Halifax to relaunch regular saver @10%+

mr_fishbulb

KAB wrote: »

- extra 2% bonus if you also keep at least £5k in your nominated linked account

Which I'm guessing must be a Halifax account, otherwise how would they know? Their high interest current account pays 5.12% on balances up to £2500 over which they pay 0.1% - doesn't sound like much of a bonus.

KAB wrote: »

There may be other conditions as it's aimed at new customers and new money.

That's nice of them :rolleyes:

Milarky

mr_fishbulb wrote: »

Which I'm guessing must be a Halifax account, otherwise how would they know? Their high interest current account pays 5.12% on balances up to £2500 over which they pay 0.1% - doesn't sound like much of a bonus.

:rolleyes: That's nice of them

And what does their websaver pay (one of the linked accounts allowed with the current regular saver) - 4.36%?

Assume you could earn 1.5% more in the best alternative instant access account - and kept £nil in a websaver thats £75 more interest. The average balance in the 10% account is going to be [STRIKE]£1625[/STRIKE] £3250 and 2% of that is [STRIKE]£31.50[/STRIKE] £63 - so it looks as though the benefit of any bonus is easily negated. Also, keeping your £5000 elsewhere on no-notice allows you to move it around if necessary, with no loss of rate

[Sorry for assuming this was the same £250 per month limit as the existing Halifax RS - So, going back to a previous observation, this is clearly a different account and therefore you'll be able to have both at the same time]

debbie42

Milarky wrote: »

so it looks as though the benefit of any bonus is easily negated.

I was just coming to that conclusion too, reading the thread. If they put all these extra t&c on these great sounding headline rates, it just makes me feel like they are trying to take advantage of people who don't spot the drawbacks.

mr_fishbulb

So does the 2% bonus take it from 10% to 12%?

Or from 8% to 10%?

torbrex

The 2% bonus is paid if you have £5000 in any account with HBOS if not you get 10%, the starting date is due to be 9th June with a £500 max deposit/month by standing order and no withdrawals other than closure. I asked if it was possible to open the account with £500 cash then have a SO entering in the same month so that I would get £1000 in the first month but was told this was not allowed.
The person I spoke to was pretty sure of the starting date but told me to keep an eye out for the posters going up.
I think I will go for it as I will be moving the money from my current account payng 5% to this rather than to another account paying 6.5% and when the year is up I just transfer the total to the account paying 6.5% or maybe a fixed bond of some kind thus maximising my returns.

oldfella

The 2% bonus is paid if you have £5000 in any account with HBOS if not you get 10%

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does this include web saver fixed interest ?

Ike1

Just to double check - is the monthly saving amount the usual £10-£250? Or is it up to £500?

torbrex

It will be £500/month

AddictedMoneysaver

I opened up a Halifax reg saver last month at what now seems a pretty poor 7% with 250 cap a month. Does anyone know if I'll be able to shut this down and open up a new one at the new rate?

AddictedMoneysaver

Also the current childrens reg saver is 10% with a £100 cap a month. The new reg saver makes the childrens one look pretty poor in comparison, so I wonder if they'll increase the rates on this as well??