Halifax Monthly Saver opened Jan07 - rate initially 6.65% not 7%?

I opened a Halifax Monthly Saver in January 2007 paying in €750 p.m. I'm virtually certain I did so because it was a 7% account. However my first annual statement from January 2007-January 2008 shows the initial rate as 6.65% and then the rate changing to 7% in March 2007. Does anybody know if this correct? Does anybody else have an account spanning a similar period? I called Halifax and they say that it's correct. I don't have my original correspondence to check what, if any, rate was specified on that but I will check later. I suspect that no specific rate is mentioned but I could be wrong...

That sounds right to me Clubman. I opened mine early last year but the rate didn't go up to 7.0% until about March or April.

Thanks sarah4 - I was obviously imagining things so.

Hi,

I was also surprized to see the 6.65% rate quoted on the annual statement. Am sure I also was under the impression it was 7% from the beginning.

On the halifax site they have a couple of interest rates quoted for regular saving accounts. - no mentioned of 6.65%. seems a bit strange to me..

Monthly Saver from 24/10/06 7.00% 7.00% AER
Monthly Saver before 24/10/06 5.50% 5.50% AER

OK - I forgot to check my original documentation last night to see what, if any, rate is specified. I will check later but I seem to recall there being no rate noted on the bumpf.

From statement I have the rates of interest are detailed as follows -
On 3 Jan 2007 rate went from 6.20% to 6.65%
On 12 March 2007 rate went from 6.65% to 7.00%

My account was opened later in January 2007 when the 6.65% rate was already in force. I was just sure that the reason that I opened the account in the first place was because it was offering 7%. gingdao obviously thought so too. I guess we're both mistaken but I remain surprised...

ClubMan said:

My account was opened later in January 2007 when the 6.65% rate was already in force. I was just sure that the reason that I opened the account in the first place was because it was offering 7%. gingdao obviously thought so too. I guess we're both mistaken but I remain surprised...

Click to expand...

I keep a record of the interset rates for interest calculations. March was definitly the first full month that the Halifax rate was 7%. I remember opening the account becuase it replaced the previous tracker-rate regular savers product. At the time 6.65 was very good.

If I'm not mistaken AIB increased their regular savers rate to 7% at this times and the likes of Anglo and Halifax replied in kind

Thanks - I forgot to check my original documentation again last night. But it certainly sounds like I was simply mistaken in assuming that it was 7% from the start.