Tracker Interest Rate Change
On 4th August 2016, the Bank of England cut the Base Rate to 0.25%. Because of this, we will be lowering the interest rates on the following tracker savings accounts from 1st September 2016:
RATES CORRECT AS OF 10 AUG 2016
| Account name | Interest rate at 1st August 2016 | New interest rate from September 1st 2016 |
|---|---|---|
| Maturity Tracker Account Annual (Issue 8) | 1.00% Gross1 p.a./AER2 Tracks the Bank of England Base Rate, 0.50% Gross1 p.a./AER2 (variable), plus 0.50% Gross1 p.a./AER2 (fixed) until 2nd October 2016 |
0.75% Gross1 p.a./AER2 Tracks the Bank of England Base Rate, 0.25% Gross1 p.a./AER2 (variable), plus 0.50% Gross1 p.a./AER2 (fixed) until 2nd October 2016 |
| Maturity Tracker Account Annual (Issue 9) | 1.00% Gross1 p.a./AER2 Tracks the Bank of England Base Rate, 0.50% Gross1 p.a./AER2 (variable), plus 0.50% Gross1 p.a./AER2 (fixed) until 28th February 2017 |
0.75% Gross1 p.a./AER2 Tracks the Bank of England Base Rate, 0.25% Gross1 p.a./AER2 (variable), plus 0.50% Gross1 p.a./AER2 (fixed) until 28th February 2017 |
| Maturity Tracker Account Monthly (Issue 8) | 0.75% Gross1 p.a./AER2 Tracks the Bank of England Base Rate, 0.50% Gross1 p.a./AER2 (variable), plus 0.25% Gross1 p.a./AER2 (fixed) until 2nd October 2016 |
0.50% Gross1 p.a./AER2 Tracks the Bank of England Base Rate, 0.25% Gross1 p.a./AER2 (variable), plus 0.25% Gross1 p.a./AER2 (fixed) until 2nd October 2016 |
| Maturity Tracker Account Monthly (Issue 9) | 0.95% Gross1 p.a./AER2 Tracks the Bank of England Base Rate, 0.50% Gross1 p.a./AER2 (varaible), plus 0.45% Gross1 p.a./AER2 (fixed) until 28th February 2017 |
0.70% Gross1 p.a./AER2 Tracks the Bank of England Base Rate, 0.25% Gross1 p.a./AER2 (variable), plus 0.45% Gross1 p.a./AER2 (fixed) until 28th February 2017 |
| Maturity Tracker ISA (Issue 9) | 1.00% Tax-Free§ p.a./AER2 Tracks the Bank of England Base Rate, 0.50% Tax-Free§ p.a./AER2 (variable), plus 0.50% Tax-Free§ p.a./AER2 (fixed) until 2nd October 2016 |
0.75% Tax-Free§ p.a./AER2 Tracks the Bank of England Base Rate, 0.25% Tax-Free§ p.a./AER2 (variable), plus 0.50% Tax-Free§ p.a./AER2 (fixed) until 2nd October 2016 |
| Maturity Tracker ISA (Issue 10) | 1.00% Tax-Free§ p.a./AER2 Tracks the Bank of England Base Rate, 0.50% Tax-Free§ p.a./AER2 (variable), plus 0.50% Tax-Free§ p.a./AER2 (fixed) until 28th February 2017 |
0.75% Tax-Free§ p.a./AER2 Tracks the Bank of England Base Rate, 0.25% Tax-Free§ p.a./AER2 (variable), plus 0.50% Tax-Free§ p.a./AER2 (fixed) until 28th February 2017 |
1 Gross means the rate of interest payable before the deduction of income tax at the rate specified by law.
2 AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
§Tax-Free means that the interest payable is exempt from income tax. Cash ISAs are available to individuals aged 16 and over who are resident in the UK for tax purposes.
