Interest Rates

Interest Rates

Current interest rates on credit balances
Current interest rates on overdrawn balances
Previous rates

Current interest rates

These are the interest rates we are currently paying on credit balances:

Account	Customer	Balance	AER	Gross p.a.	Net p.a.
Ultimate Reward Current Account	All customers	Up to and Including £2,500 Balances over £2,500.01 or more	5.12% 0.10%	5.00% 0.10%	4.00% 0.08%
High Interest Current Account	Monthly credits totalling £1,000 or more	Up to and Including £2,500 Balances over £2,500.01 or more	5.12% 0.10%	5.00% 0.10%	4.00% 0.08%
High Interest Current Account	Monthly credits totalling less than £1,000	Any amount	0.10%	0.10%	0.08%
moneyback Current Account* * Please note. You can no longer apply for this account.	All customers++	Any amount	0.10%	0.10%	0.08%
Current Account	All customers	Any amount	0.10%	0.10%	0.08%
Student Current Account	Students**	Any amount	2.02%	2.00%	1.60%
Easycash	16+	Any amount	0%	0%	0%
Cardcash^	Under 18s	Any amount	1.51%	1.50%	1.20%
Expresscash	11-15s	Any amount	1.51%	1.50%	1.20%

^Please note that we do not pay interest on credit balances in Cardcash accounts held by customers over the age of 18.

AER stands for Annual Equivalent Rate and illustrates what the interest would be if interest was paid and compounded each year.

The gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

Net is the amount of interest which would be payable after allowing for the deduction of tax specified by law (currently 20%).

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These are the interest rates we are currently charging on overdrawn balances:

Account	Customer	Variable Arranged overdraft	Variable Unarranged overdraft
Ultimate Reward Current Account	Overdrafts over £300	1.06% per month (13.35% EAR+)	2.13% per month (28.8% EAR+)
High Interest Current Account	Monthly credits totalling £1,000 or more	1.24% per month (15.9% EAR+)	2.13% per month (28.8% EAR+)
High Interest Current Account	Monthly credits totalling less than £1,000	1.50% per month Typical (19.5% EAR+)	2.20% per month (29.8% EAR+)
moneyback Current Account* * Please note. You can no longer apply for this account.	All customers++	0.56% per month (6.9% EAR+)	2.13% per month (28.8% EAR+)
Current Account	All customers	1.50% per month Typical (19.5% EAR+)	2.13% per month (28.8% EAR+)
Student Current Account	Students** Overdrafts of up to £2,750	Interest-free (0% EAR+)	1.82% per month (24.2% EAR+)
Student Current Account	Students Overdrafts over £2,750*	0.58% per month (7.2% EAR+)	1.82% per month (24.2% EAR+)
Easycash	All customers	Not available	Not available
Cardcash	All customers	Not available	2.20% per month (29.8% EAR+)
Expresscash	All customers	Not available	Not available

** 'Student' is defined in the Halifax Bank Account conditions.

*** Arranged student overdrafts over £2,750 will be charged interest on the whole of the overdrawn balance.

+ EAR is the Equivalent Annual Rate

++ To earn moneyback monthly credits totalling £1,000 or more must be made

If you have an arranged overdraft you must pay your salary (grant cheque, student loan or parental contribution if you are a student) or other regular credit into your account. Minimum overdraft amount £100 (overdrafts, interest and charges which you owe are repayable on demand).

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Next Steps

If there’s anything you don’t understand or can’t find, please don’t hesitate to give us a call on 08457 20 30 40 8am-8pm, 7 days a week.

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