Halifax Drops Rates on Fixed Rate Cash ISAs

Written by Karen Bryan

Halifax isas 125x1252v2 Halifax Drops Rates on Fixed Rate Cash ISAsI’m glad that we acted fast in opening Cash ISA accounts at the start of the new tax year earlier this month. I though that the rates weren’t great on the 6 April, but we plumped to put our annual allowances of £5,760 into a Halifax ISA Saver Fixed Account which was paying 3%. When I went to the Halifax site to log on yesterday evening, I noticed that the interest rate paid on their 3 year fixed rate Cash ISA has now plummeted to 2.25%.

If you want to build up your tax free savings and are a Santander 123 customer, i.e. hold a Santander 123 Current Account or 123 Credit Card, I’d grab their 123 Exclusive Major ISA  two year fixed rate account, which is currently (24 April 2013) paying 3%. I have the feeling that rate won’t last for long.

The other highest paying two year fixed rate Cash ISAs I could find were:

  • If you’re a Co-op customer you can get 2.6% on a Britannia Fixed Rate ISA.
  • Coventry are offering 2.55% but the minimum deposit is the current tax year’s full allowance of £5,760.

 

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