Halifax to relaunch regular saver @10%+

Ifts

Newly_retired wrote: »

Guaranteed Saver Reward at 6.25% which finishes in a few days. Anybody tell me what the rate on this acount will be after the 12m fix?

My Guaranteed Saver Reward went down to 0.50% gross p.a. after 12 months.
Halifax do a Web Saver Reward @ 2.5% for 12 months, £1 min bal, max 4 withdrawals.

Or have a look here for options: moneyfacts or moneysupermarket.com

cogito

jackieblack wrote: »

Sorry if this has already been covered (I have read back and can't see it, but could have missed it )

As I understand it (and I may have mis-understood), if you don't cancel the standing order, the account carries on but, I assume, not at a much lower rate? Would that be the current Regular Saver rate (4%?)? And does it drop from the anniversary date the account was opened?

I'm glad I saw this. I've just checked with Halifax and the standing order is set to continue. I wouldn't have known otherwise as I thought it was just a 12 month commitment.

jrs101

Hi,

I paid £500, every month for 12 months - £6000 total.

I received the interest a few days ago which was £323 gross, £258.62 net. Does this seem correct ??

thanks

tiptoe_mouse

jrs101 wrote: »

Hi,

I paid £500, every month for 12 months - £6000 total.

I received the interest a few days ago which was £323 gross, £258.62 net. Does this seem correct ??

thanks

That seems about right according to this calculator.

HTH,

tiptoe

lindos90

My reg saver matured on 26th, but when I tried to make a transfer, it said that the next available date for transfers was tuesday 30th I can understand perhaps not being able to do it at the weekend, but not until tuesday the following week, and then another 4 days to transfer and ckear, that a whole week!

opinions4u

lindos90 wrote: »

My reg saver matured on 26th, but when I tried to make a transfer, it said that the next available date for transfers was tuesday 30th I can understand perhaps not being able to do it at the weekend, but not until tuesday the following week, and then another 4 days to transfer and ckear, that a whole week!

So there's been one full bank working day between maturity and transfer out?

Life is so hard.

jrs101

tiptoe_mouse wrote: »

That seems about right according to this calculator.

HTH,

tiptoe

Many thanks for that.

So, now its matured - what are my options?

I cancelled the standing order. Will interest just accrue on the whole sum (capital and interest) and if so, at what rate? Can i open another one and move the balance. If so, again what rate will that be at?

thanks

tara747

I got my interest... £297.10! Very happy and have transferred it out already and into my Abbey high interest current a/c. I've already maxed out my A&L high interest a/cs, they are better than any ISA at 8.5% gross! When that finishes at the end of this year, I might fill up my ISA for the year if there's nothing better around.

nzseries1

lindos90 wrote: »

My reg saver matured on 26th, but when I tried to make a transfer, it said that the next available date for transfers was tuesday 30th I can understand perhaps not being able to do it at the weekend, but not until tuesday the following week, and then another 4 days to transfer and ckear, that a whole week!

Shame, I transferred the amount to my Halifax current account (instant), then used faster payments to transfer the full amount (in lots of £999) to my Tesco savings account, and it was all instant! I love Faster Payments!

tiptoe_mouse

jrs101 wrote: »

Many thanks for that.

So, now its matured - what are my options?

I cancelled the standing order. Will interest just accrue on the whole sum (capital and interest) and if so, at what rate? Can i open another one and move the balance. If so, again what rate will that be at?

thanks

The whole sum will have been moved into whichever Halifax savings account you nominated at the outset. I think the default choice was their websaver, which pays 0.1% on balances up to £5000 and 0.15% on balances between £5000 and £25000.

Your Regular Saver account will stay open, and be ready to accept monthly payments, but will only pay 4%. You will only be able to pay in up to £500 a month, as before, with no option to transfer a lump sum.

You may be able to do better elsewhere.

HTH

tiptoe