Halifax launches 10% Regular Saver account

Halifax has announced the launch of a new 10 per cent Regular Saver account, unlike other accounts available in the market this is not linked to a current account.

Savers will benefit from a best buy rate and a leading maximum monthly deposit limit of £500. An additional 2 per cent interest rate is available to savers who deposit and maintain a further £5000 in a nominated Halifax savings account.

The new account is available for a limited six week period, from Monday 9th June until Sunday 20th July.

Key features:

10% gross interest, fixed for a year

Open to new and existing customers, one account per adult. Account available for a limited period ending 20th July 2008. One regular saver account per customer, per year.

Deposit between £25 and £500 each month by standing order

If the account is closed early or a withdrawal is made, the rate of interest will revert to the Halifax Web Saver without card rate for the period of investment.

Each year the capital and interest are swept into one of six nominated accounts. The regular saver account remains open and deposits can continue to be made

Operated via branch or online

Unlike some other banks, customers are not obliged to take a low interest current account in order to open the regular saver account.