Market Leading 2 Year Fixed Rate ISA 2.00% + Halifax Savers Prize Draw Each Month @ Halifax
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Market Leading 2 Year Fixed Rate ISA 2.00% + Halifax Savers Prize Draw Each Month @ Halifax

34
Found 26th Jul 2015
Halifax has offered a market leading ISA which is a 2 year fixed at 2.00% called ISA Saver Fixed plus the chance to enter the Halifax Savers Prize Draw 3 top prizes of £100,000

You’ve a chance of winning one of 3 top prizes of £100,000, if you register and hold £5,000 or more in a qualifying account during the whole previous calendar month.

Transfers In Accepted.

This is a savings account so could any comments relate to a savings account and not a current account as a comparison

34 Comments

ISA is waste of time really..

pablomalin

ISA is waste of time really..


Why?

cam2012

Why?



Better rates from certain current accounts

Original Poster

delusion

Better rates from certain current accounts


This is a savings account so could any comments relate to a savings account and not a current account as a comparison

delusion

Better rates from certain current accounts


Care to provide details???

cliosport65

This is a savings account so could any comments relate to a savings … This is a savings account so could any comments relate to a savings account and not a current account as a comparison


I'm weighing up my options so interested to hear what he/she has to say

No withdrawals allowed. Early closure or transfer out permitted. Closing your account early will result in the loss of an amount equivalent to:

1 year term – 90 days’ tax free interest
2 year term – 180 days’ tax free interest
5 year term – 365 days’ tax free interest

This amount will be taken from the amount you put into your ISA Saver Fixed and therefore you may get back less than you deposited.

ISA rates are higher than normal top savings rates, but they are beaten by high rates on some current accounts to persuade you to switch to them.

As many current accounts only allow sub £3,000 worth of savings, it's worth saving in both a current account and a cash ISA if you've got more than that. Alternatively, you can earn 3% with Santander on the full £15,240.

Of course the key is you don’t pay tax on ISAs, so you have to compare it to the after tax rate. Here are the top picks - click the links below for full info on these accounts.

Santander 123 pays 3% on £3,000 - £20,000. That’s 2.4% after basic-rate tax, and 1.8% after higher rate.
Club Lloyds pays 4% on £4,000 - £5,000. For basic-rate taxpayers that's 3.2% after tax, for higher-rate payers it's 2.4%.
TSB pays 5% on up to £2,000. That's 4% after tax for basic-rate taxpayers, 3% for higher rate.
Nationwide FlexDirect pays 5% on up to £2,500 for a year, 1% after that. That's 4% after tax for basic-rate taxpayers, 3% for higher rate.

Edited by: "pablomalin" 26th Jul 2015

cliosport65

This is a savings account so could any comments relate to a savings … This is a savings account so could any comments relate to a savings account and not a current account as a comparison



I was just answering his question, you seem to be the unhelpful one who doesn't seem to want to find the best place to put your money? Good luck with that.

Original Poster

delusion

I was just answering his question, you seem to be the unhelpful one who … I was just answering his question, you seem to be the unhelpful one who doesn't seem to want to find the best place to put your money? Good luck with that.


Yes fully understand that but this deal is for a savings account and as I said in the description not to use current accounts as a comparison a savings account is completely different to a current account

Original Poster

pablomalin

No withdrawals allowed. Early closure or transfer out permitted. Closing … No withdrawals allowed. Early closure or transfer out permitted. Closing your account early will result in the loss of an amount equivalent to:1 year term – 90 days’ tax free interest2 year term – 180 days’ tax free interest5 year term – 365 days’ tax free interestThis amount will be taken from the amount you put into your ISA Saver Fixed and therefore you may get back less than you deposited.ISA rates are higher than normal top savings rates, but they are beaten by high rates on some current accounts to persuade you to switch to them.As many current accounts only allow sub £3,000 worth of savings, it's worth saving in both a current account and a cash ISA if you've got more than that. Alternatively, you can earn 3% with Santander on the full £15,240.Of course the key is you don’t pay tax on ISAs, so you have to compare it to the after tax rate. Here are the top picks - click the links below for full info on these accounts.Santander 123 pays 3% on £3,000 - £20,000. That’s 2.4% after basic-rate tax, and 1.8% after higher rate.Club Lloyds pays 4% on £4,000 - £5,000. For basic-rate taxpayers that's 3.2% after tax, for higher-rate payers it's 2.4%.TSB pays 5% on up to £2,000. That's 4% after tax for basic-rate taxpayers, 3% for higher rate.Nationwide FlexDirect pays 5% on up to £2,500 for a year, 1% after that. That's 4% after tax for basic-rate taxpayers, 3% for higher rate.


This is a savings account so could any comments relate to a savings account and not a current account as a comparison
Santander, Lloyds, TSB @ Santander DO NOT offer the Halifax savers draw

Edited by: "cliosport65" 26th Jul 2015

Good as a heads up but there are a lot of other options out there.
This is okay if you have a large sum or existing ISA lump (over 3000+?) to stash away for 2 years.
Nationwide have a 1.9% regular saver that allows withdrawals
Other accounts will pay you more on low ish sums.
Don't get hung up on a name. Many current accounts will provide the best deal for some peoples savings.

keepng my money frozen for 2 years for 2%? no way...

