Personal finance: Loose change

THE HALIFAX has become the first bank to sell one million ISAs. More than 800,000 of those are the bank's cheap cash ISA, the Halifax ISA Saver, which is basically just a tax-free savings account.

Cash ISAs are attracting more, and younger, savers than the Tessas they replace. Under-35s made up just 3 per cent of Tessa holders, but account for 14 per cent of ISA Saver customers. Three out of every five ISA Savers were sold to women.

The Halifax's millionth ISA buyer, 28-year-old Julia Gibbons, of Southfields, London, won a weekend break to add to her tax savings. Around 200,000 customers have opened a Halifax ISA Investor account, the Halifax's equity ISA, which is available in both CAT (Charges Access Terms) standard and non-CAT standard form. Those applying include the majority of previous Halifax PEP customers as well as new investors.