Halifax Isa rates go up

Halifax Isa rates go up

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:

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■ 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.”