Halifax reducing deposit rate

I opened a 1 year fixed @ 5.6% in a Halifax branch late on Saturday morning with a cheque.

I only realised later that the documentation they gave refers to the fixed rate account opened, but does not say 1 year or give a maturity date or the interest rate to be applied.

Called in on Monday and got a statement which states amongst other details, the maturity date of 19/01/2010 at an interest rate of 5.6%, so I’m happy.

Both the call centre staff and branch could not have been more helpful and polite.

Oldtimer it will be interesting to hear how you get on.
 
OK, I've missed out on the 5.6% fixed term rate but I think I'll stick a few quid into their FlexiSaver account (5.15% AER).

any opinions on the Flexisaver account?
 
Fair play if you get 51.5% :)

Seriously though I think it's a really good account. Online access & a good rate. Shift money in & out as you please with such a good rate. Whats not to like. However who knows how long that rate will last.
 
Pauliwalnuts said:
Fair play if you get 51.5% :)

Seriously though I think it's a really good account. Online access & a good rate. Shift money in & out as you please with such a good rate. Whats not to like. However who knows how long that rate will last.
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who said anything about 51.5%? ;) yeah I think I'll go for their Flexi saver account. already have a monthly saver and a current account with Halifax and I've no complaints so far.
 
Presumably this means that the <10k which I had sitting in my Flexi Saver account at 5.15% since late December now drops to the 4% rate? (I didn't fix it, as I need instant access). If so, seems my best course of action is to move it to my Northern Rock or Anglo Premium Demand account?

I expect the same applies to my First Active eSaving account too - they are reportedly dropping their rate from 26th, and my existing deposit will drop to that rate, as it's not fixed?

Thanks,
-fm
 
Wow 4% as their bonus rate up to 10,000. 2.1% after that!!

I wont be transferring as much as initially planned to the flexisaver account now. I`ll top it up to 10K and leave the balance in Rabo until I decided where to move it.
 
Certainly sends a signal about their commitment to the savers in Ireland. With all the uncertainty in the banking world, seems odd to slash rates so aggressively - new owners of HBOS, Lloyds, influence (who dont have an Irish prescence) starting to take effect...whats bet the mortgage rates start to increase an Paddy customers may up all round? Buy Irish, thats what I say.
 
Guys I take it you all know how low the ECB rate is these days?? Most of the rates on offer are still in excess of it.
 
adox said:
I wont be transferring as much as initially planned to the flexisaver account now. I`ll top it up to 10K and leave the balance in Rabo until I decided where to move it.
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Why transfer anything into this account now? and why leave anything in a low interest rate Rabo account? When you can get 5.50% for on demand with Anglo or 5.50% fixed with Investec.

Certainly sends a signal about their commitment to the savers in Ireland.
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Yeah Halifax have slipped from previously being 2nd/3rd most competitive in their savings products. Shame. Still the rates are not as low as Rabo/AIB/BOI.


A bloodbath has started with deposit rates but there are sill some excellent rates out there for those that shop around.
 
Apologies if this question is addressed elsewhere - what actually is the guarantee on Halifax? As per one UK site it's 50,000 sterling. Is this correct or is there an irish guarantee that increases this amount?
 
Thanks Fungus. On reading their page - just a little concern with their statement -quote ' we understand the levels of protection in place are as set out below ' unquote.
With the Fin Regs understanding and application of stress testing of banks last year, etc, etc, -is my concern justified!?
 
In my opinion there is nothing to be concerned about with a deposit with Halifax rate (except the low interest rate).
 
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