Northern savers making most of Halifax Fixed-Rate Isa Saver

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Northern savers making most of Halifax Fixed-Rate Isa Saver

Savers in the north of England are investing the most in their Halifax Fixed-Rate Isa Saver deals, the bank has stated today, with an average balance of £7,892.

They are followed in the list by customers in the north-west and in Northern Ireland, who have average savings levels of £7,631 and the west of Scotland, where typical savings are around the £7,272 level.

Residents of north-west England and Northern Ireland are the most likely to have a savings account with a set rate, as these two areas account for 18.3 per cent of all Halifax Fixed-Rate Isa Saver customers.

Some 44.9 per cent of Isa savers with Halifax are between the ages of 45 and 64 and 42.7 per cent are over 65, although this latter age range have the highest average balance level of £8,094.

"Everyone has an annual allowance of £3,000 to place in a mini cash Isa, which will earn interest free of tax," said Peter Jackson, head of banking and savings at Halifax.

"With the new tax year just begun, it makes perfect sense to put as much as you can in an account that earns a great rate which is guaranteed for one to four years."

The Halifax Fixed-Rate Isa Saver account is available for terms of one to three years and offers an interest rate of five per cent gross per year.




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