ENGLAND, UNITED KINGDOM — (Marketwire) — 04/02/12 — Halifax has today as . The savings accounts – available to new and existing customers from Monday 5th March – include a 3.00% Online ISA, a 2.75% Variable Rate ISA, and fixed rates which stretch up to market leading 4.50% for the Five Year ISA Saver Fixed(1).
Customers opting for the new rates will also benefit from the reassurance of the Halifax ISA Promise(2) which revolutionized the ISA market on its introduction in 2010. At its launch Halifax estimated that Cash ISA transfer delays cost customers GBP 24 million each year across the industry and thus promised to pay interest from the day that a customer-s completed ISA transfer application form is received. As a consequence, the bank has so far saved customers who have more than GBP 10 million in otherwise lost interest.
Richard Fearon, Head of Halifax savings, explains: ” and we are therefore very pleased to be able to offer such competitive rates for new and existing customers. All accounts accept the transfer of previous years cash ISA balances, and with great rates available on variable, fixed and online accounts, savers can be sure of finding the right ISA for them at Halifax.”
The new rates follow quickly on the heels of the bank-s recent announcement that it will be offering ten prizes of GBP 100,000 in its May and June in an effort to further encourage savers to take advantage of their tax free ISA allowance(3).
Richard Fearon continues: “When times are hard, and there is no doubting they are for many households, it is even more important to take advantage of tax free savings. At Halifax we want to encourage customers to save not only through competitive rates, but by offering that something extra, whether it-s the added bonus of the Halifax Savers Prize Draw or ensuring savers benefit through our ISA Promise, which has already saved our customers more than GBP 10 million in interest”.
Halifax also announced this month that it will boost its when the person with parental responsibility for the child also has their ISA with Halifax.
For further details, and to apply, visit a branch or go to .
Rates and product detail quoted are correct as at 05.03.12 and are subject to change.
Notes to editors
(1)Referencing Moneyfacts five year fixed rate ISA best buy table, 05.03.2012
(2)The Halifax Cash ISA Promise offers new and existing cash ISA customers a simple three point commitment. The ISA Promise forms part of cash ISA terms & conditions. It reads as follows:
Contacts:
Halifax
Nick Osbourne