Summary box for Everyday Saver
1. What is the interest rate?
It’s a variable rate, as shown in the table below
- Your interest is paid annually on the anniversary of the account opening.
2. Can Halifax change the interest rate?
As this account pays a variable rate of interest the rate can change over time. For example we might review the interest rate if the Bank of England bank rate changes. We’ll always let you know of any planned changes to the rate. Our account conditions explain when and how we do this.
3. What might the future balance be?
Below is an example of what the future balance might be, after interest has been paid:
||Balance after 12 months
This example assumes that:
- You don’t withdraw any money and interest isn’t paid out of the account
- The interest rate stays the same
- You make your initial deposit payment on the day you open the account
- You don’t make any further deposits
4. How do I open and manage my account?
This account can be opened and managed in branch, by phone or online.
Opening this account
- You must be 11 or over and resident in the UK
- Online applications must be made in your sole name, but the account can be made joint in branch or over the phone, once opened.
- The minimum opening deposit is £1.
Managing this account
- You can have up to five Everyday Saver accounts at any time
5. Can I withdraw money?
You can make withdrawals from this account and there are no charges for doing so.
After 12 months the account automatically changes to an Instant Saver. See Instant Saver interest rates (PDF).
Before this happens, we'll contact you to explain your options and next steps.
6. Additional information
Gross rate means we won’t deduct tax automatically from the interest we pay on money in your account. It’s your responsibility to pay any tax you may owe to HM Revenue & Customs (HMRC).
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product which quotes an interest rate will include an AER, it makes it easier for you to compare what return you can expect from your savings over time.
Apply for a Regular Saver
Otherwise, you can apply by phone on 0345 726 3646, (Mon-Fri 8am-8pm, Sat 8am-6pm, Sun 9am-5pm) or book an appointment at your local branch at a time to suit you.