Joint savings accounts

If you have a shared savings goal, a joint savings account could help you to achieve it. Halifax have plenty of options available, for anyone looking to start saving together.

Setting up a joint account

Online applications must be made in your sole name, but the account can be made joint once you’ve opened it. Just contact us in branch or over the phone.

Available joint accounts

Pool your savings with another person, helping you to reach a shared goal. Both of you will have equal access to build and manage your joint savings pot.

Available joint accounts
Account	Interest	Minimum first deposit	Open for	Withdrawals	More info
Account Everyday Saver Open as many as five Everyday Saver accounts, giving you different saving pots.	Interest 1.45% AER/gross on balances from £1 - £9,999. 1.50% AER/gross on balances from £10,000 - £49,999. 1.80% AER/gross on balances of £50,000 or more. Interest is variable and paid after a year. Rate applies to the full balance.	Minimum first deposit £1	Open for One year. Your account will then change to an Instant Saver.	Withdrawals Unlimited	More info Learn more and apply for an Everyday Saver
Account Fixed Saver	Interest 4.15% AER/gross interest for the one year term. 4.00% AER/gross interest for the two year term. An extra 0.20% AER/gross for the one year term or 0.05% AER/gross for the two year term will be added if you already hold a Halifax Personal Current Account that has been open for a minimum of 40 days. 3.20% AER/gross interest for the five year term. Choose receive interest monthly, or after each year.	Minimum first deposit £500	Open for One, two or five years. Your account will then change to an Instant Saver.	Withdrawals By account closure only. Charges apply.	More info Learn more and apply for a Fixed Saver

Tax treatment depends on individual circumstances and may change in the future.

Interest on savings

Interest rates can change. You can check current interest rates online at any time.

Explaining some common terms

AER

As well as making it easier to compare accounts, the Annual Equivalent Rate (AER) helps you to understand how much interest you could earn from your savings in a year.

AER includes the effect of compound interest – essentially the interest you earn on top of any interest that’s already part of your savings balance.

Tax free

You don’t usually need to pay tax on interest earned on:

ISAs
Kids accounts

Adults can earn a certain amount of tax-free interest on their savings each year, depending on your:

Starting rate for savings or personal savings allowance.
Personal earnings allowance.
Annual ISA allowance.

Gross

This is the percentage of interest you’ll earn on savings, pre-tax. Halifax won’t deduct any tax due, so you’ll need to declare and pay anything you owe to HM Revenue and Customs.

Frequently asked questions

Can you have a joint savings account if you’re not married? expandable section

Yes, you can open a joint savings account with another person, regardless of your marital status. You could open a joint account with a partner, family member or even a friend.

Because both account holders have full access to the account, the most important thing is that you trust the person you’re opening a joint savings account with.
Who might a joint savings account be best for? expandable section
A joint savings account could suit many situations and people, including:
- Couples with a shared goal, such as buying a house or getting married.
- Children of elderly parents, providing support with financial matters.
- Parents who want to provide for a child and monitor their activities.
Just be aware that both account holders will be authorised to deposit and withdraw funds from the account. It’s important that you trust the person you open a joint savings account with.

Supporting your savings journey

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