The Halifax has just announced that the Web Saver Extra savings account it offers will have an increased rate of interest, up now to 6.35 percent gross.
The increased rate offer is applicable to all customers be they new or existing ones and it is valid on balances as little as GBP1, the minimum amount needed to open the account, up to GBP100,000. Halifax Web Saver Extra account holders are able to manage their savings online and are allowed one withdrawal each year without affecting their interest payment. Any subsequent withdrawals will see thirty days loss of interest on the value of the withdrawal.
This particular Halifax savings account has been very popular with customers enjoying an excellent rate of interest, payment of which is made annually and added to the account.
The Bank of Scotland has a fantastic opportunity for first time buyers saving a deposit for their first home – doubled up savings.
The way this works is that savers who regularly deposit money into a Bank of Scotland savings account, up to a maximum amount saved of GBP5,000, will have the balance matched by the home builder Persimmon. The one proviso is that this only happens if the savings are used as a deposit on a new house.
A spokesman from the housebuilder saw it as making a real difference for first time buyers, though they would still need a considerable amount saved elsewhere in order to make the 25 percent minimum deposit most mortgage providers require. The Bank of Scotland are also in favour of the scheme as they want to help home buyers as much as they can.
According to information from the Abbey National savings division the people of the UK have been putting their money away to pay for a summer holiday, with Europe being the most popular choice.
With the value of the pound dropping against the Euro this means that summer holidays will cost more this year, meaning consumers need to save more for their break. With the average holiday costing over GBP1,600 it is good that the people of the UK have been saving their money to cover this cost, although a small percentage will be using their credit cards to pay.
The monthly cost for the average holiday is a little under GBP140, which could have earned the full amount needed in one of the excellent Abbey National savings accounts.
