Halifax

Halifax savings rates

Halifax offers a broad range of savings accounts with interest rates up to 5.5%.

4.0 ★★★★★ (183 reviews) Write a review
Customer rating
★★★★★
Satisfaction survey
Great for kids’ savings accounts with a market leading rate
Adult savings rates are not as competitive as other providers

Formerly the UK’s largest building society, now a hugely popular arm of the Lloyds Banking Group, Halifax genrally matches other big banks for selection. BUT, it rarely attracts new customers through table-topping savings rates (perhaps leaning on its competitive mortgage deals or current account switch offers). Plus, some of its best easy-access savings rates are reserved for customers with pay-monthly current accounts (frown). Here’s the current Halifax range.

Easy access savings accounts

Table: sorted by interest rate
Halifax's best easy access rate of 4.2% is significantly lower than today's market-best rate of 8%.
Name Product Account type Withdrawals Min. opening balance Interest rate Deposit protection Open via Incentive Apply link
Halifax – ISA Reward Bonus Saver
Cash ISA
Instant access
£1
4.2% AER variable
FSCS logo
protected
Open via: branch, website, mobile app, telephone
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Halifax – Reward Bonus Saver
Variable
Instant access
£1
4.2% AER variable
FSCS logo
protected
Open via: branch, website, mobile app, telephone
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Halifax – ISA Bonus Saver
Cash ISA
Instant access
£1
4.1% AER variable
FSCS logo
protected
Open via: branch, website, mobile app, telephone
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Halifax – Bonus Saver
Variable
Instant access
£1
4.1% AER variable
FSCS logo
protected
Open via: branch, website, mobile app, telephone
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Halifax – ISA Saver Variable
Cash ISA
Instant access
£1
1.45% AER variable (on first £9,999)
FSCS logo
protected
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Cash ISAs

Table: sorted by interest rate
Halifax's best cash ISA rate of 4.7% is slightly lower than today's market-best rate of 5.71%.
Name Product Interest rate Minimum investment Interest paid Withdrawals Deposit protection Open via Incentive Table product description Apply link
Halifax – ISA Saver Fixed
4.7% AER fixed for 1 year
£500
Monthly
Withdrawals not permitted
FSCS logo
protected
Open via: branch, website, mobile app, telephone
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Halifax – ISA Saver Fixed
4.7% AER fixed for 1 year
£500
Anniversary of account opening
Withdrawals not permitted
FSCS logo
protected
Open via: branch, website, mobile app, telephone
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Halifax – ISA Saver Fixed
4.6% AER fixed for 1 year
£500
Monthly
Withdrawals not permitted
FSCS logo
protected
Open via: branch, website, mobile app, telephone
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Halifax – ISA Saver Fixed
4.6% AER fixed for 1 year
£500
Anniversary of account opening
Withdrawals not permitted
FSCS logo
protected
Open via: branch, website, mobile app, telephone
Go to site
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Halifax – ISA Saver Fixed
4.55% AER fixed for 2 years
£500
Monthly
Withdrawals not permitted
FSCS logo
protected
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Fixed-rate bonds

Table: sorted by interest rate
Halifax's best fixed-rate bond rate of 4.7% is slightly lower than today's market-best rate of 5.85%.
Name Product Interest rate Invest Interest paid Withdrawals Open via Deposit protection Open via Incentive Table product description Apply link
Halifax – Fixed Saver
4.7% AER fixed for 1 year
£500 - £9,000,000
Monthly
Withdrawals not permitted
Branch, website, mobile app, telephone
FSCS logo
protected
Open via: branch, website, mobile app, telephone
Go to site
View details
Halifax – Fixed Saver
4.7% AER fixed for 1 year
£500 - £9,000,000
Anniversary of account opening
Withdrawals not permitted
Branch, website, mobile app, telephone
FSCS logo
protected
Open via: branch, website, mobile app, telephone
Go to site
View details
Halifax – Fixed Saver
4.6% AER fixed for 1 year
£500 - £9,000,000
Anniversary of account opening
Withdrawals not permitted
Branch, website, mobile app, telephone
FSCS logo
protected
Open via: branch, website, mobile app, telephone
Go to site
View details
Halifax – Fixed Saver
4.6% AER fixed for 1 year
£500 - £9,000,000
Monthly
Withdrawals not permitted
Branch, website, mobile app, telephone
FSCS logo
protected
Open via: branch, website, mobile app, telephone
Go to site
View details
Halifax – Fixed Saver
4.55% AER fixed for 2 years
£500 - £9,000,000
Anniversary of account opening
Withdrawals not permitted
Branch, website, mobile app, telephone
FSCS logo
protected
Open via: branch, website, mobile app, telephone
Go to site
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Regular savings accounts

