Reward Bonus Saver

An account for Reward or Ultimate Reward Current Account holders. Put your money away and earn 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 interest if 3 or more withdrawals are made in the 12 months after opening. See summary box for details.

How this worksIf 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:

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 Reward Bonus Saver

  • Earn 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.

    Earn 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.

    We pay interest 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 review the interest rate if the Bank of England base rate changes.

  • For example, if you deposit £1,000.00 when you open the account and make no withdrawals, the balance after 12 months will be £1,030.00.

    If you deposit £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:

    • you make the deposit on the day you open the account
    • you don’t add any more money
    • the interest rate stays the same.

  • 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 can open this account if you're:

    Keep in mind:

    • you can have up to five Reward Bonus Saver accounts and name each one
    • You can open this account in your sole name.
    • you can open this account with just £1
    • if you change your mind, you can cancel the account free of charge within 30 days of opening.

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

    You’ll get a higher rate of interest if you make 2 or less withdrawals in the 12 months from opening. If you make 3 or more withdrawals, you’ll get a lower interest rate from the month you make the third withdrawal until the end of the account year.

    If making an online transfer, it can only be made to an existing Halifax current account.

    After 12 months we'll change the account 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 Reward 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 Reward 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 Reward 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 Reward 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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