UK Money News
9th May 2008
Halifax increases return on Web Saver Extra account
Halifax has confirmed it is to increase the rate of interest offered on its online bank account.
As of today, the bank account provider will raise the rate on its Web Saver Extra account to 6.35 per cent gross (6.07 per cent AER).
The rise applies to all existing customers as well as those who do not currently hold an account with the provider.
Among the other selling points of the account is the chance to make withdrawal per year without incurring loss of interest, with each subsequent withdrawal resulting in the loss of just 30 days interest on the amount withdrawn.
The decision to increase returns for Web Saver Extra account holders comes at a time of increasing competition for custom among account providers.
This has been fuelled by banks seeking to source more of their income from customers' deposits in the face of strains on liquidity in the international money markets.
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