Halifax cash Isa 'allows people to establish savings habit'

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Halifax cash Isa 'allows people to establish savings habit'

Fri 24th Sep 2010

A new cash Isa released by Halifax could help consumers get into the habit of saving, according to a source from the firm.

Head of savings products Flavia Palacios Umana explained that the financial tool will allow people to enjoy tax-free savings all year, with Halifax current account customers receiving a higher rate of interest.

The Cash Isa Direct Reward gives a return of 2.8 per cent interest - or three per cent for Halifax banking clients - and can be opened online, by telephone or by visiting a branch.

"This is a market-leading Isa, which can be opened from as little as £1. Now it's easier than ever for savers to establish a good savings habit," said Ms Palacios Umana.

Customers will also benefit from there being no withdrawal penalties.

Last month, the same organisation highlighted how its Reward Current Account customers could build up a bonus of up to £120 with the new Clarity Credit Card.

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