Halifax, Lloyds Bank and Bank of Scotland, which are all part of Lloyds Banking Group, will be increasing both variable and fixed savings rates over the course of the next two weeks.
Their fixed rate increases will take effect from July 12 and their variable rate increases will take effect from July 20.
These rises follow the Bank of England’s 13th consecutive rise to the base rate. Banks and building societies have since increased interest rates across their savings products to remain highly competitive.
The rises are as follows:
Halifax
Halifax ISA Saver Fixed
- One-year fix – 5.30 percent (up 50bps)
- Two-year fix – 5.35 percent (up 50bps)
Halifax Fixed Saver
- One year fix 5.30 percent (up 50bps)
- Two-year fix 5.35 percent (up 50bps)
Lloyds Bank
Lloyds Bank Fixed Rate Cash ISA
- One-year fix – 5.45 percent (up 50ps)
- Two-year fix – 5.50 percent (up 50bps)
Lloyds Bank Fixed Bond
- One-year fix – 5.45 percent (up 50ps)
- Two-year fix – 5.50 percent (up 50bps)
Bank of Scotland
Bank of Scotland Fixed Rate Cash ISA
- One-year fix – 5.45 percent (up 100ps)
- Two-year fix – 5.50 percent (up 95bps)
Bank of Scotland Fixed Bond
- One-year fix – 5.45 percent (up 100ps)
- Two-year fix – five percent (up 95bps)
The Variable Rates will take effect from July 20.
Halifax
- Everyday Saver & ISA Saver Variable (balances from £1-£9999) – 1.15 percent (up 20bps)
- Everyday Saver & ISA Saver Variable (balances from £10,000-£49,999) – 1.25 percent (up 20bps)
- Everyday Saver & ISA Saver Variable (balances of £50,000 or more) – 1.65 percent (up 35bps)
- ISA Reward Bonus Saver and Reward Bonus Saver – 4.20 percent (up 80bps)
- ISA Bonus Saver and Bonus Saver – 4.10 percent (up 80bps)
- Kids Saver 3.25 percent (up 20bps)
- Junior ISA – 3.50 percent (up 25bps)
- Help to Buy ISA 2.75 percent (up 25bps)
Lloyds Bank
- Easy Saver and Cash ISA Saver (balances from £1-£29,999) – 1.10 percent (up 20bps)
- Easy Saver and Cash ISA Saver (balances from £25,000-£99,999) – 1.35 percent (up 20bps)
- Easy Saver and Cash ISA Saver (balances of £100,000 or more) – 1.80 percent (up 30bps)
- Club Lloyds Saver (balances from £1-£24,999) – 1.50 percent (up 20bps)
- Club Lloyds Saver (balances from £25,000-£99,999) – 1.75 percent (up 20bps)
- Club Lloyds Saver (balances of £100,000 or more) – 2.20 percent (up 20bps)
- Club Lloyds Advantage Saver and Advantage ISA Saver – four percent (up 80bps)
- Child Saver – three percent (up 35bps)
- Junior ISA – three percent (up 25bps)
- Help to Buy ISA – 2.75 percent (up 25bps)
Bank of Scotland
- Access Saver & Access Cash ISA (balances from £1-£9,999) – 1.15 percent (up 20bps)
- Access Saver & Access Cash ISA (balances from £10,000-£49,999) – 1.25 percent (up 20bps)
- Access Saver & Access Cash ISA (balances of £50,000 or more) – 1.65 percent (up 35bps)
- Bank of Scotland Advantage Saver and Advantage ISA Saver – four percent (plus 80bps)
- Childrens Saver – three percent (up 35bps)
- Junior ISA – three percent (up 25bps)
- Help to Buy ISA – 2.75 percent (up 25bps)
Savers can visit the Lloyds Bank, Halifax and Bank of Scotland websites for more information about their savings accounts.
As the base rate sits at five percent, savers are urged to shop around and get the most out of their money.
