Do bank deals keep you loyal?

Published on 1 January 1970 by Raffick Marday

Staying loyal could save you money as the big banks strive to become one stop shops, while fighting the growing threat of the supermarkets.

It's reported Santander and Halifax have joined the likes of Nationwide in the recent trend of trying to keep current account customers happy by offering special rates on other products.

Nationwide offers its FlexAccount customers rewards such as a market leading 7.6 per cent on personal loans. Halifax offers discounted mortgage rates and Santander a zero per cent credit card.

Research by Sainsbury’s claims that seven in ten people would consider taking out one of their products, if they were rewarded for doing so.

An industry expert explained how “While no one provider will offer the very best deal in every financial product area, many customers will be prepared to sacrifice a little in terms of rate in return for the convenience of keeping all products under one roof."

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