Halifax Reg Saver 8% - no idea where to open one !

QS888

Thanks everyone - glad its not just me. I've also been on the Lloyds site - and for their Regular Saver you must be a current account holder. I will try again later tonight / tomorrow to see if they fix the glitch.

JGB1955

I have a Halifax Credit Card and have just been able to open the RS via the app.

kaMelo

https://forums.moneysavingexpert.com/discussion/comment/82069138#Comment_82069138

Yes, unlike the Bank of Scotland and Lloyds, you can open the Halifax regular saver as a standalone account.

Middle_of_the_Road

https://forums.moneysavingexpert.com/discussion/comment/82069124#Comment_82069124

The interest won’t "get below the interest rate I'm getting elsewhere"

You'll benefit from fully funding the regular saver, as you will be getting 8% and not whatever lower interest rate that money might be making "elsewhere"

Just because the money is in for a shorter period, does not mean you earn a lower rate of interest, as overall, you will get 8% on money moved to the regular saver, plus the interest on money remaining in the feeder account.

kaMelo

https://forums.moneysavingexpert.com/discussion/comment/82069124#Comment_82069124

Yes you can but your methodology of working out the interest rate on the Halifax is flawed. The interest rate on the Halifax regular saver is fixed at 8% AER, unless you're getting more than 8% AER on your other account the Halifax will always give a better return.

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82069162#Comment_82069162

Who knows, there could be a mad rush of 9-10% regular savers in the next few months!

kaMelo

https://forums.moneysavingexpert.com/discussion/comment/82069164#Comment_82069164

Lol, it would be good if it happened.

refluxer

"If you use the Halifax app you can continue to apply for a Halifax savings account"

Looks like they're winding down and limiting opening new Halifax accounts to those with the app (existing customers) which makes sense.

JamesRobinson48

https://forums.moneysavingexpert.com/discussion/comment/82069124#Comment_82069124

You will earn 8.00% p.a. interest on all of the money that you deposit in your savings account, calculated on a daily basis. Naturally, you won't be paid any interest on money that you don't have in the account. And of course, how much money you pay in, and when, is entirely up to you.

MACKEM99

Just opened one on website via my pc - took less than 30 seconds. (HFX).