Everyday Saver.

Summary box for the Everyday Saver

1. What is the interest rate?

0.01% gross/AER variable rate on balances of £1 or more.

Your interest is paid 12 months after you open the account.

2. Can Halifax change the interest rate?

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) explain when and how we do this. For example, we might review the interest rate if the Bank of England base rate changes.

3. What might the future balance be?

For example, if you deposit £1000.00 when you open the account, the balance after  12 months will be £1000.10.

This assumes:

• You make the deposit on the day you open the account.
• You don’t pay more money into the account.
• You don’t withdraw any money or interest.
• The interest rate stays the same.

4. How do I open and manage my account?

This account can be opened and managed:

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

Bear in mind:

• You can open this account if you're 16 or over and a UK resident.
• You can have up to five Everyday Saver accounts and name each one.
• You need to open the account in sole name but you can make it joint once it's open.
• Open with just £1.
• After 12 months the account will change to an Instant Saver. 

5. Can I withdraw money?

Yes. You can make as many withdrawals as you like from this account and there are no charges for doing so.

6. Additional information

Gross rate means we won’t deduct 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).

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 savings glossary.