Decent (hidden) fixed rate savers from the Halifax app - early closure permitted (with penalty)

Frequentlyhere

Has anyone else noticed that if you check savings accounts via the Halifax app, there are some 'preferential' bonus rates available that aren't visible on the website?

4.2% for a 1 year fix
4.3% for a 2 year fix

This is providing you've had a halifax current account for at least 40 days.

Not quite market leading, but close.  As an added bonus you can also close the 1 year account early with a 90d interest penalty and the 2 year early with a 180d penalty. Not plan A for anybody probably but not an option often given for leading rates.

p00hsticks

Frequentlyhere said:

Has anyone else noticed that if you check savings accounts via the Halifax app, there are some 'preferential' bonus rates available that aren't visible on the website?

They are also mentioned on the website under the 'fixed Saver' heading , but you need to click on the link to download the PDF to dertemine the rates  

https://www.halifax.co.uk/savings/accounts.html

'Do you already have a Halifax Personal Current Account which has been open for at least 40 days? You can get an exclusive rate (PDF 61KB).'

refluxer

That's odd - I've had Halifax accounts for years but the only fixed rate accounts advailable to me via the app are 2.8% for 1 year and 3.1% for 2 years.

Edit - looks like you need a Halifax current account, judging by the post above.

Frequentlyhere

refluxer said:

That's odd - I've had Halifax accounts for years but the only fixed rate accounts advailable to me via the app are 2.8% for 1 year and 3.1% for 2 years.

Edit - looks like you need a Halifax current account, judging by the post above.

Yes that's right - have amended my post to clarify.

kaMelo

Duh, edited because I can't read properly. They're not bad actually, especially the fact you can close the account if it becomes so uncompetitive.

Band7

Thanks for the heads up @Frequentlyhere. 

If you are eligible, have £5k spare (or less if you are already saving with Halifax/BoS, e.g. in Regular Savers) and fancy a flutter in the monthly Halifax Saver Prize Draw, one or both of these accounts could come in useful. 

flaneurs_lobster

Band7 said:

Thanks for the heads up @Frequentlyhere. 

If you are eligible, have £5k spare (or less if you are already saving with Halifax/BoS, e.g. in Regular Savers) and fancy a flutter in the monthly Halifax Saver Prize Draw, one or both of these accounts could come in useful. 

Probably not the primary reason for holding a Halifax saver but even so it would be good if they could provide some idea of the odds of winning a prize. 

Band7

flaneurs_lobster said:

Band7 said:

Thanks for the heads up @Frequentlyhere. 

If you are eligible, have £5k spare (or less if you are already saving with Halifax/BoS, e.g. in Regular Savers) and fancy a flutter in the monthly Halifax Saver Prize Draw, one or both of these accounts could come in useful. 

Probably not the primary reason for holding a Halifax saver but even so it would be good if they could provide some idea of the odds of winning a prize. 

As they don't pay the current top rate, I can't see any other reason why I would hold either of these two fixed rate accounts. YMMV

[Deleted User]

Band7 said:

flaneurs_lobster said:

Band7 said:

Thanks for the heads up @Frequentlyhere. 

If you are eligible, have £5k spare (or less if you are already saving with Halifax/BoS, e.g. in Regular Savers) and fancy a flutter in the monthly Halifax Saver Prize Draw, one or both of these accounts could come in useful. 

Probably not the primary reason for holding a Halifax saver but even so it would be good if they could provide some idea of the odds of winning a prize. 

As they don't pay the current top rate, I can't see any other reason why I would hold either of these two fixed rate accounts. YMMV

Very much so. 

Some people would prefer Halifax (either as an institution or their current account provider) 

For example - I've got a small reserve in an HSBC Online Bonus Saver for those very reasons.

Middle_of_the_Road

Frequentlyhere said:

Has anyone else noticed that if you check savings accounts via the Halifax app, there are some 'preferential' bonus rates available that aren't visible on the website?

4.2% for a 1 year fix
4.3% for a 2 year fix

This is providing you've had a halifax current account for at least 40 days.

Not quite market leading, but close.  As an added bonus you can also close the 1 year account early with a 90d interest penalty and the 2 year early with a 180d penalty. Not plan A for anybody probably but not an option often given for leading rates.

Just opened one of each of these. The 1 year is now market leading, and the two year only 0.05 behind Close Brothers.

With monthly interest, able to be paid into the regular saver or any other account and the option of early closure, these are good for anyone, like myself who prefers to save with traditional big names.

Just registered for the prise draw-

Every month, we give 1,603 customers the great news that they're a winner in the Savers Prize Draw.

Since 2011, we’ve given away over £75 million in prizes. If you've got at least £5,000 in your qualifying Halifax or Bank of Scotland savings accounts, you could be in with a chance of winning.

 What you could win

Savers Prize Draw

Every month, we give away: 

• 3 prizes of £100,000
• 100 prizes of £1,000
• 1,500 prizes of £100

BooJewels

@Middle_of_the_Road - can I just check that monthly interest can definitely be paid out to another account - the summary in the app just says that you can choose monthly interest, but may get a lower rate.  I'd initially discounted the account for that reason, as I like monthly interest paid elsewhere.

Presumably, as you've been through that process, you must have had to put in the details of such an external account as you applied?

ETA:  I've found this in the general T&C document on the web site:

Fixed Saver interest

• Is fixed for the term you choose. This means the interest rate can't change as you save. For your rate, see the interest 

rates leaflet or our website

• Is paid:

– either monthly or at the end of the term, if you choose to save for 3 or 6 months or for a year;

– either monthly or quarterly, if you choose to save for 9 months; or

– either monthly or annually, if you choose to save for 2, 3, 4 or 5 years.

Can be added to your Fixed Saver, or paid to another account