Important information.


This information is an overview of the Halifax savings account range. Each account has its own detailed conditions and you should be given a copy of these during the application process. If you open an account over the phone, the conditions will be sent to you before the application process is complete and you can operate the account. If you are applying online the conditions will be available to view and print off for your records. You can also ask for a copy of the conditions applying to your account at any time. The conditions explain how we can change them and the interest rates and charges for the account concerned. Click for further details on charges for certain services.

If you have any queries about Halifax savings accounts, please either call us or contact your local branch - our staff will be happy to help.

These pages are for people who are resident and ordinarily resident in the UK and should not be regarded as an offer or invitation to sell savings and investment products outside the UK. If you are a British expatriate living or working abroad, a non-British national living abroad or a foreign national living, working or studying temporarily in the UK you can save with the Halifax, provided you live in the UK or any jurisdiction that allows you to save with a UK financial company. You should take your own professional advice before opening an account.

We may monitor telephone calls to help us improve our level of service. We may record telephone calls to resolve any enquiries or complaints. Calls to be charged at local rate.  If you are calling us from a mobile phone, rates will vary depending on your network provider.

Halifax is part of Bank of Scotland plc, authorised for accepting deposits by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.  It is entered in the Financial Services Register and its Register Number is 169628. All the information provided here and in our leaflets, and the account conditions, are in English which is the language in which we will communicate with you. English law applies to our relationship with you. Details can be viewed on

If you'd like more general information, the Financial Conduct Authority (FCA), the financial services regulator, provides a range of free consumer booklets and factsheets and a Consumer Helpline.

Visit the FCA website or call 0800 111 6768.

Your Money provided by the Money Advice Service.

The FCA have a wealth of helpful information on a wide range of financial areas. However, they can only provide general information and cannot give specific advice or recommend any company's products, investigate individual complaints or contact firms on behalf of individuals.

This website contains links to sites operated by persons outside our group of companies. We are not responsible for the privacy principles, content or the products and services provided through these sites.

We are members of the British Banker's Association (BBA).

You and your account are protected under the Data Protection Act and covered by the Financial Ombudsman Service.

Important information about compensation arrangements

We are covered by the Financial Services Compensation Scheme (FSCS).  The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations.  Most depositors - including most individuals and small businesses - are covered by the scheme.

In respect of deposits, an eligible depositor is entitled to claim up to £85,000.  For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000).  The £85,000 limit relates to the combined amount in all the eligible depositor's accounts with the bank including their share of any joint account, and not to each separate account.

For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website or call the FSCS on 020 7741 4100 or 0800 678 1100. Please note only compensation related queries should be directed to the FSCS.

Deposits with us are held with Bank of Scotland plc.  Accounts with Bank of Scotland plc include accounts with its divisions and trading names: Halifax, Intelligent Finance (IF), Birmingham Midshires (BM Savings), Bank of Scotland, Bank of Scotland Private Banking, Bank of Scotland Germany, Bank of Scotland The Netherlands, Bank of Scotland Treasury, Lloyds Bank Commercial Banking, Bank of Wales and St. James’s Place Bank.  Some savings accounts under the AA Savings, Saga and Charities Aid Foundation brand names are also deposits with Bank of Scotland plc.  An eligible depositor’s £85,000 limit relates to the combined amount in accounts under all of these names.

If you are unsure whether your account is held with Bank of Scotland plc please check your account literature.


Interest will be paid net of income tax (currently 20%) unless you register your account(s) with us to receive gross interest (without income tax taken off). A separate registration is required for each account you hold. The account(s) can be registered in branch where you will be asked to complete an HMRC R85 form. You can download the R85 from HMRC.

You may be eligible for a lower rate of tax on your savings income based on the thresholds set by the Government. More details about the lower rate and how to reclaim tax deducted are available on HMRC website or from your tax office.

If you are a higher rate taxpayer, additional income tax is due on the interest we pay.

'Tax-free' means free of income tax. Please remember that the favourable tax treatment for ISAs may change in the future.


AER stands for Annual Equivalent Rate and illustrates what the interest would be if interest was paid and compounded each year. On accounts where interest is paid quarterly, this will be slightly higher than the quoted gross rate because of the compound interest earned on the interest paid during the year. As every advertisement for a savings account shows the AER you can easily compare what return you can expect from your savings over time. 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%).

General withdrawal information

You can usually withdraw up to the normal daily cash limit of £2,500 a day per account from any of our branches, or up to £250,000 by counter cheque, subject to account conditions. If you want to withdraw more than these amounts in cash or by cheque, just let your branch know in advance.

Customer complaints

We aim to please - but we know that sometimes things go wrong. If you have a problem or complaint we want to know. In most cases this can be dealt with at your branch or by calling us on 0345 726 3646.

If your complaint is not resolved to your satisfaction, then ring our Customer Complaints Helpline on 0800 072 9779. A copy of our complaints procedure is available on request. Complaints we cannot settle may be referred to the Financial Ombudsman Service.

What happens if you change your mind?

Cancellation under the Financial Services (Distance Marketing) Regulations 2004

You have 14 days starting from the day after your savings account agreement is concluded to give us written notice that you wish to cancel (unless you have opened a fixed rate fixed term account, other than an ISA Saver Fixed).  Notice should be given in writing to: Halifax, PO Box 548, LEEDS, LS1 1WU. (You must repay any monies owed and return any card(s).)  If you do not exercise your right to cancel you may still close your account as set out in your account conditions.  Whenever you cancel, we will repay any credit balance outstanding.  There is no charge for cancellation under these regulations and we will pay interest on the account for the time your money was with us.

Closing a savings account

If you have an account you wish to close you have a couple of options:

  • Some savings accounts can be closed online if you have a balance of £5 or less and another account with us to transfer the closing balance. To check if your account is eligible sign in to Online Banking and look for the ‘Close your account’ link on your Account Statement page. Simply click on this link and follow the onscreen instructions. If you’d like a bit more help, take a look at our online guide which takes you through the full process. 
  • If your account isn’t eligible to be closed online or if you’d prefer, you can close your account by visiting one of our branches.

Non-UK Residents

If you live outside the UK you are no longer eligible to open a new savings account or make certain changes to your existing savings account. For more information please visit our Non-UK residents page.