Bank of England raises base rate to 3.50%

On Thursday 15th December 2022, the Bank of England announced a 0.50% increase in its base rate from 3.00% to 3.50%.

We’re making changes to some of our business savings interest rates with these changes set to come into effect from 11 January 2023.

Please see below to find out what your new interest rate will be.

Business Customer Interest Rates from 11 January 2023
Account Type Issue Number Annual AER Annual Gross p.a. Monthly AER Monthly gross p.a.
Business Instant Saver
 1-8
1.30%
1.30%
1.26%
1.25%
Business Instant Saver 
9
0.65%
0.65%
0.65%
0.65%
Business Instant Saver 
10
0.35%
0.35%
0.30%
0.30%
LA Instant Saver
 1-2
1.30%
1.30%
1.26%
1.25%
LA Instant Saver
3
0.65%
0.65%
0.65%
0.65%
LA Instant Saver
4
0.35%
0.35%
0.30%
0.30%
Business 35 Day Saver
1
2.75%
2.75%
2.73%
2.70%
LA 35 Day Saver
1
2.75%
2.75%
2.73%
2.70%
Business 45 Day Saver
1-2
2.80%
2.80%
2.79%
2.75%
Members 45 Day Saver
1
2.80%
2.80%
2.79%
2.75%
Business 95 Day Saver
 1-9
2.85%
2.85%
2.84%
2.80%
Business 95 Day Saver 
 10
1.90%
1.90%
1.92%
1.90%
Business 95 Day Saver 
 11
1.90%
1.90%
1.87%
1.85%
LA 95 Day Saver
 1-3
2.85%
2.85%
2.84%
2.80%
Business 125 Day Saver
 1-2
2.95%
2.95%
2.94%
2.90%
Business 125 Day Saver 
 3
2.00%
2.00%
2.02%
2.00%
Business 125 Day Saver 
 4
2.00%
2.00%
1.97%
1.95%

If you’re unsure of the account type or issue number, you can find this information for your account on your latest statement.

For Corporate Savings Customers, interest rates will also increase from 11 January 2023. Your Relationship Manager will be in contact to confirm the changes.

*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and also added to the previously earned interest once each year.