Rate Drop of 0.65% on Halifax Three Year Fixed Rate Cash ISA Since November 2013

Written by Karen Bryan

Halifax logoWhen I was logged into my Halifax Reward Current Account today, I did a quick check of the interest rates currently being paid on Halifax’s fixed rate Cash ISAs.

I was amazed to see that the 2.5% paid on the Halifax three-year fixed rate Cash ISA paid when I did a transfer on 7 November 2013, had now (1 January 2014) dropped by 0.65% to 1.85%.

That’s a pretty steep fall considering that there has been no change to the Bank of England base rate.

I can only hope that the rates of interest paid on Cash ISA accounts increase by the start of the new tax year in early April 2014.

Rates of interest correct on 1 January 2014.