Halifax UK regular saver 10%

RobAMerc

Registered User
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79
Just wondering...

Halifax UK is offering 10% on a regular saver max 500 per month GBP.

With the exchange rate being so favourable at the moment,would it be a good idea to open an account there, transfer money accross to the value of 500gbp and wait till the Euro Sterling rate change ?

Not sure if its even possible but interested in the opinions of those more knowledgeable than I.

thanks
Rob
 
There is a theory called Interest Rate Parity which purports that any difference in interest between two countries with different interest rates cannot be taken advantage off as the currencies are expected to move against you to balance out the higher rate.

Wheteher this applies in this case is obviously not known. In my opinion its a good deal but there might be some hassle opening a Halifax UK account.
 
This account is for UK residents only. There is a monthly saver account for non-UK residents offering 4.51%.
 
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