We consider many factors when reviewing the pricing of our savings accounts which includes the monitoring of market conditions whilst ensuring we provide our customers with fair value on their savings.
Following the Bank of England base rate reduction in August, we are letting you know we will be reducing the interest rates on all of our variable rate savings accounts.
The below accounts will be changing as follows:
| Account name | Balance Limits | Current Rate Gross PA / AER%* Variable | New Rate Gross PA / AER%* Variable | Effective from |
|---|---|---|---|---|
| Cash ISA (Issue 2) | £1-Unlimited | 2.50% | 2.25% | 29th August 2024 |
| ** Triple Access ISA (3 or less withdrawals) | £1-£250,000 | 4.00% | 3.75% | 29th August 2024 |
| Online ISA (Issue 4) | £1-£250,000 | 4.61% | 4.36% | 29th August 2024 |
| Instant Access (Issue 2) | £100- £250,000 | 2.45% | 2.20% | 29th August 2024 |
| **Triple Access Saver (3 or less withdrawals) | £100-£250,000 | 4.15% | 3.90% | 29th August 2024 |
| Online Instant (Issue 3) | £100-£250,000 | 4.61% | 4.36% | 29th August 2024 |
| Young Savers | £1-£50,000 | 4.15% | 3.90% | 29th August 2024 |
| 45 Days’ Notice | £1,000-£250,000 | 4.40% | 4.15% | 1st October 2024 |
| 45 Days’ Notice ISA | £1,000-£250,000 | 4.55% | 4.30% | 1st October 2024 |
| Online 60 Days' (Issue 3) | £1,000-£250,000 | 4.81% | 4.56% | 15th October 2024 |
| Business 35 Days' Notice | £10,000-£250,000 | 4.11% | 3.86% | 19th September 2024 |
| Business 95 Days' Notice | £1,000-£250,000 | 4.52% | 4.27% | 19th November 2024 |
The below closed accounts will be changing as follows:
| Account name | Balance Limit | Current rate Gross PA / AER%* Variable | New rate Gross PA / AER%* Variable | Effective From |
|---|---|---|---|---|
| Cash ISA | £1- Unlimited | 2.50% | 2.25% | 29th August 2024 |
| Junior Cash ISA | £1- Unlimited | 5.15% | 4.95% / 4.70% | 13th September / 13th November 2024 |
| Online ISA (Issue 1-3) | £1- £250,000 | 4.80% | 4.55% | 29th August 2024 |
| Easy Access/Budget Style/Ordinary Share | £1-£500 | 1.60% | 1.60% | 29th August 2024 |
| Easy Access/Budget Style/Ordinary Share | £500-£250,000 | 2.45% | 2.20% | 29th August 2024 |
| Escalator/Instant Access | £1-£250,000 | 2.45% | 2.20% | 29th August 2024 |
| Online Instant (Issue 1-2) | £100-£250,000 | 4.81% | 4.56% | 29th August 2024 |
| 30 Days' Notice (all issues) | £1,000-£250,000 | 2.70% | 2.45% | 16th September 2024 |
| Online 60 (Issue 1-2) | £1,000-£250,000 | 5.00% | 4.81% / 4.56% | 15th August 2024 / 14th October 2024 |
| 90 Day Notice (all issues) | £1,000-£250,000 | 5.15% | 4.95% / 4.70% | 13th September 2024 / 13th November 2024 |
| 21 Club | £1-Unlimited | 4.15% | 3.90% | 29th August 2024 |
| 18 Club | £1 - Unlimited | 5.15% | 4.95% / 4.70% | 13th September 2024 / 13th November 2024 |
*AER stands for annual equivalent rate and illustrates what the rate would be if interest was paid and compounded once a year. Your tax treatment will depend on your individual circumstances and may be subject to change in the future. The rate of interest payable on variable rate accounts may be subject to change in the future.
**For both Triple Access products (4 or more withdrawals per annum) remains the same 1.60% rate – the rate increase will occur to (3 or less withdrawals per annum).
For more details on our available accounts and information on how to apply, please visit our savings section, contact our savings team on 01582 765 411 or visit one of our branches.
Thank you for saving with Harpenden Building Society.