Last year's Halifax 3% fixed rate ISA

d712

Hello

Last year, Halifax provided, on limited offer, a 3% fixed rate ISA where you could make further deposits.

I got one but as it is no longer available, I have no idea what it will revert to at the end of the tax year.

Does anyone know what will happen to its interest rate?

Thanks

Baldur

If you mean the ISA Direct Reward, from memory the rate dropped to the standard Direct ISA rate (something like 0.5%?) after 12 months. Check the Terms & Conditions that you would have received when you opened the account.

opinions4u

d712 wrote: »

Last year, Halifax provided, on limited offer, a 3% fixed rate ISA where you could make further deposits.

I got one but as it is no longer available, I have no idea what it will revert to at the end of the tax year.

Your ISA Direct Reward will become an ISA Direct paying 0.5% with unlimited withdrawals allowed.

If you wish to stay with Halifax but want a better rate than 0.5% you could redesignate to an ISA Direct Reward (2010) paying a variable rate of 2.60% and allowing 4 withdrawals.

Alternatively a fix paying up to 4.25% is an option.

Both choices can be arranged on a phone call.

If you want to go through ISA transfer fun take a look at best buys on a site like Moneyfacts.

d712

Thanks

So does this mean I can transfer the entire balance of that ISA to the 2.6% ISA they've recently introduced and use this year's allowance to fund the Alliance & Leicester Flexible ISA, making deposits as and when I can?

d712

Thanks opinions4u, you were writing the answer to my question before I posted it!

Baldur

d712 wrote: »

....and use this year's allowance to fund the Alliance & Leicester Flexible ISA, making deposits as and when I can?

Yes, on or after 6th April.