Original Poster

pablomalin

keepng my money frozen for 2 years for 2%? no way...


lol that's more like it , I agree its not for everyone but will suit certain people

cliosport65

Yes fully understand that but this deal is for a savings account and as I … Yes fully understand that but this deal is for a savings account and as I said in the description not to use current accounts as a comparison a savings account is completely different to a current account



very true. several current accounts pay more interest and offer more flexibility. :-)

just received 50 pound just for being referred to nationwide and 80 pound cashback has been confirmed as well

Original Poster

pablomalin

just received 50 pound just for being referred to nationwide and 80 pound … just received 50 pound just for being referred to nationwide and 80 pound cashback has been confirmed as well



​????? oO

strange thing is that you have been posting current account deals before, c'mon mate you should know where to put your money

Original Poster

pablomalin

strange thing is that you have been posting current account deals before, … strange thing is that you have been posting current account deals before, c'mon mate you should know where to put your money



​I do but I also have savings account as well

Have to agree an isa has become just about worthless, just a banks marketing tool / sham

There are exceptions obviously, but for what it's worth, why bother?

I've gone down the current account route this year, isa rates are so poor I don't think they're very good anymore. George is making savings interest for most of us tax free from next April, another reason isa's don't look the way nowadays. sorry if that upsets you cliosport65, hope it doesn't.

Right, so I've got £8.5k in isa's at the mo, which are doing virtually nothing. I'm off on a big ole cycle tour shortly, with monthly outgoings of about £100 (yup, it doesn't cost much to travel on a bike !).

SO, I guess I'm best doing the following;

£2k into TSB @ 5%
£2.5K into Nationwide for 1 year @ 5%
£4k into Club Lloyds @ 4%

Profit per year;
£100 profit from TSB (less tax), £125 from Nationwide (less tax), £160 profit from Lloyds (less tax).

So, £385 per year (less tax)?

Sounds like it's worth the effort (unless I am missing something)
Edited by: "wenttoabetterplace" 26th Jul 2015

A bit more work involved than that... Minimum deposits each month, maybe direct debits. On the plus side, TSB will give you £100 for transferring to them. Check out moneysavingexpert for full details on what to do

I've said before, HUKD is definitely NOT the place to get 'expert' advice on anything! Especially money.

wenttoabetterplace

Right, so I've got £8.5k in isa's at the mo, which are doing virtually … Right, so I've got £8.5k in isa's at the mo, which are doing virtually nothing. I'm off on a big ole cycle tour shortly, with monthly outgoings of about £100 (yup, it doesn't cost much to travel on a bike !).SO, I guess I'm best doing the following;£2k into TSB @ 5%£2.5K into Nationwide for 1 year @ 5%£4k into Club Lloyds @ 4%Profit per year;£100 profit from TSB (less tax), £125 from Nationwide (less tax), £160 profit from Lloyds (less tax). So, £385 per year (less tax)?Sounds like it's worth the effort (unless I am missing something)



You can have two TSB sole accounts and two joints accounts, £8k in total.

Put it in premium bonds!! Can't believe we're all getting a twitch on over 2% savings account!!

chrisf74

Put it in premium bonds!! Can't believe we're all getting a twitch on … Put it in premium bonds!! Can't believe we're all getting a twitch on over 2% savings account!!



As far as I'm aware the prizes are currently at 1.35%.

I decided to go down the investment funds route for long term savings. Averages out about 15% up over the last year or so (one fund up 54%!). In s&s isa so tax free too. Barely got anything in cash isa now.

Original Poster

oddballjamie

You can have two TSB sole accounts and two joints accounts, £8k in total.



​One sole TSB account now and One joint account .

Original Poster

chrisf74

Put it in premium bonds!! Can't believe we're all getting a twitch on … Put it in premium bonds!! Can't believe we're all getting a twitch on over 2% savings account!!



​premium bonds end soon I read somewhere

Original Poster

chrisf74

Put it in premium bonds!! Can't believe we're all getting a twitch on … Put it in premium bonds!! Can't believe we're all getting a twitch on over 2% savings account!!



​With the Halifax you get the chance to win up to £100000 each month as well as other prizes X)

Original Poster

Jiming

As far as I'm aware the prizes are currently at 1.35%.



correct alot of people don't know this and usually win the equivalent to this in a prize

Original Poster

people seem to be like sheep and vote cold without reading or understanding, see it cold vote it cold at least if you are voting cold be nice and leave a comment as to why

If you read the terms and conditions on the Halifax web site,an ISA account,even if you have more than 5k in does NOT qualify you for the monthly prize draw. It's only savings or current accounts that qualify you for the draw. You even have to have at least 5k in for a whole month before you are entered into the draw.

Original Poster

Markhelp

If you read the terms and conditions on the Halifax web site,an ISA … If you read the terms and conditions on the Halifax web site,an ISA account,even if you have more than 5k in does NOT qualify you for the monthly prize draw. It's only savings or current accounts that qualify you for the draw. You even have to have at least 5k in for a whole month before you are entered into the draw.


Wrong don't know where your reading that? Savings accounts & ISAs DO count towards the savers draw. Current account and children's savings accounts DO NOT count towards the savers draw
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