Friday 26th September 2008
Halifax International is increasing the rates on its Fixed Rate Web Saver and Sterling Variable Rate Web Saver accounts, with immediate effect.
Fixed Rate Halifax International Web Saver Account
Halifax International has increased the interest rate on the six month and one year fixed terms of its Fixed Rate Web Saver account to 6.50% and 6.70% gross p.a. respectively.
| Term and minimum balance | Annual Gross AER % | Auuual Gross % p.a. | |
| 6 months | £1,000+ | 6.61 | 6.50 |
| One year | £1,000+ | 6.70 | 6.70 |
| Two years | £1,000+ | 6.00 | 6.00 |
| Three years | £1,000+ | 6.00 | 6.00 |
The Halifax International Fixed Rate Web Saver account has a minimum opening balance of £1,000 and a maximum investment balance of £1m. The account also offers two and three year terms, for which the rate remains unchanged at 6.00% gross p.a.
Interest is paid on the six month and one year account on maturity. For the two and three year term account, interest is paid annually. The interest payment is credited to a Variable Rate Halifax International Web Saver account which must be opened by the customer at the outset.
This account is only available in Sterling. It can be opened by phone or online and can be managed by phone or online 24 hours a day, seven days a week.
Sterling Variable Rate Halifax International Web Saver
Halifax International has increased the interest rate on its online Sterling Variable Rate Web Saver account for balances over £25,000 to 6.30%. The rate on the lower tier for balances over £5,000 remains at 5.90% and the rate for balances between £1,000 and £5,000 is being reduced to 5.40%.
| Minimum balance | Annual Gross AER % |
| £25,000+ | 6.30 |
| £5,000+ | 5.90 |
| £1,000+ | 5.40 |
The Sterling Variable Rate Web Saver account enables unlimited withdrawals and deposits, with no penalties. The minimum opening balance is £1,000 and the maximum balance is £1m. Interest is paid annually and it is possible to have up to five different Halifax International Web Saver accounts.
The account can be opened by phone or online and can be managed online, 24 hours a day, seven days a week.
Halifax International also offers a Variable Rate Web Saver in Euros and Dollars.
James Gairdner, Head of Offshore Banking at Halifax International, comments:
"These are market leading accounts for expatriates designed to help make offshore savings really simple and are a great way to grow their offshore savings.
"The Fixed Rate Halifax International Web Saver offers the certainty of a competitive fixed rate, protecting against changes in interest rates and ensuring that customers know exactly what they will earn. The Sterling Web Saver account is great for everyday offshore saving. It offers attractive tiered rates, so the more you save, the more interest you earn."
Editors' Notes
Customers should visit www.halifax-international.com or call +44 (0)1534 846555 for more information.
If you do need access to your money you can close your Fixed Rate Halifax International Web Saver account after six months. You will be charged a fee equivalent to six days' interest (calculated at the same rate at which interest is paid on your account) for each remaining month or part month of the investment term chosen. This is subject to a minimum of 30 days' interest.
Halifax International is a registered business name for Bank of Scotland International Limited.
For press enquiries please contact Jennie Carroll on 01422 333829 or jenniecarroll@halifax.co.uk
