Bonus Saver

Our instant access account which pays more interest if you make fewer withdrawals. Read the summary box before applying.

The Halifax brand is changing to Lloyds

Learn about the brand change and how it affects Halifax savings accounts.

 

Bank on Lloyds for your next savings account

Halifax and Lloyds are part of the same family of brands. You’ll find a wide range of savings accounts with the same great service from the people you know and trust.  

Lloyds savings accounts


If you use the Halifax app you can continue to apply for a Halifax savings account.

Features and benefits

Earn up to 3.00% AER

Earn 3.00% AER/2.96% gross variable interest if 2 or less withdrawals are made in the 12 months after opening.

You'll earn 0.65% AER/gross variable monthly if 3 or more withdrawals are made in the 12 month term. See summary box for details.

How this worksIf you make 2 or less withdrawals, you’ll get paid the higher rate of interest for the whole term. If you make 3 or more withdrawals, you’ll get a lower interest rate from the month you make the 3rd withdrawal until the end of the account year.

If you make 2 or less withdrawals, you’ll get paid the higher rate of interest for the whole term. If you make 3 or more withdrawals, you’ll get a lower interest rate from the month you make the 3rd withdrawal until the end of the account year.

If you make 2 or less withdrawals within the 12 month term, you’ll get paid the higher rate of interest for the whole term. If you make 3 or more withdrawals, you’ll get a lower interest rate from the month you make the 3rd withdrawal until the end of the account year.

Monthly interest

Your interest will be paid monthly, on the same date you opened the account.

Save the Change®

Save your pennies when you spend with Save the Change®. It makes saving so easy, you’ll forget you’re doing it.

Let's break it down

Who it's for

You can open this account if you are:

  • 16 years or over
  • a UK resident.

How it works

  • Open with just £1. Save and access your money when you want to.
  • You can transfer money out of the account online but only to another Halifax account in your name. You can withdraw your money in a branch.
  • After 12 months the account will change to an Instant Saver. 

Summary box for the Bonus Saver

  • 3.00% AER/2.96% gross variable interest on balances from £1 if 2 or less withdrawals are made in the 12 months after opening.

    0.65% AER/gross variable interest on balances from £1 if 3 or more withdrawals are made in the 12 months after opening. This lower interest rate will apply from the month you make the third 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 £1,000.00 when you open the account, and make no withdrawals the balance after 12 months will be £1,030.00.

    If you put in £1,000.00 when you open the account, and withdraw £10 on the first day of the month, for the first 3 months of the term the balance after 12 months will be £980.04.

    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.

  • You can open and manage your account:

    • Existing customers can open online, in app, by phone, or in branch.
    • New customers open online only.
    • Manage your account online, in app, by phone or in branch.

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

    You can open this account in your sole name.

    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 3 or more withdrawals you’ll get a lower interest rate from the month you make the 3rd withdrawal until the end of the account year.

    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.

  • Savings terms explained

    AER

    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.

    Gross rate

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

    For more definitions, view our glossary.

Open a Bonus Saver

You should read the summary box and the account conditions (PDF, 210KB) before you apply.

Different account conditions may apply depending on when you opened your account.

If you're using the Halifax app

 

Apply in the app

Scan the QR code to get it.

You must be registered for online banking to apply in the app.

Once you’re in, select Apply, Savings then Bonus Saver.



Apply online

Not using the app? You can apply on our website.

Open account

Apply in the app

You must be registered for online banking to apply in the app.

Once you’re in, select Apply, Savings, then Bonus Saver.

Get the app

Apply online

Not using the app? You can apply on our website.

Open account

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.

If you’re using the Lloyds app - head to Lloyds for your next savings account.

Protecting your money

FSCS logo


The Financial Services Compensation Scheme (FSCS) protects up to £120,000 of the eligible money you hold with us.

More about the FSCS

FSCS logo


Protecting your money

The Financial Services Compensation Scheme (FSCS) protects up to £120,000 of the eligible money you hold with us.

More about the FSCS

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