This comparison simply includes all savings accounts.
Halifax Fixed Rate Bonds
Why we like it: Interest paid annually. Unlimited deposits and withdrawals. Open and manage online. FSCS Protected. Must be UK resident and be aged 18 or older
Why we like it: Instant access to your savings. Unlimited deposits and withdrawals. Interest paid monthly, either to a linked current account, or adding it to your Online Flexi Saver account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Must be aged 18 or older and have a UK address. Must have a linked UK current account. Your eligible deposits with Investec Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: Which? Recommended Savings Provider. No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services. Compensation Scheme (FSCS)
Why we like it: Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2024. Must be UK resident and be aged 18 or older
Why we like it: Interest calculated monthly. Unlimited deposits and withdrawals. Open and manage online. FSCS Protected. Must retain a minimum balance of £20,000 in the account. Must be UK resident and be aged 18 or older
Why we like it: All funds deposited into the RCI Bank E-Volve Savings 14 Day Notice Account will be used to fund pure electric vehicles and charging facilities. Interest paid monthly or annually. Manage account online. UK-based support, seven days a week. Which? Recommended Savings Provider. Unlimited withdrawals subject to 14 days notice. Must be UK resident. Must be aged 18 or older. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: The interest rate tracks the Bank of England (BoE) Base Rate. Interest is calculated on the minimum daily balance and applied to the account on the first day of every subsequent month. Open and manage account online. Your eligible deposits are protected up to £85,000 by the Financial Services Compensation Scheme. The maximum deposit you may pay into any one OakNorth Account is £500,000. The maximum amount (excluding the interest) that you will be allowed to hold on deposit with OakNorth Bank across multiple accounts is also £500,000. Unlimited withdrawals, subject to 95 days notice. Available to individuals, aged 18 or over, who are UK residents
Why we like it: Unlimited deposits and withdrawals. Interest paid monthly: can be added to your Notice Saver or paid to your linked account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Withdrawals subject to 90 days notice. Must be aged 18 or older and have a UK address. Must have a linked UK current account
Why we like it: 3 penalty-free withdrawals in a 12 month period. 3.82% AER (variable tracker) + 0.68% AER 12 month boost. 3.75% gross variable tracker. Interest paid monthly. Deposit and withdraw almost instantly. No fees or charges for holding account. FSCS eligible on your deposits. After 3 withdrawals within a 12 month period the rate will revert to either 3.40% AER (variable tracker with boost applied) or 2.72% AER (variable tracker) for the remainder of the 12 month period since opening the account. Must be UK resident. Must be aged 18 or older
Why we like it: 9 month term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected
Why we like it: Interest paid on maturity. Automatic repayment to your linked account. Maximum deposit £250,000. FSCS Protected. Must have a UK residential address and be aged 18 or older. No withdrawals permitted
Why we like it: 1 year term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected
Is a Halifax fixed rate bond right for you?
A savings account will generally offer the highest rate of interest for relatively small amounts of money.
Fixed rate bonds allow you to earn a guaranteed rate of interest on your savings up to a much higher threshold than that offered on most savings accounts. These interest rates will be fixed for the life of the bond and should help your savings increase in real world value by the time the bond matures.
The most common types of bonds run for 1 year, 2 years, 3 years or 5 years. In general, you will receive a higher rate of interest the longer you are willing to lock your money away. Some providers allow you to remove funds from your account early, but you will usually have to pay a penalty equivalent to a certain number of months’ interest payments.
If you currently have savings which are not earning you a return, placing them into one or more fixed rate bonds can be a relatively simple way to start getting more from your money. You can keep your existing current account alongside a bond, meaning there should be no consequences for your day-to-day banking.
Why choose a Halifax fixed rate bond?
Halifax operates as a trading division of Bank of Scotland, which is in turn a subsidiary of Lloyds Banking Group. Taking out one of their fixed rate bonds offers the following benefits:
- Minimum deposit of £500
- Interest can be paid monthly, annually or at maturity
- Manage your account online, in branch or by phone
Restrictions
Investing in a Halifax fixed rate bond comes with the following conditions:
- No withdrawals can be made until the bond reaches maturity (although you can close the account early in exchange for a financial penalty)
Compare Halifax fixed rate bonds
Halifax currently offer 2 year fixed rate bonds as well as a number of cash ISAs. If you are looking to invest over a longer period, or want to achieve a higher rate of return, you may want to consider alternative providers such as Aldermore.
Getting the best deal on fixed rate bonds
Like all financial products, the interest rates and features offered on fixed rate bonds by different companies change over time. This reflects the constantly shifting market and customer demand. This can make it difficult to keep track of exactly which savings accounts are offering the best value.
Our fixed rate bonds comparison table, above, allows you to easily compare and contrast the most competitive deals currently on the market. This table is frequently updated, so it is well worth checking in regularly to see the latest deals.
Before making a decision, you need to carefully weigh up the level of return you would like to achieve and your financial needs for the foreseeable future. This should allow you to make an informed decision that will work for you in the long term.
