Joint savings accounts


If you have a shared savings goal, a joint savings account could help you to achieve it. Halifax have plenty of options available, for anyone looking to start saving together.

Setting up a joint account

Online applications must be made in your sole name, but the account can be made joint once you’ve opened it. Just contact us in branch or over the phone.

Available joint accounts

Pool your savings with another person, helping you to reach a shared goal. Both of you will have equal access to build and manage your joint savings pot.

Available joint accounts

Account

Interest

Minimum first deposit

Open for

Withdrawals

More info

Account

Everyday Saver

Open as many as five Everyday Saver accounts, giving you different saving pots.

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. 

Interest is variable and paid after a year. Rate applies to the full balance.

Minimum first deposit

£1

Open for

One year. Your account will then change to an Instant Saver.

Withdrawals

Unlimited

More info

Account

Interest

4.35% AER/gross interest for the one year term.

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

An extra 0.10% 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 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 Saver.

Withdrawals

By account closure only. Charges apply.

More info

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

Interest on savings

Interest rates can change. 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

  • Yes, you can open a joint savings account with another person, regardless of your marital status. You could open a joint account with a partner, family member or even a friend.

    Because both account holders have full access to the account, the most important thing is that you trust the person you’re opening a joint savings account with.

  • A joint savings account could suit many situations and people, including:

    • Couples with a shared goal, such as buying a house or getting married.
    • Children of elderly parents, providing support with financial matters.
    • Parents who want to provide for a child and monitor their activities.

    Just be aware that both account holders will be authorised to deposit and withdraw funds from the account. It’s important that you trust the person you open a joint savings account with.

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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