Current account - Intelligent Finance

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	Current Account

			An interest rate of 2.75% AER/GROSS variable and the 24h convenience of online and phone banking are just some of the reasons to move your current account to Intelligent Finance. You can even use your current account balance to reduce the amount of interest you pay on your offset mortgage by offsetting. Can form part of an Offset plan


	A current account with Intelligent Finance helps your money work harder, every day of the month. This account offers:
		An interest rate of 2.75% AER/GROSS Variable, calculated on the basis of daily balances - one of the UK's highest
		Withdraw up to �300 a day from over 800,000 cash machines all over the world
		Debit card, with �100 cheque guarantee facility
		Hassle free move: our dedicated team will ensure all your direct debits and bill payments are moved over quickly and efficiently - and they'll keep you informed every step of the way
	By offsetting you can use the balance of your current account to reduce the amount of interest you pay on your offset mortgage. For example, if you have �60,000 outstanding balance on an offset mortgage and �1000 in your current account, by not receiving interest on your current account balance, you won't pay interest on �1,000 of the outstanding mortgage balance.


	Compare repayment
	Mortgage amount:		Present savings:
�		�
	Based on a repayment mortgage over 25 years



	Saved by offsetting

These figures are based on the assumption that it is a repayment mortgage, over a 25 year repayment term, the rate of interest is 5.95% (6.1% APR) with a 0.46% discount for 24 months and that the interest rate and the amounts held in the current account and savings remain constant throughout the term of the mortgage. It also assumes that no payment holidays are taken, that no money is borrowed and that the monthly payment is reviewed only when interest rates change but that rates remain the same during the term of the mortgage. Rates correct as at 01.02.05.

Case study

		Julian: �1 in savings means I get the savings rate on my current account


Chip & Pin

		What is Chip & Pin?

What does it mean?

AER:
The total interest you're paid on your savings and current account

Gross rate:
The rate of interest you're paid before the deduction of income tax

View all definitions


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	Intelligent Finance is a division of Halifax plc. Registered in England No.2367076. Registered Office: Trinity Road, Halifax, West Yorkshire HX1 2RG. This site is intended only for people who live in the UK and you must be a UK resident to apply for our products.

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