Table: sorted by interest rate
Halifax's best regular savings account rate of 5.5% is significantly lower than today's market-best rate of 8%.
Name Product AER Save Withdrawal notice Interest paid Deposit protection Open via Incentive Apply link
Halifax – Regular Saver
5.5% fixed for 1 year (on first £3,000)
£25 to £250 per month
1 year bond
Anniversary of account opening
FSCS logo
protected
Open via: branch, website, mobile app, telephone
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Overview of Halifax savings

Savings account types include Easy access, cash ISAs, fixed-rate bonds, regular savers
Best easy access rate 4.2%
Best cash ISA rate 4.7%
Best fixed-rate bond rate 4.7%
Best regular saver rate 5.5%
Fixed bond terms 1 year - 5 years
Opening options Branch, website, mobile app, telephone
FSCS protection

Bearing the name of the Yorkshire town it was born in, Halifax began life as a building society in 1853. It was then the UK’s largest building society for much of the twentieth century. These days it’s a bank, and is part of the Lloyds Banking Group, having been bought by the financial services group in in 2009.

Didn’t find the account type you were looking for? Check our other guides:

How do I decide which account is for me?

Firstly, you need to decide what you’re looking for in a savings account. How often are you planning to draw out money? How much money can you afford to save each month?

You need to work out what you need before comparing the different offers available for certain types of savings accounts. Once you’ve done that, it’s useful to look at:

  • Interest rates
  • Fees (If there are any.)
  • Access to cash (If you need quick access, for instance.)
  • Rewards and loyalty schemes (If you’re into add-ons or switching bonuses.)

Can I open a Halifax savings account online?

Yes, you can open and manage a Halifax savings account online, in a branch or over the phone. You can open kids savers online too.

Halifax customer reviews

In our 2023 customer satisfaction survey, Halifax scored 4 stars out of 5, with 76% of customers saying they’d recommend the brand to a friend.

Customers in our survey commented positively on Halifax’s “helpful staff”. Several also found their Halifax savings account easy to use and set up. One commented: “My online savings account is easy to use, and it is easy to transfer money to and from different accounts”. However, several customers felt Halifax’s interest rates could be better.

The Halifax app has a rating of 4.8 out of 5 from over one million reviews on the App Store. On Google Play, the app has a score of 4.1 from around 213,000 Android app users (last updated June 2023).

What are the pros and cons of banking with Halifax?

Pros

  • Online/app/phone/in-person banking. Access your Halifax savings accounts online, in the app or over the phone. You can even head into a branch too.
  • Flexibility. As an established bank Halifax offers a range of savings options, whatever your situation.
  • Quick application. Open an account online quickly and easily.
  • Good rates for kids. Halifax often has market-leading rates on kids savers.
  • Savers prize draw. If you hold over £5,000 in savings with Halifax, you could be in with a chance of winning a prize payout.

Cons

  • Better rates elsewhere. Many of Halifax’s easy access and ISA savings rates are very low. You’ll be able to get better rates elsewhere, particularly when it comes to adult savings options in particular.

Bottom line

Whether you want to lock away your money for a fixed amount of time, or need to be able to access it whenever required, Halifax offers the range to be able to support you. However, the savings rates on offer are mostly pretty poor and can easily be beaten by a wide range of other mainstream or digital challenger banks.

Against a backdrop of rising living costs, inactivity or missguided loyalty can come at a cost. Halifax (along with several other banks) has been accused of not passing on increases to customers when the Bank of England base rate has gine up.

Yes, there’s a monthly savings prize draw… which may be enough to dissuade some people from putting their savings elsewhere. But the most reliable way to maximise your precious savings returns will be to check today’s best savings rates across the board.

Frequently asked questions

Savings ratings

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Our customer satisfaction scores ("Customers say") are based on a survey of 2,224 customers carried out in December 2022.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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2 Responses

    Default Gravatar
    KerriMay 9, 2019

    I would like help to open a savings account.

      AvatarFinder
      JhezMay 9, 2019Finder

      Hello Kerri,

      Thank you for your comment.

      To open a Halifax Savings account, you may do this online (through their website), in a branch or over the phone. Please make sure that you have your proof of identification and proof of address handy.

      Regards,
      Jhezelyn

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