Halifax savings accounts

Halifax offers a range of financial products which includes credit cards, loans, insurance, mortgages and current accounts.

Under its savings banner, the bank also offers a range of options such as ISAs, fixed rate bonds, regular savings and easy access accounts, which can offer competitive rates both online and offline. However, it’s important to compare any Halifax deals with the wider savings market.

Compare Halifax savings accounts - Ordered by interest rate (AER)

    • Provider/Product name Everyday Saver

      Halifax

      Everyday Saver

    • Interest rate (AER) 0.25% Variable
    • Min/Max opening amount £1 to £9,000,000
    • Notice / Term Notice Period: instant
    • Account type Easy Access Account
    • Access Internet Post Telephone In Branch
    • Sorry, we can't help you to open this account.

      More details

    • Provider/Product name Regular Saver

      Halifax

      Regular Saver

    • Interest rate (AER) 2.00% Fixed
    • Min/Max opening amount £25 to £3,000
    • Notice / Term Term: 12 month bond
    • Account type Regular Saver Account
    • Access Internet Post Telephone In Branch
    • Sorry, we can't help you to open this account.

      More details

    • Provider/Product name Young Saver

      Halifax

      Young Saver

    • Interest rate (AER) 2.00% Variable
    • Min/Max opening amount £1 to £20,000
    • Notice / Term Notice Period: instant
    • Account type Children’s Easy Access Account
    • Access Internet Post Telephone In Branch
    • Sorry, we can't help you to open this account.

      More details

    • Provider/Product name Young Saver

      Halifax

      Young Saver

    • Interest rate (AER) 0.25% Variable
    • Min/Max opening amount £20,001 to £9,000,000
    • Notice / Term Notice Period: instant
    • Account type Children’s Easy Access Account
    • Access Internet Post Telephone In Branch
    • Sorry, we can't help you to open this account.

      More details

    • Provider/Product name ISA Saver Variable

      Halifax

      ISA Saver Variable

    • Interest rate (AER) 0.35% Variable Includes Fixed bonus of 0.10% for 12 months
    • Min/Max opening amount £1 to £ no limit
    • Notice / Term Notice Period: instant
    • Account type Cash ISA Transfer In
    • Access Internet Post Telephone In Branch
    • Sorry, we can't help you to open this account.

      More details

    Great for
    Save up to your ISA allowance for the 2015/2016 tax year, plus transfers in from previous tax years
    Cash ISA transfers in benefit from the Halifax ISA Promise
    But be aware that
    After 12 months, variable rate without bonus will apply, currently 0.25% tax free/AER
    Any money you take out reduces the balance you could achieve at the end of the tax year
    You can save up to your maximum ISA allowance in a cash ISA, a stocks and shares ISA or a mix of the two per tax year
    • Provider/Product name Help to Buy: ISA

      Halifax

      Help to Buy: ISA

    • Interest rate (AER) 2.00% Variable
    • Min/Max opening amount £1 to £ no limit
    • Notice / Term Notice Period: instant
    • Account type Help To Buy ISA Transfer In
    • Access Internet Post Telephone In Branch
    • Sorry, we can't help you to open this account.

      More details

    Great for
    Deposit up to £1,000 within 21 days of opening account and save up to £200 a month (meaning you can save up to £1,200 in the first month)
    The Government will top this up by 25%, so for every £200 saved the Government will top up another £50 bonus, up to a maximum of £3,000
    The bonus will apply to both the amount a person saves and the tax free interest built up during the period the account is open
    But be aware that
    Bonus is only eligible on homes in the UK with a purchase value of £450,000 or less in London and £250,000 or less in all other parts of the UK. Bonus is paid directly to solicitor once you have found your first home
    You must be 16 or over, UK resident for tax purposes and a first time buyer
    It is not possible to contribute to another cash ISA in the same tax year as you contribute to a Help to Buy: ISA

Halifax savings guide

If you need access to your cash and to avoid tying it up in a fixed-rate savings account, then an easy access account is the best option for you. These accounts will often allow unlimited withdrawals without penalty, but they also frequently include a short-term bonus. Once this expires, the rate paid on your savings will suddenly drop, and you’ll be left hunting around for an alternative account.

If you are happy to tie up your savings for a certain period, a fixed-rate savings account may suit. Rates on these tend to be higher than easy access accounts, although you won’t have access to your cash during the fixed-rate period with incurring a penalty.

Before opting for a general savings account, make use of your ISA allowance for tax-free interest.

When you’re picking any savings account consider the pros and cons before placing your money in it, and ensure it suits your needs.

The first £75,000 (as of January 2016) of any savings held with Halifax is protected by the Financial Services Compensation Scheme (FSCS). Remember that this protection applies per bank, not per banking institution so if you also have savings with Bank of Scotland, still only the first £75,000 will be covered. Lloyds TSB, however, which comes under the Lloyds Banking Group, carries a separate license, so savings with that bank will be protected separately up to £75,000 per person.

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