Halifax savings rates — compare every account, plus switch offers and guides

Who they are

Halifax takes its name from the West Yorkshire town where it was founded as a building society in 1853. By 1913 it had grown into the UK's largest building society, and it demutualised in 1997, becoming a high-street bank that millions of people in the UK still recognise today. Halifax now operates as a trading division of Bank of Scotland, itself a wholly owned subsidiary of Lloyds Banking Group. That matters for savers because Halifax, Bank of Scotland, and Lloyds share the same banking licence - so if you hold savings with more than one of them, your FSCS protection is shared across all three, not stacked separately.

One thing worth knowing right now: it has been announced that Halifax will be rebranded to Lloyds. Existing customers are being migrated across, and Halifax says the underlying products and protections stay the same through the transition - but it is worth keeping an eye on any correspondence you receive.

Savings accounts

Halifax's range covers most bases. The headline account is the Regular Saver, which pays 8.00% fixed for a year on monthly deposits from as little as £25 - one of the higher rates available from a high-street name, though the monthly contribution cap limits how much you can actually earn. Fixed-rate cash ISAs and standard fixed savers both need a minimum of £500 to open. Easy access options include the Bonus Saver and Reward Bonus Saver, both at 3.00% variable with a £1 minimum, and the Everyday Saver at 1.00% - worth checking carefully, as that lower rate can catch people out who let savings drift into the wrong account. For families, there is a Kids' Monthly Saver at 5.50% fixed, a Kids' Saver at 2.25% variable, and a Junior Cash ISA at 2.35% variable. The Family Boost Fixed Savings Account, which pays 5.00% fixed with no access until maturity, is aimed at those helping a family member onto the property ladder.

All Halifax savings accounts carry FSCS protection up to £120,000, except the Stocks and Shares ISA where investments are protected up to £85,000 and any uninvested cash up to £120,000. Remember, that £120,000 limit is shared across Halifax, Bank of Scotland, and Lloyds.

Is it right for you?

Halifax works best for savers who want a familiar high-street name with a broad product menu - particularly those looking to maximise a regular saver or lock money into a fixed cash ISA. The easy access rates are less compelling, so if you park money in the Everyday Saver and forget about it, you could be leaving a fair bit on the table.

Customer service reviews are mixed. The app is generally considered easy to use, and branch staff tend to get reasonable marks for helpfulness, but some customers report frustration with phone and online support for more complex queries. With the Lloyds rebrand under way, it is sensible to stay on top of any letters or in-app messages about changes to your account.

Rates shift regularly, so check the live figures shown on this page before making any decisions.