On 4 August 2016 the Bank of England announced a decrease in the Bank of England Base Rate from 0.50% to 0.25%.
The Base Rate is set by the Bank of England and it affects the interest rates offered by Banks, Building Societies and other financial institutions. The Base Rate is reviewed monthly and can be increased or decreased by the Bank of England at any time. The Base Rate has been consistently low and until the recent changes, had been unchanged for 7 years.
The Bank of England Base Rate is one of a number of factors we take into account when reviewing interest rates. Any change in the Base Rate will form part of ongoing rate reviews across our savings product range.
If you have a savings account which:
If you are unsure which type of account you hold, please refer to your account terms and conditions.
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