Halifax regular saver rates cut by up to 3%

orbital83

http://www.halifax.ie/index.jsp?1nID=94&pID=107&nID=277 (see bottom of page)

For accounts opened before 24/10/06 the rate has fallen from 5.5% to 3%

For accounts opened between 24/10/06 and 07/10/07 the rate has fallen from 7% to 4%

If the account is closed between anniversary dates, a penalty is applied to the interest you're paid.
It is unclear whether the monthly contribution can be altered without incurring a penalty.

However you can make up to 2 withdrawals per year without affecting the interest rate, provided you leave €10 in the account.

So people should be considering withdrawing their balance accumulated to date, and moving it to the likes of Halifax Flexisaver (5.15%), First Active E-Saver (5.22%), Northern Rock (5%) and/or drip feeding to the regular savers on the market that remain competitive... AIB New Reg Saver (7.3%), First Active (7.15%), Anglo (7%) and others.

Then wait for Halifax to pay you the regular saver interest on the next anniversary date when you'll be free to close the account

Always giving you extra?? Don't let the bankers catch you napping!

BendiBus

Thanks for that! My last payment before I collect the bonus interest is next month so I'll wait till then and close the a/c