Halifax Childrens Regular Saver....

SarahNeedle1872

We opened one of these for my son just after he was born in Feb 07.
At the time the int rate was 10% fixed for one year..... I have looked on the site, but cannot find what the int rate is now..... any ideas?

The Save4It acc that the money was swept into pays 5.55%, but I can't find any new int rates for the regular saver....

Cheers

Sarah x

EDIT: Just found this bit....

Your Halifax Children's Regular Saver account remains open, the interest rate applicable at the time is fixed for another year and you simply continue to save using the same standing order.

....but can't find what the int rate is....

shazrobo

hiya, i've just googled halifax childrens regular saver, and its still 10 %

Mikeyorks

Still 10% ..... as here :-

http://www.halifax.co.uk/savings/childregularsaver.asp

PS

Just realised you're asking what it is in the following year? Despite Halifax giving impressions to the contrary (they used to say 'we will write to you ...') ....... it actually stays at 10% for subsequent years.

Meltdown_2

Have Halifax ever changed the rate on this account?
It was 10% in June 2005, and I don't think it started much before that.

It was possible for many adults (parents, grandparents, etc) to each have one of these accounts open at the same time for the same child.
Is that still part of the T&Cs?

Edit: Yes, it is. (Thanks to link by emma396 on another thread in this forum.)

Mikeyorks

Meltdown wrote: »

Have Halifax ever changed the rate on this account?

No ... it's always been 10%. But they have changed the wording regarding where you run the account into a 2nd and subsequent years.

It used to say, to the effect 'after the 1st year, we will write to you and advise the excellent rate for subsequent years'. Clearly (?) implying the rate would not remain at 10%.

But as far as I'm aware ... they've never written to anyone. And they've now changed the wording to reflect the 10% does carry through.

bye_bye_band_G

We've had one of these with my husband as trustee for my daughter for a few years. We realised we could double up by opening another account with me as trustee. So now 2 lots of £100 per month.
I did this yesterday in branch and wow, it was hard work just keeping to what I'd gone for. The staff tried very hard to sell me every financial product going. I can't blame them at all for this and I wonder if this is why Halifax find it worthwhile to offer this attractive rate - they have you as a captive audience for half an hour, and its very hard to escape their financial review without appearing rude! I bet they sell lots of other products on the back of this.