Message to our Savers – August 4th 2022 – Base rate increase to 1.75%

Message to our Savers – August 4th 2022

On Thursday 4th August 2022, the Bank of England base rate increased from 1.25% to 1.75%. We regularly review our rates in light of changes in the Bank of England Base Rate and the market more broadly.

We recently increased our savings rates for the following accounts on Thursday 28th July 2022.

Cash ISA accounts will increase from 0.55% Gross PA/AER* to 0.70% AER
30 days’ Notice Accounts will increase from 0.60% Gross PA/AER to 0.75% AER
90 days’ Notice Accounts will increase from 0.65% Gross PA/AER to 0.80% AER
Instant Access accounts will increase from 0.35% AER / 0.45% Gross PA/AER to 0.60% AER
21 Club accounts will increase from 0.85% AER to 1.00% Gross PA/AER

On 28th July, the Society also launched a new Variable Cash ISA (Issue 2) with a gross interest rate of 1.00% PA/AER.

After the base rate announcement on 4th August 2022, any further changes in our interest rates will be communicated to all affected customers to make them aware as soon as possible. You can view our range of products in the Savings section.

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