Halifax is offering a new cash boost to all customers who save with the UK banking giant.
As of Tuesday (April 4), the bank has launched new rates on its fixed rate savings products, as well as increasing the rate of its limited withdrawal, variable rate ISA Saver Bonus Reward.
People can see their savings rate increase by as much as 30%.
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Andrew Bickers, savings director at Halifax, told the ECHO: “ISAs provide the simplest tax efficient way of saving. With the tax year end almost upon us, these new higher rates help savers get the most out of their ISA allowances.”
Halifax customers can earn the most on their savings with its two-year fixed ISAs, which offer an interest rate of 4.2%
The move comes as finance experts are urging people to "start early" with moving their funds into ISAs. Sarah Coles, head of personal finance at Hargreaves Lansdown, told the Express “the earlier you use your ISA allowance in the tax year, the better”, urging people to take action "as soon as possible", particularly as many allowances are being slashed.
She added: “Starting early gives you the opportunity to set up regular monthly payments into a stocks and shares ISA each month, and automatically spread your investments across the tax year.
"By drip feeding your money into stock market ISAs, you will take advantage of market falls, through what’s known as pound cost averaging.”
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