Choose Savings Options Wisely Say Halifax

The Halifax are advising UK consumers to think carefully about what they really want from a savings account before going ahead and signing up.

Good advice emanating from the Halifax savings experts is to consider both the short and long term needs of the saver, since money may be needed with little or no notice in the short term and there will also be timescales to consider over the longer term for when the savings amount will actually be needed.

A Halifax spokesman went on to say that a fixed rate savings account is the best choice for the longer term saver, with a regular savings account ideal for anyone looking at the mid-term period of two to three years. There was also special mention for internet savings accounts, where access can be very quick and rates can also be very attractive thanks to reduced operating costs for the bank.