Halifax Flexi Saver

Am i correct that with the Halifax Flexi Saver interest of 5.15% will be added at the end of year one, then for the following year it will be 4%
Also can you lodge a lump sum into this account
Sorry if this has been covered elsewhere

Where are you getting the 4% figure from for year 2?

You can of course lodge a lump sum to the account. Note that he 5.15% rate only applies up to €10K.

Interest is credited quarterly.
So if you lodge €10,000 you should get €101 approx net of tax after 3 months, and further similar payments thereafter.

Note that once this happens, the balance above the €10,000 threshold will then be earning 4% so strictly speaking you should transfer the interest payment out into a more competitive account to maximise your interest.

The 5.15% rate is a special offer for one year only - so yes, the rate reverts to the prevailing standard rate on the full balance after year 1 (currently 4%)

John J said:

Note that once this happens, the balance above the €10,000 threshold will then be earning 4%

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The anecdotal evidence is that the lower rate only applies to the balance above €10K but since Halifax's T&Cs have been so arvcane in other respects (e.g. monthly saver) I personally would play it safe by always keeping the balance at or under €10K just in case.

The 5.15% rate is a special offer for one year only - so yes, the rate reverts to the prevailing standard rate on the full balance after year 1 (currently 4%)

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Ah - I see it now on the Halifax site. Forgot that the rate was for one year only...