Halifax to relaunch regular saver @10%+

highet

just to warn people - if you open one of these regular saver accs via the bank of scotland website the BOS instant access savings account is one of the nominated linked accs which can be used - if you go via the halifax site the BOS IASA isn't mentioned and if you phone the helpline they will tell you the BOS IASA isn't a linked account - only when you get them to check the BOS website will they admit that the IASA can be used as nominated account - how can Halifax and BOS claim to be one company, supposedly HBOS, when one half doesn't appear to know what the other is doing?

w123kid

So if i get this right

say i save 500 per month totalling 6000 within the year it runs for
what will my average interest be at end of year?
something round the 325 mark?

macca64

Yes that will be about right, however that will be the gross interest before tax.

macca64

COOLTRIKERCHICK wrote: »

sorry if this is going to sound so silly amoungst you saavy savers.....

but i want to try and start saving... we put £10 per week away from hubby's wages but that is 'emergancy money'...

i want to start saving £25 per month, but if i can afford to save more i will make another payment...

i know it is only a little amount, but is it worth me opening the halifax saver account at 10%, i was going to try and stooze but not quite ready for that yet...

as i say i know its olny a small amount each month, but its a start....

It's all about making the most of what you have, so it's better to save £25 per month and get 10%, rather than a normal savings account and get 6.5%. Go for it, 10% is a good rate, especially for an account which requires no current account (eg. A&L).

Paul_Herring

w123kid wrote: »

something round the 325 mark?

Before tax, yes. (6.5 x £500 x 10%)

Essenchill

You cannot drip feed directly from outside Halifax? You have to have a linked Halifax account? Was thinking of maybe drip feeding from Kaupthing you see...

LongTermLurker

Essenchill wrote: »

You cannot drip feed directly from outside Halifax? You have to have a linked Halifax account? Was thinking of maybe drip feeding from Kaupthing you see...

The Hx nominated account isn't the same as other banks' linked accounts - the nominated account is only there as a place to put the proceeds from the RS. You can transfer into the RS from any account.

However, you can only move funds out of KE to its linked account, and I don't think the RS could be linked to KE? So your problem is with the KE link, not the RS link - hope that makes sense?

tiptoe_mouse

I'm going to give tesco internet saver (6.25%) a try as a feeder account since it apparently allows me to make payments out of it to any account in my name.

tiptoe

Essenchill

LongTermLurker wrote: »

I don't think the RS could be linked to KE? So your problem is with the KE link, not the RS link

Eek! You're right aren't you....! Oh well!!

BallandChain

I've read as far as page 16 so forgive me if this has already been answered.

I have the 7% Regular Saver a/c, websaver variable rate a/c as my nominee a/c. I'm going to close the 7% RS as I want to open the 10% RS.

1. If on closing the a/c my money goes into the websaver a/c how do I access that money? I don't have any other a/cs with Halifax. Do I get a withdrawal slip over the counter? (Sorry if I sound a bit thick!)

2. Do you have to have £2,500 in order to open the Guaranteed Saver as a nominee a/c?

3. I'm a little confused about when to start payments in the a/c as some people say you earn more interest by paying in on a certain time of the month. What difference can that make as your a/c runs for 12 months and you earn interest from the day you start paying in surely?

4. Althougth the Regular Saver runs for 12 months people on this thread say it goes back to 0 balance and you can keep saving in that a/c. Is that right?

Phew. I think I've covered it. Hope you can help!