how variable is interest rate on halifax savings account?

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esperanza2

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This monthly saving account from Halifax looked enticing until I saw that it was a variable rate of 7%. How much could this vary? Is it dependent on the ECB interest rates (which will be raised again before end of year). Is it a safe option? Does anyone know of similar offers from banks?

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I don't think that there is any rate guarantee (certainly nothing about this in their terms & conditions) so it's as variable as they choose to make it. Some other regular saver accounts offer some form of rate guarantee. See the Financial Best Buys forum for more on this.
 
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