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Base rate change, January 2023

Date published: 26 January 2023

Read time: 1 minute

Following the decision made by the Bank of England in December 2022 to increase the base rate of interest from 3.00% to 3.50%, we are announcing that we will be increasing rates across selected variable rate products by up to 0.50%.

The rate changes will come into effect from 1st February 2023 and will mean all our variable rate savings products will offer a minimum interest rate of 1.75%.

All members with a savings or mortgage product directly linked to the base rate will see their rate increase automatically in accordance with the terms and conditions of their product.

To find more information on your new rate, click here or visit a local branch.