Halifax Young Saver retains top-10 position | Product News - Moneyfacts

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Halifax Young Saver retains top-10 position

Halifax Young Saver retains top-10 position

Category: Savings
Date: 08/10/2015

MONEYFACTS ARCHIVE
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 It is now over 6 months old so the content may be out of date.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 reduced the rate paid on its easy access account for children, but despite this it maintains a top 10 position in the Moneyfacts charts thanks to its continuing competitiveness.

The basics…

Young Saver now pays a variable rate of 2.25% yearly on balances of up to £20,000, enabling this account to retain its position in the charts. Savers should note that a lower rate of 0.50% will be paid on balances that exceed this sum.

The finer details…

This account must be opened in branch with a minimum investment of just £1. It can then be operated in the same way as well as via an ATM. It is available for children up to the age of 15 and will be held in trust by an adult.

Further additions are welcomed at any time while an unlimited number of penalty-free withdrawals can be made without any notice required, giving savers all the flexibility they could wish for.

Why we like it…

Despite the rate reduction, Young Saver still remains competitive in this area of the market and retains a position in the charts. Parents or family members who want to save for the future are likely to find this highly flexible, competitive account an attractive deal for building a savings pot for their children.

Moneyfacts rating: Excellent

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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