Halifax 6.88% AER Fixed for 3 months. Any good?

superstar_2

The rate has gone down!!

months - 1 year terms
Balance £500+
Term
AER
Gross pa
Net pa
3 months
6.26%
6.12%
4.90%
6 months
6.45%
6.35%
5.08%
9 months
6.45%
6.40%
5.12%
1 year
6.45%
6.45%
5.16%
2 - 5 year terms
Balance £500+
Term
AERGross paNet pa2 years[FONT=Arial, Helvetica]6.45%[/FONT]
[FONT=Arial, Helvetica]6.45%[/FONT]
[FONT=Arial, Helvetica]5.16%[/FONT]
3 years 6.40%
6.40%
[FONT=Arial, Helvetica]5.12%[/FONT]
4 years6.30%
6.30%
5.04%
5 years
[FONT=Arial, Helvetica]6.20%[/FONT]
[FONT=Arial, Helvetica]6.20%[/FONT]
[FONT=Arial, Helvetica]4.96%[/FONT]


I thought of putting about 5/6K in it but now it has gone down. Did anyone jump on to the boat?

My variable web saver pays 5.4% so is it worth it to get a fixed rate at 6.1% ?? Any advice?

Mikeyorks

superstar wrote: »

Did anyone jump on to the boat?

Yes .... had some left over money from a maturing BM bond. But can't have been far from the shore, when they reduced the rate so sizeably.

superstar wrote: »

My variable web saver pays 5.4% so is it worth it to get a fixed rate at 6.1% ?? Any advice?

Well as it's close to 0.75% up (3mths) and close to 1% for 6 months - I'd say it's well worth it if you're certain you don't need the money for that period. Takes about 5 mins from start / finish to set up the fixed period account online - if you're moving funds from the variable Web

superstar_2

Mikeyorks wrote: »

Yes .... had some left over money from a maturing BM bond. But can't have been far from the shore, when they reduced the rate so sizeably.


Well as it's close to 0.75% up (3mths) and close to 1% for 6 months - I'd say it's well worth it if you're certain you don't need the money for that period. Takes about 5 mins from start / finish to set up the fixed period account online - if you're moving funds from the variable Web

Thanks Mike, will have a thought about it later in the weekend. Say if i transfer 6K after 6 months, thats less tha 30 quid extra ... hmm ...

Mikeyorks

superstar wrote: »

thats less tha 30 quid extra ... hmm ...

...... which is not a bad rate of return - for 5 minutes work? Is probably the better way of looking at it.

superstar_2

Mikeyorks wrote: »

...... which is not a bad rate of return - for 5 minutes work? Is probably the better way of looking at it.

yup 5 mins - 30 quid, no bad eh? I am a student, although i dont need the money now, i may need them although the possibility is quite low. There is always a chance but my calculated possibility is close to nil, so i might get on with it. Thks Mike!