Halifax introduced new savings rates across its range of its ISA accounts

SCOTLAND, 4-7-2014 — /EuropaWire/ — In line with the launch of the ‘NISA’ Halifax has today introduced new savings rates across its range of its ISA accounts.

The new rates on the Halifax ISA Saver Fixed, ISA Saver Variable and ISA Saver Online accounts are available to new and existing customers from Tuesday 1st July, and benefit from the newly increased annual ISA limit of £15,000.

The new ISArates available from Tuesday 1st July:

• HalifaxISA Saver Variable at 1.45% (from 1.25%)
• HalifaxISA Saver Online at 1.5% (from 1.3%)
• Halifax Saver Fixed 1 year at 1.55% (from 1.5%)

Richard Fearon, Head of Halifax savings, says: “Saving tax free in an ISA should be a priority, and the newly increased allowance will make a real difference to savers who would have otherwise maxed out their ISA or have additional funds to save.

“The new limit should also encourage more people to build up a savings pot, providing savers with increased flexibility in the amount that they want, and are able to save, and also the way in which they can save tax free.”

In May Halifax announced that, in line with the introduction of the NISA rules, it would help drive a fairer deal for customers when they transfer their stocks and shares ISAs into cash ISAs by extending its ISA Promise.

As a result of this change, from today customers transferring their stocks and shares ISAs into cash ISAs will also get interest from the first day their completed transfer application is received, as long as their funds are free to transfer.

Richard Fearon adds: “The ISA Promise has made a real difference to our Cash ISA customers and means that savers get interest from the moment they instruct the transfer to Halifax. The new ISA rules are great news for savers and by extending our ISA Promise to include stocks and shares ISAs we are ensuring that our customers get the full benefit of these changes.”

Key features of Halifax ISA Saver Fixed:

• Minimum balance £500
• No withdrawals (except account closure)
• Choice of interest paid monthly or annually (only annual interest available online).
• You can choose where your interest is paid: to your ISA, to another account with Halifax or another bank or building society.
• You have 14 days from the date of opening in which you can cancel your account without charge by closure or transfer to another ISA product.
• Qualifying account for the Halifax Savers Prize Draw

Key features of Halifax ISA Saver Online:

• Open from just £1
• Unlimited withdrawals
• Interest paid annually on 5th April, unless 5th April is not a working day then it will be paid the previous working day
• All interest is paid tax free
• Manage and top up your ISA online
• Qualifying account for the Halifax Savers Prize Draw

Key features of Halifax ISA Saver Variable:

• Opening balance of £1
• No restriction on withdrawals
• Interest paid annually on 5th April, unless 5th April is not a working day then it will be paid the previous working day
• All interest is paid tax free
• Manage and top up your ISA online, in branch or over the phone
• Qualifying account for the Halifax Savers Prize Draw

For further details, and to apply, visit a branch or go to http://www.halifax.co.uk/isas/cash-isas/

Rates and product detail quoted are correct as at 01.07.14 and are subject to change.