Halifax improves its one year fixed rate ISA

Halifax has increased the rate that customers will receive on its one year fixed rate ISA by 0.20%. At 1.60%, the one year ISA saver fixed is now one of the most competitive in the market.

Savers can choose to have their interest paid monthly or yearly on the account and transfers from other providers are allowed on the full Halifax ISA range, which also qualifies for the Halifax ISA promise. In addition the account is eligible for the Halifax Savers Prize Draw, where customers can win a share of £500,000 every month.

Giles Martin, Head of Halifax savings, said: “The latest change in our product range means that customers are able to benefit from a great savings rate with our ISA Saver fixed 1 year term. Saving for the future is really important and we are committed to providing customers with a range of saving options that will help them make the most of their money and practice good savings habits.”

The Halifax ISA Promise means that Halifax pays interest to customers from the day their ISA transfer application is received from other providers. This has resulted in customers saving millions of pounds that would otherwise have been lost in interest.