Halifax Regular Saver - rate increase

Patrington

Creating this thread to limit the inevitable - how do I apply/renew chat away from the Regular Saver thread.

From previous experience I'd expect a Wednesday/Thursday launch.

ranciduk

How do you know this?

ForumUser7

ranciduk said:

How do you know this?

I think it's a guess/prediction based off the fact that Lloyds/BoS increased 18th October 2022, then Halifax followed suit 25th October 2022

AndyTh_2

I accidentally renewed mine early with the other lloyds/bos ones thinking it had increased, so I'm also now waiting

Expotter

Are we still waiting/hoping Halifax will increase the rate on its regular saver? 

Patrington

I am

Overnight tonight anyone?

aaj123

The Halifax product is different from the Lloyds / BoS ones. Halifax one doesn't allow access to the savings in the account without closure of the Regular saver while the other two do. You would have thought this justified a higher interest rate rather than lower.

Bridlington1

aaj123 said:

The Halifax product is different from the Lloyds / BoS ones. Halifax one doesn't allow access to the savings in the account without closure of the Regular saver while the other two do. You would have thought this justified a higher interest rate rather than lower.

Though Halifax will have a different set of customers to Lloyds or BOS. They will only raise the rate if they think they will get more money out of us for doing so. It could simply be a case of them not having the financial incentive to raise now. I suspect they will go up soon though.

In my case I'm already nearing the 5 months in mark so unless they go up significantly I will probably end up sticking at 4.5% anyway.

Patrington

Now showing.

5.5%

https://www.halifax.co.uk/savings/fixed-term/regular-saver.html

subjecttocontract

I opened the regular saver at 4.5%. I assume it's not going to automatically increase to 5.5% ? So, do I need to close my 4.5% a/c and open a new one or am I stuck on 4.5% until the 12 months is up ?

flaneurs_lobster

subjecttocontract said:

I opened the regular saver at 4.5%. I assume it's not going to automatically increase to 5.5% ? So, do I need to close my 4.5% a/c and open a new one or am I stuck on 4.5% until the 12 months is up ?

There's a big ol' thread about this here

https://forums.moneysavingexpert.com/discussion/6428126/lloyds-bank-of-scotland-halifax-regular-monthly-saver-limits/p1

You can "swap" to a new, higher rate, account but you need to consider the funds that are in the 4.5% account, since you can only fund the new account with £250 initially.