Bonus Saver

Our instant access account which pays more interest if you make fewer withdrawals.

Who this account is for

  • Ideal for savers who want easy access to their money.
  • You can open this account if you are 16 or over. You must also be a UK resident.
  • This account could be ideal for you if you don’t need to make regular withdrawals.

The benefits

  • Earn 4.10% AER/4.02% gross variable monthly if 3 or less withdrawals are made in the 12 month term. How this worksIf you make three or less withdrawals, you’ll get paid the higher rate of interest. Your interest will be paid monthly, on the same date you opened the account.
  • Earn 1.35% AER/1.34% gross variable monthly if 4 or more withdrawals are made in the 12 month term. How this worksIf you make four or more withdrawals, you’ll get a lower interest rate from the month you make the 4th withdrawal until the end of the account year. Interest is paid monthly, on the same date you opened the account.
  • Your interest will be paid monthly, on the same date you opened the account.

How it works

  • Open with just £1. Save and access your money when you want to.
  • Open and manage online, on our app, in branch or by phone.
  • After 12 months the account will change to an Instant Saver

Summary box for the Bonus Saver

  • 4.10% AER/4.02% gross variable monthly on balances from £1 if 3 or less withdrawals are made in the 12 months after opening.

    1.35% AER/1.34% gross variable monthly on balances from £1 if 4 or more withdrawals are made in the 12 months after opening.  This lower interest rate will apply from the month you make the 4th withdrawal until the end of the account year.

    Interest is paid monthly, on the same date you open your account.

  • Yes. As this account pays a variable rate of interest it can change over time. We’ll always let you know of any planned changes to the rate. Our account conditions (PDF, 210KB) explain when and how we do this. For example, we might change it if it costs us more to run this account for you.

  • For example if you put in £1,000 when you open the account, and make no withdrawals the balance after 12 months will be £1040.94.

    If you put in £1,000 when you open the account, and withdraw £10 on the first day of the month, for the first 4 months of the term the balance after 12 months will be £979.58.

    This assumes:

    • The interest rate stays the same for 12 months.
    • You put money in the day you open the account and don’t add more money after that.
  • This account can be opened and managed:

    • online
    • on our app
    • in branch
    • by phone.

    You must be 16 or over, and resident in the UK.

    Online applications must be made in your sole name. You can make it joint by going into branch or calling us after you've opened it.

    You can open the account with between £1 and £9 million

    You can have up to five Bonus Saver accounts at any time.

  • Yes. You can make withdrawals from this account and there are no charges for doing so.

    If you make 4 or more withdrawals you’ll get a lower interest rate from the month you make the 4th withdrawal until the end of the account year.

    Closing your account counts as a withdrawal.

    If you change your mind, you can cancel the account free of charge within 30 days of opening.

    After 12 months the account will automatically change to an Instant Saver. Before this happens, we'll contact you to explain your options and next steps.

  • Gross rate means we won’t deduct tax from the interest we pay on money in your account. You need to pay any tax you may owe to HM Revenue & Customs (HMRC).

    AER stands for Annual Equivalent Rate.  Whenever you see an advert for a savings account which shows an interest rate, you will see the AER. This means you can use the AER to compare accounts. It shows what the interest rate would be if your interest was paid and compounded once each year.

    For more definitions, view our glossary.

Open a Bonus Saver

Please read the summary box and the account conditions (PDF, 210KB) before you start.

Open now

Other ways to apply:

  • By phone on 0345 726 3646
    Lines are open  8am – 8pm, seven days a week. 
    Not all Telephone Banking services are available 24 hours a day, seven days a week. 
  • In branch: Book an appointment at your local branch at a time to suit you.
     

Existing Halifax savings customers

If you’ve got a Halifax easy access savings account you can renew it into a Bonus Saver without needing to open a new account.

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Financial Services Compensation Scheme

Eligible deposits held with us are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK’s deposit guarantee scheme.

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Visit our FSCS page