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Regular Saver
Watch your savings grow and earn fixed interest for one year.
Who this account is for
- Ideal for savers who want to save £25-£250 every month by standing order or a bank transfer. This needs to reach your account by the 25th of the month.
- You're 16 or over and a UK resident.
- You're looking to open a savings account in your sole name.
The benefits
- Earn 5.50% AER/gross fixed for 12 months from account opening.
- You can change the amount you save at any time. You can top up your savings by bank transfer as long as you don’t exceed the £250 monthly limit.
- Qualifying account for the Halifax Savers Prize Draw.
How it works
- We'll open an Everyday Saver account as part of this application. After 12 months, any money you’ve saved in your Regular Saver plus interest will transfer into your Everyday Saver account. Then your Regular Saver will renew for another 12 months.
- If you close the Everyday Saver, your savings will stay in your Regular Saver and after 12 months we’ll change that to an Everyday Saver.
- You can only access your savings during the 12 month term if you close the Regular Saver account.
Summary box for the Regular Saver
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5.50% AER/gross on balances of £1 or more for 12 months from account opening.
Your interest is paid 12 months after you open the account.
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No. This account has a fixed rate of interest so the rate won’t change during the term.
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For example, if you make regular deposits of £250.00 every month, the balance after 12 months will be £3082.50.
This assumes:
- You don’t withdraw any money and interest isn’t paid out of the account.
- You make regular monthly deposits in the middle of the month.
- Interest is calculated each day. As your balance is lower at the start of the term and grows after each monthly deposit, your daily interest calculation also slowly increases. At the end of the term your interest is added into your savings account.
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You can open and manage this account:
- online
- on our app
- in branch
- by phone.
Bear in mind:
- You must be 16 or over and resident in the UK to open this account.
- You can only open this account in your sole name.
- You can save £25 - £250 every month by one standing order or a bank transfer. This needs to reach your account before the 25th of the month. You can also make a bank transfer to top up your savings as long as the total amount of your deposits does not exceed the monthly limit of £250. The amount that you save each month needs to stay between the £25 to £250 monthly limit.
- We'll open an Everyday Saver account as part of this application. You’ll need to keep this account open. This is so we can transfer your savings into it when your Regular Saver comes to the end of its term. Then your Regular Saver will renew for another 12 months. If you close the Everyday Saver, your savings will stay in your Regular Saver. We'll then change that to an Everyday Saver.
- You can only have one Regular Saver.
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No. You can't access your savings unless you’re closing the Regular Saver account. You can close it before the end of 12 months.
We'll open an Everyday Saver account as part of this application. After 12 months, any money you’ve saved in your Regular Saver plus interest will transfer into your Everyday Saver account. You can make as many withdrawals as you like from this account and there are no charges for doing so.
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Gross rate means we won’t take off tax from the interest we pay on money in your account. You'll need to pay any tax you may owe to HM Revenue & Customs (HMRC).
AER stands for Annual Equivalent Rate. Whenever you see an advert for a savings account that shows an interest rate, you’ll see the AER. This means you can use the AER to compare accounts. It shows what the interest rate would be if your interest was paid and compounded once each year.
For more definitions, view our savings glossary.
Summary box for the Everyday Saver
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1.10% AER/gross on balances from £1 - £9,999.
1.20% AER/gross on balances from £10,000 - £49,999.
1.35% AER/gross on balances of £50,000 or more.
The interest rate is variable. Interest is paid 12 months after you open the account. The rate applies to the full balance.
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Yes. As this account pays a variable rate of interest it can change over time. We’ll always let you know of any planned changes to the rate. Our account conditions (PDF, 210KB) explain when and how we do this. For example, we might review the interest rate if the Bank of England base rate changes.
We’re making some changes to our conditions on 2 June 2025. For details, please see our guide to changes (PDF, 61KB).
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For example, if you deposit £1000.00 when you open the account, the balance after 12 months will be £1011.00.
If you deposit £10000.00 when you open the account, the balance after 12 months will be £10120.00.
If you deposit £50000.00 when you open the account, the balance after 12 months will be £50675.00.
This assumes:
- You make the deposit on the day you open the account.
- You don’t pay more money into the account.
- You don’t withdraw any money or interest.
- The interest rate stays the same.
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This account can be opened and managed:
- online
- on our app
- in branch
- by phone.
If you have a Money Smart savings account with us, it will change into this account at the end of its term.
Bear in mind:
- You can open this account if you're 16 or over and a UK resident.
- You can have up to five Everyday Saver accounts and name each one.
- You need to open the account in sole name but you can make it joint once it's open.
- Open with just £1.
After 12 months the account will change to an Instant Saver.
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Yes. You can make as many withdrawals as you like from this account and there are no charges for doing so.
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Gross rate means we won’t deduct tax from the interest we pay on money in your account. You will need to pay any tax you may owe to HM Revenue & Customs (HMRC).
AER stands for Annual Equivalent Rate. Whenever you see an advert for a savings account which shows an interest rate, you will see the AER. This means you can use the AER to compare accounts. It shows what the interest rate would be if your interest was paid and compounded once each year.
For more definitions, view our savings glossary.
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Savers Prize Draw
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