Halifax has increased the rate that customers will receive on its one-year fixed-rate Isa by 0.20 per cent.
At 1.60 per cent, the Isa Saver is now one of the most competitive on the market.
Halifax’s Isa Saver 1 Year requirements:
■ Minimum balance of £500. Account must be funded within 60 days of opening
■ Maximum deposit up to current yearly Isa allowance plus transfers of previous years’ allowance
■ Part withdrawals are not allowed
The features of the Isa Saver 1 year:
■ Available in branch, over the phone and online
■ Interest paid annually or monthly
■ Interest remit is allowed
■ The customer will receive a maturity letter a month before the account matures, informing them of their options and requesting maturity instructions.
Adviser verdict
“The introduction of this one-year fixed Isa comes with a fairly decent rate for customers. At 1.60 per cent, it has a competitive rate that allows customers to save for the future.”
