Up from 4.5%, effective 22 June 2023. It held until 3 August 2023.
At a base rate of 5%, a savings account tracking the base rate earned roughly:
£5,000 saved
£250
per year
£10,000 saved
£500
per year
£50,000 saved
£2,500
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 22 June 2023. 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.