The Bank of England Base Rate was further decreased, from 0.25% to 0.10%, on 19th March 2020.
What will the impact of this be for our customers?
We have applied the full, further Bank of England Base Rate reduction of 0.15% to our existing lending products, effective from 20 March 2020. This means that we have now passed both Base Rate reductions, totalling 0.65%, to our lending customers.
We currently offer a very competitive 35 day business savings notice account at a rate of 1.20% and a 95 day business savings notice account at a rate of 1.55% in addition to our 1-year Business Savings Bond paying 1.62%.