BANK ACCOUNTS, CREDIT CARDS, Halifax Credit Card

Halifax increase interest rates on Fixed Online saver accounts

Halifax has announced that it will increase the interest rates on its four and five year Fixed Online Saver accounts.

The increased rates will start from today (15 November), and will see interest rates on the four and five year savings accounts increase by 0.2% each.

This means that the annual AER for the four-year savings account will rise from 4.1% to 4.3%. For the five-year savings account, the annual AER will go up from 4.2% to 4.4%.

These new rates are available to both new and existing Halifax customers opening a new Fixed Online Saver account.

Customers who already have a Fixed Online Saver account will retain the terms of their existing deal. If you already have a Fixed Online Saver account you will be able access the new rates, but you will incur an early closure charge.

These offers are among the best on the market, along with Halifax’s two-year Fixed Online Saver Account. The bank also recently launched a market-leading 22 month 0% offer for new credit card customers.

Customers can choose between two balance transfer credit cards. One offering 0% on balance transfers for 22 months, with a 3.5% fee (maximum transfer limit £3,000) and another one giving 0% on balance transfers for 17 months with a 3.0% fee (no maximum transfer limit).

These new deals come as Halifax attempts to rebrand itself through improved offers for new and existing customers, and a nationwide advertising campaign.

"Halifax has long been a brand to be proud of, and now is the time to move forward and build on that. We intend to shake up the High Street with new and existing offers that challenge the norm, and we need a brand to match that,” said David Nicholson, Group Director of Halifax Community Bank.

Tags: BANK ACCOUNTS, CREDIT CARDS, Fixed Online saver accounts, Halifax, interest rates