It's not all good news for savers - Savings - News - Moneyfacts


It's not all good news for savers

It's not all good news for savers

Category: Savings

Updated: 31/10/2008
First Published: 19/11/2007

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Halifax has announced today that it is reducing its core savings rates by up to 0.25%. Whilst we have seen the launch of some competitively priced savings products this week, Halifax has bucked the trend by cutting rates on its core range. It is uncommon to see a provider reduce their rates in a period of base rate stability.

But while the majority of existing savers will have received a letter in the post informing them of a cut in their rate, Halifax is at the same time out to attract new customers with the recent launch of the Web Saver Extra paying 6.25% and by adding a bonus of 0.50% onto the Guaranteed Saver.

The message is clear, stay on your toes and keep an eye on your account to ensure you are getting the best rates available. Don't be afraid to vote with your feet when it comes to getting the best deal for your savings.

Savings Best Buys - Internet Savings Accounts

Savings Best Buys - No Notice Savings Accounts

Savings Best Buys - Fixed Rate Savings Accounts

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Savings rates plummet to fresh lows yet again

It’s becoming a recurring theme, and unfortunately, it’s showing no signs of stopping. Savings rates have plummeted to fresh lows once again as the impact of the base rate cut continues – and this month, product availability has followed.

Less than half of savings accounts beat inflation

Official figures show that inflation jumped up during September, with CPI rising to 1%. Not only does this mean that consumers may begin to feel the impact on their wallets, but there are now far fewer savings accounts that will beat inflation.

Number of savings accounts falls to record low

As if the continued drop in savings rates wasn’t bad enough, our latest research reveals another blow to already hard-pressed savers, with the number of accounts available having fallen to a record low.