Investments  

Launch pad: Halifax re-launches 18-month Isa

Launch pad: Halifax re-launches 18-month Isa

Halifax has upgraded its range of fixed rate Isas with the reintroduction of an 18-month account paying 1.6 per cent.

Key Features

The savings provider also increased the rate on its two-year fixed-rate Isa to 1.65 per cent.

The full range of Halifax fixed rate Isas includes a one-year fixed Isa paying 1.40 per cent and a three-year fixed-rate account offering 1.75 per cent, as well as a five-year fixed-rate account paying 2 per cent.

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Savers can choose to have their interest paid monthly or yearly on the full range of 18-month, 1, 2, 3, or 5-year fixed rate Isas. Transfers from other providers are allowed on the full Halifax range.

Accounts must have a minimum balance of £500.

Matt Bartle, spokesman for Halifax Savings, said: “Halifax’s new Isa rates provide options that will suit a variety of savings needs. Our new 18-month Isa gives customers a competitive interest rate as well as the freedom that comes with a relatively short-savings term.”

ADVISER VERDICT

Sebastian Hurst, independent financial adviser for London-based Plutus Wealth Management, said: “I would not fancy the trade-off of very little return and the loss of liquidity. It is hard to get excited about a cash Isa.”