Previous interest rates
Previous interest rates
These rates are provided for information only.
These were the interest rates we paid on balances that were in credit.
| Date | Account | Balance | AER | Gross (before tax each year) | Net (after tax each year) |
| Prior to 06.12.2009 |
Ultimate Reward Current Account |
The first Any amount over £2,500 |
2.50%
0.10% |
2.47%
0.10% |
1.98%
0.08% |
| Prior to 06.12.2009 | Current Account | Any amount | 0.10% | 0.10% | 0.08% |
| Prior to 20.02.2009 | Student Current Account | Any amount | 2.02% | 2.00% | 1.60% |
| Prior to 06.12.2009 | Cardcash^ (People under 18) |
Any amount | 1.51% | 1.50% | 1.20% |
| Prior to 06.12.2009 | Expresscash (11-15 year olds) |
Any amount | 1.51% | 1.50% | 1.20% |
The annual equivalent rate (AER) shows what the interest rate would be if we paid interest on the full balance once a year.
The gross rate (before tax each year) is the rate of interest we pay before we take income tax at the rate set by law.
The net rate (after tax each year) is the amount of interest we would pay after taking off tax (currently at 20%). This may change in the future.
These were the interest rates we charged on overdrafts:
| Date | Account | Amount of planned overdraft |
Planned overdraft |
Unplanned overdraft |
| Prior to 06.12.2009 | Ultimate Reward Current Account | Up to £300 |
Interest-free |
2.13% a month (28.8% EAR) |
| Prior to 06.12.2009 | Ultimate Reward Current Account | Over £300 |
1.50% a month |
2.13% a month (28.8% EAR) |
| Prior to 06.12.2009 | Current Account | Any amount |
1.50% a month |
2.13% a month (28.8% EAR) |
| Prior to 06.12.2009 | Student Account | Up to £3,000 |
Interest-free |
1.82% a month (24.2% EAR) |
| Prior to 06.12.2009 | Student Account | Over £3,000 | 0.58% a month (7.2% EAR) |
1.82% a month (24.2% EAR) |
| Prior to 06.12.2009 | Cardcash^ (People under 18) |
Does not apply | Not available | 2.20% a month (29.8% EAR) |
| Account | Amount of planned overdraft | Planned overdraft |
Unplanned overdraft |
| Expresscash (11-15 year olds) |
Does not apply | Not available | Not available |
EAR is the equivalent annual rate. This is the actual annual cost of an overdraft. It does not take into account fees and charges. Halifax current accounts and services are offered subject to status. Overdrafts are repayable on demand.
^Please note that we don't pay interest on balances that are in credit in Cardcash accounts held by customers over 18.
