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Understanding the Base Rate
How the Base Rate affects your savings can seem complex. We're here to help break down the facts.
The recent announcement
On 6 February 2025, the Bank of England announced a decrease in the Bank of England Base Rate from 4.75% to 4.50%.
What is the Base Rate?
The Base Rate, or Bank Rate impacts interest rates from banks and other financial institutions. The Bank of England sets it, regularly reviews it and can increase or decrease it at any time.
Check what your interest rate is
It's good to know you can check on your account anytime with our online services. To view your current interest rate, simply log in to online banking or use the mobile or iPad app.
If you don’t use these services, you can find your interest rate.
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