Halifax Rewards to be scrapped

[kevinchess1]

Not really comparable, the odds of winning the jackpot are only 1 in 34 billion with Premium Bonds, however most holders enter every draw hundreds or thousands of times and you get your stake money back again afterwards:
https://www.which.co.uk/news/2018/04/fi ... ur-savings

Halifax savings account rates are pretty awful - either 0.55% to 0.70% fixed for 2 years or 0.20% easy access:
https://www.halifax.co.uk/savings/accounts/

>
There hasn't even been a thousand draws yet
Halifax have a regular saver, pays more than those rates you listed
MSE have a report on PB there opinion is there not worth it

[Sarah]

Halifax regular saver account isn't useful for entering their prize draw since you can't deposit £5K into it; to qualify you'll still need to supplement it with other accounts paying very low interest rates.

MSE opinion against Premium Bonds is somewhat based on the opportunity cost of not taking up a few better options (such as current accounts paying high interest rates), however if you've already used those options or wish to diversify then Premium Bonds become more interesting, especially for higher rate tax payers.

[rayf]

Better to try the Premium Bonds - I havent done too badly on these. They pay out a certain percentage of the total pool as prizes. Not very high but there is always the chance of winning a million

More likely to win the National lottery

More likely (certain) to lose your stake

[blythburgh]

We bought our usual 2 £1 lotto scratchcards and won £7 this week. Not a usual week's result

[expressman33]

Santander are cutting the 123 interest rate from 1.5% to 1.0% on 5/5/20

[Sarah]

Santander are cutting the 123 interest rate from 1.5% to 1.0% on 5/5/20

They're also introducing £5 per category limits on cashback and still going to charge the same £5/month fee!

https://www.moneysavingexpert.com/news/ ... s---what-/

[expressman33]

Santander are cutting the 123 interest rate from 1.5% to 1.0% on 5/5/20

They're also introducing £5 per category limits on cashback and still going to charge the same £5/month fee!

https://www.moneysavingexpert.com/news/ ... s---what-/

Time to switch

[AAAlphaThunder]

Santander are cutting the 123 interest rate from 1.5% to 1.0% on 5/5/20

They're also introducing £5 per category limits on cashback and still going to charge the same £5/month fee!

https://www.moneysavingexpert.com/news/ ... s---what-/

Time to switch

Indeed.

[parchedpeas]

Drop to the 123 lite account, you pay £1 but you keep the cashback element which should still return a few pennies each month, especially if you can overpay your utilities such as gas and electricity.

[planteria]

i'm not with Santander, but if i was i'd be on the way out..