some advice regarding my Halifax Web Saver. I currently have 'healthy' sum of money which has been in a Web Saver account for the past 7-8 months. - Interest is paid annually.

It turns out I now need to withdraw this money to use as a deposit on a house - will I loose my interest for the period I have been saving and is there anyway I can salvage any of the interest?

Thanks in advance
D

Steve_xx

Don't worry. You will not lose any interest. Interest will be paid on all of the monies withdrawn upto the date on which it was withdrawn.

anniecave

The above comment assumes it is just a normal websaver. I am not sure if there are any fixed term websaver accounts where there is a penalty for withdrawing the money before the end of the term?

Steve_xx

The original poster did not mention that the account might be fixed term Websaver. If it is a fixed term account, then these conditions will apply:

Halifax Web Saver
If you choose a fixed rate Halifax Web Saver it is best to leave the account open until the end of the fixed term. If you do need to withdraw your money you can close your account as long as it's been open for three months. If you close your account early, you'll lose the equivalent of six days' interest for each remaining month of part month of the term (minimum of 30 days).

dselas

Thanks for your help guys.

I'm on a variable rate incidently.

Steve_xx

In that case, my original post #2 will apply and you will suffer no loss of interest.