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 Halifax has so far reunited holders of accounts that have been forgotten about with over GBP16.5 million of their savings since starting its campaign earlier this year.
Over 7,200 people have had money paid to them by the Halifax since February this year, working out at an average of over GBP2,300 per person. The process began by looking at 25,000 dormant savings accounts, some of which had considerable sums in them. A spokesman from the Halifax said that over two thirds of the accounts that held more than GBP50,000 had been accounted for and the funds passed on to the owners.
The Halifax will continue with the remainder of the accounts but also introduce another 150,000 into the mix, worth another GBP30 million. Customers do not have to do anything, since the Halifax are searching for the owners. However it could speed up the process to get in touch with them should you have an account like this.
The decision by Gordon Brown to review the state of social care in order to make them more affordable and fairer for everyone has been welcomed by Saga Insurance.
The insurer has asked for steps to be taken as quickly as possible to help those who need it but also advises people to take independent financial advice in the meantime to ensure they make the best decision. Saga Insurance research shows that the typical cost of a 4 year care home stay is expected to almost double in the next twenty years, from GBP112,000 to GBP223,000.
A Saga Insurance spokesman said that it was vital to get professional financial advice since it could help inheritances be protected rather than seeing it all eaten up in care fees as is currently the case.
More information about Saga Insurance can be found within Moneygossip.co.uk.