Halifax launches 2009 Christmas Saver

Halifax this week announced the launch of its 2009 Christmas Saver account aimed at encouraging low income families to put money aside for the Yuletide season.

The monthly deposit account has been designed to foster a culture of saving among users of social banking services - a habit that has declined in recent years.

Halifax will be writing to 70,000 of its social banking customers to promote the account.

Interest is paid at 3.02% AER or 3.00% gross, and the account matures on 31 October 2009.

Savers can invest between £5 and £200 each month, up to a maximum balance of £1,200.

At maturity, customers can request the final balance in cash or shopping vouchers.

Flavia Palacios Umana, Halifax head of savings products, said: “It is important that more families recognise the benefits of regular savings.

“By putting a small amount aside each month in the run up to Christmas, customers will be able to reduce their financial hangover in the new year.”

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