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Interest rate reduction on 01/04/2020

20 April 2020

On 19 March 2020, the Bank of England announced a decrease in the Bank of England Base Rate from 0.25% to 0.10%.

Following this announcement, we have lowered the interest rates on some of our Base Rate tracker accounts. The new interest rates came into effect on 1st April 2020.

You can find out which interest rates were reduced on the PDFs below.

Variable historic rates (PDF)
Variable historic ISA rates (PDF)

Read more about the Base Rate

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FSCS – protecting your money. Find out more here.

Gross rate means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs.

AER means Annual Equivalent Rate. AER illustrates what your interest rate would be if interest was paid and compounded each year and allows you to easily compare different offers.

Tax free is the contractual rate of interest payable where interest is exempt from income tax.

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Birmingham Midshires is a division of Bank of Scotland plc which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628. Registered office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland No. SC327000.
To contact the FCA Consumer helpline, please ring 0800 111 6768. Alternatively call the Money Advice Service on 0300 500 5000 or visit www.moneyadviceservice.org.uk.

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