Halifax to relaunch regular saver @10%+

wysiwyg78

I was in the Halifax yesterday and the guy serving me told me about this new account. The only difference is that he told me it would pay a fixed rate of 12%, you could pay up to £250 into it but the stipulation was that you would also need to open another particular savings account with the Halifax and keep at least £2500 in there.

It doesn't sound like a bad deal but the way he explained it I think you would need to leave the £2500 in there for the whle year.

Mikeyorks

The_Fiddler wrote: »

But not here http://www.halifax.co.uk/savings/personalrates.asp which lists the current interest rates.

Yes - it's last from the bottom, under Fixed Rates? Just above the 10% Children's Regular saver.

Mikeyorks

Tiffin wrote: »

and insist it goes to another Halifax account which if you havent used it for a year gets closed.

There are alternatives - but normally it's the Sav4it account that's used to sweep the funds into from the 10% Reg Saver. Strange that lots of people on here have opened the Children's Reg Saver .... but I've never seen anyone else complain that the Sav4it has been terminated for inactivity. As a lot must be opened commensurate with the Reg Saver and then lie empty until that matures a year later?

As this from Martin's article :-

http://www.moneysavingexpert.com/savings/child-savings-tax-free

The 10% rate is only guaranteed for a year, at which point all the money is transferred to a Halifax Save4it account (which is a decent payer – see above). Also, should you miss any payments during the year, only the Save4it's rate will be earned – currently 5.55%

redcar_2

My reg saver has just matured today and has had th emoney transferred out. Do you think I should close it so I can open up the new one incase they say you can't have more than one at a time and maybe having one open invalidates getting the other?

Newly_retired

I wonder if you - and I - have missed the boat on this one redcar?
My RS also matured yesterday but payments will automatically continue and are due out on 1st of the month ie today, though being Sunday it doesn't seem to have gone out from m current account. AM I too late to stop it tomorrow? I guess so. If I don't pay in any more, can I open this new one on 9 June?

Mikeyorks

As it's not being announced until 9th June ..... the T&Cs are unknown .... so questions like that simply can't be answered?

LittleVoice

For those who are worried that their maturing/continuing matured accounts could prevent them opening one of the new accounts - just delay June's payment to beyond the time that the new T&Cs are available.

redcar_2

LittleVoice wrote: »

For those who are worried that their maturing/continuing matured accounts could prevent them opening one of the new accounts - just delay June's payment to beyond the time that the new T&Cs are available.

Thats what I've done thanks to this thread.

I'm know I'm crystal ball gazing but just wondered if I should close the other reg saver down totally. I just don't want to be in the position wher I'm stopped from applying for this one as I already have one open albeit standing at 0.00. Feel free to speculate away...

regularsaver1

matttttttttt wrote: »

It is not up in the air.The account details are all finalised they just havn't been advertised yet.If you read my post I said that today I had meeting with an advisor at the Halifax.I had a full financial review and discussed the fact that my Regular saver matured on the 31 st May and as I had read about the new rate I enquired about it.
Do you not think that a Halifax Personal Financial Advisor would know the details of new products ?

no, because the financial advisers do not deal with this product and would rather do their own regular savings products than this

it is going up to £500 p/m

torbrex

regularsaver1 wrote: »

no, because the financial advisers do not deal with this product and would rather do their own regular savings products than this

it is going up to £500 p/m

This is the figure that I was quoted when I made enquiries at my branch but she did stress that I should wait until the launch on the 9th which is what I am doing.