Halifax raises interest rates on cash ISA range ahead of deadline today | Personal Finance | Finance

With the deadline to use or lose cash ISA allowances taking place today (April 5), Britons will be searching for the more lucrative accounts to get the most out of their savings before the allowance resets. Halifax has launched new rates on its fixed rate savings products and increased the rate on its limited withdrawal, variable rate ISA Saver Bonus Reward.

The new rates came into effect on April 4, and the interest rates across the range are marginally higher for those who already have a current account.

Andrew Bickers, savings director at Halifax said: “ISAs provide the simplest tax-efficient way of saving. With the tax year end almost upon us, these new higher rates help savers get the most out of their ISA allowances.”

Halifax’s variable cash ISA account is now paying Annual Equivalent Rates of up to 3.2 percent, while its fixed savings accounts and fixed rate ISAs are paying AERs from 3.4 percent up to 4.2 percent.

Variable cash ISA

The ISA Saver Bonus Reward Cash ISA, which is a variable account, is now offering a 3.1 percent AERto those without a current account, while those with a current account have been afforded an AER of 3.2 percent, reflecting an increase of 0.02 percent.

Fixed rate ISAs

Halifax’s One Year Fixed ISA is now offering those without a current account an AER of 4.1 percent, while those who do have one are afforded an AER of 4.15 percent.

More to follow …