Up from 1%, effective 16 June 2022. It held until 4 August 2022.
At a base rate of 1.25%, a savings account tracking the base rate earned roughly:
£5,000 saved
£63
per year
£10,000 saved
£125
per year
£50,000 saved
£625
per year
Illustrative gross interest at the base rate. Best-buy easy-access accounts often beat the base rate — see current rates below.
Figures are indicative and correct as at 16 June 2022. Bank switch offers, rates, and eligibility change frequently — always confirm the latest terms directly with the provider before switching. T&Cs apply. This is information, not financial advice.