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.

Summary box for the Reward Bonus Saver

What is the interest rate? expandable section

Earn 4.20% AER/4.12% gross variable interest on balances from £1 if 3 or less withdrawals are made in the 12 months after opening .
Earn 1.35% AER/1.34% gross variable interest 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 fourth withdrawal until the end of the account year.

Interest is paid monthly, on the same date you open your account.
Can Halifax change the interest rate? expandable section

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.
What might the future balance be? expandable section
For example, if you deposit £1,000 when you open the account and make no withdrawals, the balance after 12 months will be £1041.98.

If you deposit £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 £979.83.

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.
How do I open and manage my account? expandable section
This account can be opened and managed:
- online
- on our app
- in branch
- by phone.
You can open this account if you're:
- a Reward Current Account or Ultimate Reward Current Account holder
- aged 18 or over
- a UK resident.
Bear in mind:
- You can have up to five Reward Bonus 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.
- If you change your mind, you can cancel the account free of charge within 30 days of opening.
Can I withdraw money? expandable section

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 3 or less withdrawals in the twelve months from opening. If you make 4 or more withdrawals, you’ll get a lower interest rate from the month you make the fourth withdrawal until the end of the account year.

Closing your account counts as a withdrawal.

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

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

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.

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 Reward Bonus Saver without needing to open a new account.