Halifax unveils 3% fixed-rate ISA

| February 25, 2009 | 1 Comment
Halifax unveils 3% fixed-rate ISA

Halifax this week launched the ISA Direct Reward, a new individual savings account with interest guaranteed at 3.00% AER/Gross for the first 12 months.

The ISA requires a minimum deposit of £1,000, which must be maintained throughout the 12 month period.

Unlimited deposits up to the £3,600 tax-free allowance are allowed, but withdrawals are limited to four in the first year.

Customers can open the account online, by phone, or by visiting a Halifax branch.

Transfers of up to £39,600 from previous ISA funds are allowed.

Flavia Palacios Umana, head of Halifax Savings products, said: “The ISA Direct Reward offers a degree of flexibility not provided by traditional fixed rate offers.

“By launching this product now, we hope to encourage savers to maximise their tax free savings in both the 2008/09 and 2009/10 tax years.”

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  1. Mrs. Margaret Duncan says:

    I am most distressed today to be told Halifax no longer is part of Bank of Scotland.As an exsisting customer..Halifax should inform you of the changes. I was told to go to a Halifax branch….there is not one in Scotland. No concideration for people in their seventy,s who now can only comunicate by phone.

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