Halifax Guaranteed Investment Plan withdrawal charges?
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Written on: 25.12.2009 [14:32]
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Baxter
Baxter
Topic creator
Posts: 3
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We invested a considerable sum into a Halifax guaranteed investment plan a couple of years back but are considering withdrawing some for other investments due to the fact that the value has decreased significantly. I heard that you can maintain the guaranteed value of the investment as long as you leave in 3k in the fund. Is this right? In this case are the withdrawals penalty free? |
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Written on: 02.01.2010 [02:45]
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Rokitta
Rokitta
Posts: 5
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Even if you think that your investment has suffered a loss at this point, you shouldn’t withdraw any money from the fund. The guarantee starts once the fund matures so you will have to wait until the end of the stated period before knowing whether or not you have lost out. Taking out money now, when the fund is lower would mean you would suffer a significant loss. Talk to a financial advisor to explain these things if you need more help as it is quite an in depth topic that you need to understand fully before acting on. |
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