Savings Interest Rates, Switch Offers and Guides for Halifax

Who they are

Halifax is a British banking brand that operates as a trading division of Bank of Scotland, itself a wholly owned subsidiary of Lloyds Banking Group. It takes its name from the West Yorkshire town where it was founded as a building society in 1853, and by 1913 it had grown into the UK's largest building society. In 2001, a wave of consolidation led Halifax to agree a £10.8 billion merger with the Bank of Scotland, forming HBOS, and the group was later acquired by Lloyds Banking Group in 2009.

One thing worth knowing: in 2026 it was announced that the Halifax brand will be rebranded to Lloyds. If you are an existing Halifax customer, you will be invited to move across to the Lloyds app and online banking, where you will gain access to Lloyds products for renewals or upgrades without needing to change your sort code or account number.

Savings accounts

Halifax offers a wide spread of savings options, from flexible easy access to locked-away fixed terms. On the fixed side, the ISA Saver Fixed range (1, 2, and 5 years) all sit at 4.10%, while the Fixed Saver 1 Year comes in at 3.80% and the 2 and 5-year Fixed Savers at 4.00%. All fixed accounts require a minimum of £500 and no access until maturity.

The headline account for many savers is the Regular Saver at 8.00%, open with as little as £25 per month - though you will need to be disciplined about access, as funds are locked until the end of the term. For children, the Kids' Monthly Saver pays 5.50% fixed, and there is also a Family Boost Fixed Savings Account at 5.00% for those saving alongside a mortgage arrangement.

On the easy-access side, the Bonus Saver and Reward Bonus Saver both sit at 3.00% variable, with a £1 minimum balance. The Everyday Saver and ISA Saver Variable pay considerably less at 1.00% and 1.05% respectively - so it pays to check you are in the right account.

Eligible deposits with Halifax are protected up to £120,000 by the FSCS - but bear in mind the FSCS applies to the banking group, not individual brands. If you already hold savings with Lloyds or Bank of Scotland, your combined total across all three is still only protected up to £120,000.

Service and access

You can open and manage a Halifax savings account online, through the app, in a branch, or over the phone. The mobile app is straightforward and easy to use, though if you are after advanced budgeting features it is not the first place to look. Customer sentiment is genuinely mixed - Halifax benefits from a fiercely loyal customer base who find it easy to use, especially for products like children's savings or 12-month fixed accounts, but adult savers frequently express dissatisfaction, citing less competitive rates for loyal customers and the impact of branch closures.

Is it right for you?

Halifax works best if you want a familiar, established name with a broad product range under one roof - particularly if you are saving for children or locking money away in a fixed ISA. The Regular Saver rate is genuinely strong for those who can commit to monthly contributions. Where Halifax tends to fall short is on easy-access rates, where the default Everyday Saver lags well behind the best on the market.

There is no current switching offer listed here. If a cash incentive is important to you, it may be worth looking elsewhere first.

As ever, the live rates shown on this page are the most up-to-date figures - check them before deciding, as savings rates can and do change.