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Halifax Launches Premium Bonds Rival

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http://www.telegraph.co.uk/finance/personalfinance/savings/8778715/Halifax-launches-Premium-Bonds-rival.html

Every month the bank will award cash prizes of up to £100,000 to randomly selected savers. To qualify, savers must be aged over 18 and have at least £5,000 on deposit with Halifax or Bank of Scotland, although this sum does not all have to be in the same account.

The odds of winning a prize are expected to be higher than with Premium Bonds, where each £100 holding has a 240 to 1 chance of scooping a prize each month. However, unlike with Premium Bonds, savers who don't win will still receive interest as normal on their accounts.

Halifax will give away three £100,000 cash prizes each month, 100 prizes worth £1,000 and 1,000 prizes at £100 – a total of £6m a year.

But as the bank won't be disclosing how many of its savers have registered for the draw, accurate odds cannot be calculated

Certainly an incentive to save £5k in the bank, sounds like a risk free bet reading this.

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I wonder why?

Are they desperately in need of cash, or are they suffering people moving deposits into the stock market in seach of a higher yield, or is it just an attempt to justify paying less interest than other providers...? Interesting.

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you need 5k and also need to be thick enough not to be able to work out the difference between real inflation and the rate of return.

thats still quite a lot of people though....

http://www.thisismoney.co.uk/money/saving/article-2039996/Halifax-launches-new-Premium-Bond-style-500k-monthly-tax-free-prize-draw-savers.html

All the prizes will be in cash, paid tax-free into an account of the customer's choice, and be in addition to any interest they ordinarily earn.

All over-18s with £5,000 or more in Halifax savings accounts can register for draws which will run for a 'minimum of twelve months' starting this December. If they don't register, though, they will not be entered.

Is any account giving a greater rate of return?

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no offence to you, but i wouldnt / havent even clicked on the link if its from a bankrupted bank, then its like a knock on the door from a man in a suit. its a bill. no man in a suit has ever knocked on my door and given me money, so i havent answered it for a few years now to strangers.

same for banking offers. you know they are smeggy because all they are doing is trying to claw what they can.

gold has always worked for me. it levels the field. they have to buy gold at the same rate.

in fact i should start a bank offering 8%.

use deposits to buy gold then pay out the 8% from the usual 20% return on gold.

then id give myself a massive bonus and get me some west london horsey fanny..

a bit geeze. a little bit whrrr whaaah.

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no offence to you, but i wouldnt / havent even clicked on the link if its from a bankrupted bank, then its like a knock on the door from a man in a suit. its a bill. no man in a suit has ever knocked on my door and given me money, so i havent answered it for a few years now to strangers.

same for banking offers. you know they are smeggy because all they are doing is trying to claw what they can.

gold has always worked for me. it levels the field. they have to buy gold at the same rate.

in fact i should start a bank offering 8%.

use deposits to buy gold then pay out the 8% from the usual 20% return on gold.

then id give myself a massive bonus and get me some west london horsey fanny..

a bit geeze. a little bit whrrr whaaah.

I agree it's a desperate measure by the bank, but if you've got a large amount of savings risking £5k on this is surely a decent bet?

Again for those with small savings around the £5k mark it's possibly also a decent gamble.

Nothing is risk free and the Halifax shouldn't exist now but for me it's worth the risk.

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I agree it's a desperate measure by the bank, but if you've got a large amount of savings risking £5k on this is surely a decent bet?

Again for those with small savings around the £5k mark it's possibly also a decent gamble.

Nothing is risk free and the Halifax shouldn't exist now but for me it's worth the risk.

your one of the 68 million then....?

eeeeehhh. your buying back what was took from you !!

strange times these...

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no man in a suit has ever knocked on my door and given me money, so i havent answered it for a few years now to strangers.

You've missed the winner's bloke from Camelot twice...

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your one of the 68 million then....?

eeeeehhh. your buying back what was took from you !!

strange times these...

I already bank with them, the choice mostly appears to choose between one screwed bank or another.

The reward account so far has already contributed several hundred pound to paying off my mortgage.

If another banks offers me a greater incentive I'll take it.

It's all potentially worthless tokens at the end of the day. Gold is no different.

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People generally have a distorted view of probabilities. Everyone thinks they will win the lottery. A good card to play, and HBOS have little to lose, and a lot to gain.

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So on average what rate of interest is it going to be the equivalent of? See how it stacks up like that compared with other offers (taking into account that it's the Halifax, so that's a bit of extra risk) then decide whether to bother or not.

Wonder how many people they hope to sell a loan to for putting into this scheme? :D

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I already bank with them, the choice mostly appears to choose between one screwed bank or another.

The reward account so far has already contributed several hundred pound to paying off my mortgage.

If another banks offers me a greater incentive I'll take it.

It's all potentially worthless tokens at the end of the day. Gold is no different.

Aye. I have over £5k in an isa with them, how do you register?

Edit: I should stop being lazy: https://www.saversregistration.co.uk/?=prize-body

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http://www.telegraph.co.uk/finance/personalfinance/savings/8784967/Will-your-savings-account-win-you-100000.html

Halifax is giving its savers a little extra: the chance to win £100,000 in a monthly draw.

The bank is launching a new Premium Bond-style draw – where every month more than a thousand savers will win a tax-free cash prize.

This will put the bank – which has more savers than any other high street provider – head to head with National Savings & Investments (NS & I), which runs the ever-popular Premium Bonds.

Oh my. Another prize- be a banker for a day.

Last time they did this kind of thing was 2008.

Edited by Ash4781

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Do I get entered in the prize draw, being a tax payer they have already have a lot of my money.

Is your money still guaranteed by the government (ie taxpayers) ?

For all this talk of "allowing a bank to fail" the reality is that the politicians have underwritten people's deposits. What is it now - £100k per saver?

Maybe some bright spark at the banks will start giving away a free house each month in their prize draw - get rid of the repossessed properties that way!

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I already have an ISA with them paying 3% with more than £5k. It's already paying one of the best instant access ISA rates. So I'm quite happy with this. Gives me something to dream of without wasting a pound on the scam national lottery.

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  • 336 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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