Halifax high interest current account rate raised

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Halifax high interest current account rate raised

Wed 31st Jan 2007

The Halifax high interest current account is set to see a rise in the interest rate it offers from the beginning of February, available for both new and existing customers.

On February 5th, Halifax will be offering six per cent gross (6.17 per cent AER) on the account and to launch the product, will give any person switching to the any Halifax current account £100.

Switching to the Halifax high interest current account from one of the so-called big four banks in the UK which are; Barclays, Lloyds TSB, RBS/NatWest and HSBC, could save the customer up to £60 per year.

Paul Marriot-Clarke, head of banking, said: "We have consistently attacked the big four banks and we will keep that pressure up. There is no reason to accept a poor rate from your bank if you could be earning 60 times more interest with Halifax. Switching banks has never been easier or more profitable."

Halifax says that it estimates the 28 million people in the UK with current accounts could be losing a collective total of around £1 billion due to interest they cold have earned with another account provider.

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