Fixed rate savings

Earn a fixed rate of interest by putting your savings away for a longer term.

What is a fixed rate savings account?

Fixed rate accounts aren’t the most flexible savings option, but if you can leave your money in there for anything from one to five years, you’ll benefit from a fixed rate for that term.

Our fixed rate accounts are also fixed term accounts. That’s because the interest rate is fixed for the length of the term you select when you open your account.

You might be able to withdraw money from a fixed rate savings account, but charges could apply, reducing the benefit. Before you select an account, just consider how much flexibility you need.

 

Compare fixed rate savings accounts

Fixed term savings accounts

Account

Interest

Minimum first deposit

Open for

Withdrawals

More info

Account

Interest

4.15% AER/tax free interest for the one year term.

4.35% AER/tax free for the one year term if you already have a Halifax Personal Current Account that has been open for a minimum of 40 days.

4.00% AER/tax free interest for the two year term.

4.05% AER/tax free for the two year term if you already have a Halifax Personal Current Account that has been open for a minimum of 40 days.

3.80% AER/tax free interest for the five year term.

Choose to receive interest monthly, or after each year.

Minimum first deposit

£500

Open for

One, two or five years. Your account will then change to an Instant ISA Saver.

Withdrawals

By account closure or transfer only. Charges apply.

More info

Account

Interest

4.15% AER/gross interest for the one year term.

4.00% AER/ gross interest for the two year term.

An extra 0.20% AER/gross for the one year term or 0.05% AER/gross for the two year term will be added if you already hold a Halifax Personal Current Account that has been open for a minimum of 40 days.

3.80% AER/gross interest for the five year term.

Choose to receive interest monthly, or after each year.

Minimum first deposit

£500

Open for

One, two or five years. Then your account will change to an Instant Saver.

Withdrawals

By account closure only. Charges apply.

More info

Account

Interest

5.50%
AER/gross fixed.

Interest is paid after a year.

Minimum first deposit

£25 to £250 a month

Open for

One year. Everything you save will then be moved to an Everyday Saver account.

Withdrawals

By account closure only.

More info

Account

Interest

4.10%
AER/gross fixed.

Interest is paid after each year.

Minimum first deposit

10% of the agreed property purchase price, up to £50,000

Open for

Three years. Your account will then change to an Instant Saver.  

Withdrawals

No withdrawals or early closure.

More info

Account

Instant Saver

If you have an Everyday Saver, Fixed Saver, Bonus Saver, Reward Bonus Saver, Family Boost Fixed Savings Account or Money Smart savings account with us, it will change into this account at the end of its term.

Interest

1.45%
AER/gross on balances from £1 - £9,999. 

1.50% 
AER/gross on balances from £10,000 - £49,999. 

1.80% 
AER/gross on balances of £50,000 or more.

The interest rate is variable. The rate applies to the full balance. Your interest frequency will stay the same as it was on your previous account.

Minimum first deposit

£1

Open for

No end date.

Withdrawals

Unlimited.

More info

You cannot apply directly for this account.

Instant Saver

 

Account

Instant ISA Saver

If you have an ISA Saver Variable, ISA Saver Fixed, ISA Reward Bonus Saver or ISA Bonus Saver with us, it will change into this account at the end of its term.

Interest

1.45%
tax free/AER on balances from £1 - £9,999. 

1.50%
tax free/AER on balances from £10,000 - £49,999. 

1.80%
tax free/AER on balances of £50,000 or more.

The interest rate is variable. The rate applies to the full balance. Your interest frequency will stay the same as it was on your previous account.

Minimum first deposit

£1

Open for

No end date.

Withdrawals

Unlimited.

More info

You cannot apply directly for this account.

Instant ISA Saver

 

Tax treatment depends on individual circumstances and may change in the future.

Interest on savings

Interest rates can change. However, your rate won’t change once you’ve opened your account. You can check current interest rates online at any time.

Explaining some common terms

AER

As well as making it easier to compare accounts, the Annual Equivalent Rate (AER) helps you to understand how much interest you could earn from your savings in a year.

AER includes the effect of compound interest – essentially the interest you earn on top of any interest that’s already part of your savings balance.

More on AER

Tax free

You don’t usually need to pay tax on interest earned on:

  • ISAs
  • Kids accounts.

Adults can earn a certain amount of tax-free interest on their savings each year, depending on your:

Gross

This is the percentage of interest you’ll earn on savings, pre-tax. Halifax won’t deduct any tax due, so you’ll need to declare and pay anything you owe to HM Revenue and Customs.

Frequently asked questions

Supporting your savings journey

Halifax Savers Prize Draw

Every month, our Savers Prize Draw makes three lucky savers £100,000 better off. Visit the prize draw page for the full draw rules.

Find out how to register

Savings calculators

Work out a monthly savings amount, how long it will take to reach a goal, and understand the future value of your savings using one of our handy calculators.

Calculate your savings

Have you thought about investing?

If you’re willing to accept more risk, investing your money could give you a higher return on your savings. Compare accounts to find the right option for you.

More on investing

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.

FSCS logo 

Visit our FSCS page

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