Halifax launch labelled a marketing gimmick - papers 18th Feb

The Daily Telegraph quotes Justin Modray of BestInvest as suggesting the new 6% gross interest fixed-rate savings account as a "marketing gimmick" even though it offers the highest rate of interest seen in two years. Modray says the market-leading rate of 6% was "very attractive", according to the Telegraph, but suggests investors won’t get that much benefit because you can “only accumulate the money on a monthly basis” and is therefore just a marketing gimmick to attract savings into the more profitable accounts longer term. This may have something to do with the fact Halifax recogni...