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This comparison simply includes all savings accounts.

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 1.42%

Why we like it: No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes.

Ford Money
Flexible Saver Ford Money
Min deposit £1
Term Instant Access
Interest AER 1.42%

Why we like it: Open with £1. Unlimited deposits and withdrawals. Open an account singly or jointly. Interest can be paid monthly or annually. Eligible deposits covered by UK FSCS.

Aldermore
Easy Access Account Aldermore
Min deposit £1000
Term Easy Access
Interest AER 1.25%

Why we like it: Earn 1.00% gross/AER on balances from £1,000 to £1 million. Unlimited withdrawals without restriction or loss of interest.

Wyelands Bank
Fixed Rate Bond Wyelands Bank
Min deposit £5000
Term 6 Months
Interest AER 1.60%

Why we like it: Save from £5,000. No withdrawals during the term. FSCS Protected

Ford Money
Fixed Saver Ford Money
Min deposit £500
Term 1 Year
Gross AER 2.00%

Why we like it: Minimum deposit £500. Open an account singly or jointly. Interest can be paid monthly or annually. Eligible deposits covered by UK FSCS.

Ford Money
Fixed Saver Ford Money
Min deposit £500
Term 2 Years
Gross AER 2.22%

Why we like it: Minimum deposit £500. Open an account singly or jointly. Interest can be paid monthly or annually. Eligible deposits covered by UK FSCS.

RCI Bank
Fixed Rate Bond RCI Bank
Min deposit £1000
Term 3 Years
Interest AER 2.36%

Why we like it: Save from £1,000 to £1,000,000. No withdrawals before the end of the term. RCI Bank are protected up to a total of €100,000 by the FGDR (Fonds de Garantie Dépôts et de Résolution), the French deposit protection scheme. Apply online.

Vanquis
Fixed Rate Bond Vanquis
Min deposit £1000
Term 4 Years
Interest AER 2.50%

Why we like it: Minimum deposit £1,000. Interest paid monthly or annually. Apply online. Eligible deposits covered by UK FSCS.

Vanquis
Fixed Rate Bond Vanquis
Min deposit £1000
Term 5 Years
Interest AER 2.70%

Why we like it: Minimum deposit £1,000. Interest paid monthly or annually. Apply online. Eligible deposits covered by UK FSCS.

Halifax Fixed Rate ISA

 An Individual Savings Account (ISA) is a tax efficient way to save, as it lets you pay little or no tax on the interest of your savings and investments; making them a popular choice for saving large amounts of money.

They have become less popular since the new PSA (Personal Savings Allowance) has allowed lower rate tax payers to save up to £1000 tax-free and higher rate tax payers up to £500. As many current accounts are now offering competitive rates of interest, many people are moving away from ISAs.

However, as your tax-free amount is much higher in an ISA, there are still opportunities for savers to make the most of their money.

What do Halifax offer?

Halifax offer a good deal with their ISA and provide a one year fixed term rate, as opposed to a 3-5 year plan found in many other banks.

You are able to save and earn interest on £500 to £20,000 in the 2017/18 tax year.

  • ISA transfers into Halifax cash ISAs benefit from their ISA Promise. As part of this, they'll pay you interest while your funds are being transferred (provided they're free to move)
  • Qualifying account for the Halifax Savers Prize Draw, a monthly chance of winning one of 3 top prizes of £100,000, if you register and hold £5,000 in qualifying accounts during the whole calendar month before the draw
  • Online banking, so you can view and manage your savings easily, as well as phone and branch banking
  • Existing ISA balances can be transferred into this account from another ISA provider, as long as you use their ISA Switching service

You will not be able to withdraw from or close the account before the agreed term is up;early account closure will result in the loss of interest. You will need your national insurance number before you apply and all deposits and transfers are required within 60 days of account opening.

Why use an ISA?

Paying into an ISA is called ‘subscribing’. You can subscribe to one of each type of ISA each tax year, providing you do not subscribe more than your annual ISA allowance. For the 2017/2018 tax year that runs from 6th April 2017 to 5th April 2018 your annual ISA allowance is £20,000.

ISAs are a good idea whatever your savings goal. With certain types of cash ISAs, you have instant access to your money, which makes it a flexible way to plan your finances.

It’s also important to remember that ISA allowance limits apply to everyone on an individual basis, so if you’re married or in a relationship, you can both hold your own ISA, each with the full allowance.

Halifax are offering a good rate of interest on their account but they are currently not the highest on the market. Their one year plans are a very attractive way to start saving without making a long term commitment.

Latest news

Pensioner Bond Maturity - 5 Ideas For Your Cash

From January 2018 over 900,000 people who invested in pensioner bonds will start to see their bonds mature. Savers who have been enjoying 4% pa are going to get a shock when they look for comparable returns from cash in the current market. We have put together 5 ideas for your cash in 2018

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About us

Simplysavingsaccounts.co.uk is a trading style of Fair Investment Company Ltd.

We've been comparing savings and current accounts for many years so you can trust you're in good hands.