Halifax has improved its fixed-rate Isa rates by increasing the interest rate that customers receive by up to 0.50 of a percentage point.
The two-year fixed saver Isa offers a rate of 2.00 per cent, up from 1.5 per cent, while the five-year account now offers a rate of 2.15 per cent.
Savers can have their interest paid monthly or yearly on the variety of savings accounts under the Isa saver fixed range.
The new additions are available for transfers from other providers, where they also qualify for the Halifax Isa promise. This entails the bank paying customers interest from the day their Isa transfer application is received from other providers.
Giles Martin, head of Halifax Savings, said: “These latest changes to our products mean that our customers are able to benefit from great savings rates and the choice of a variety of product terms to suit all savings needs”.
ACCOUNT | RATE |
Two-year fixed saver Isa | 2.00% |
Five-year fixed saver Isa | 2.15% |
Source: Halifax
Adviser verdict
Marvin Evans, a financial adviser with Gloucestershire-based Old Bank Wealth Management, said: “Whether it’s Halifax or Santander or any other bank, when it comes to cash Isas it comes down to chasing rates.
“At the end of the fixed period you have to make sure you’re looking around for the next rate because some providers will be relying on the fact you don’t.”
