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 on November 7th 2024, we are letting you know we will be reducing the interest rates on all of our variable rate savings accounts.
Please note we will soon be in contact with all our savings customers to make them aware of the changes that will be occurring to their savings account(s).
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 | 2.25% | 2.00% | 26th November 2024 |
| ** Triple Access ISA (3 or less withdrawals) | £1-£250,000 | 3.75% | 3.50% | 26th November 2024 |
| Online ISA (Issue 4) | £1-£250,000 | 4.36% | 4.11% | 26th November 2024 |
| Instant Access (Issue 2) | £100- £250,000 | 2.20% | 2.00% | 26th November 2024 |
| **Triple Access Saver (3 or less withdrawals) | £100-£250,000 | 3.90% | 3.65% | 26th November 2024 |
| Online Instant (Issue 3) | £100-£250,000 | 4.36% | 4.11% | 26th November 2024 |
| Young Savers | £1-£50,000 | 3.90% | 3.65% | 26th November 2024 |
| 45 Days’ Notice | £1,000-£250,000 | 4.15% | 3.90% | 27th December 2024 |
| 45 Days’ Notice ISA | £1,000-£250,000 | 4.30% | 4.05% | 27th December 2024 |
| Online 60 Days' (Issue 3) | £1,000-£250,000 | 4.56% | 4.31% | 13th January 2025 |
| Business 35 Days' Notice | £10,000-£250,000 | 3.86% | 3.61% | 17th December 2024 |
| Business 95 Days' Notice | £10,000-£250,000 | 4.52% | 4.27% / 4.02% | 19th November 2024 / 17th February 2025 |
| Trust 35 Days' Notice | £10,000-£1,000,000 | 2.70% | 2.45% | 17th December 2024 |
| Trust Instant Access Notice | £10,000-£1,000,000 | 2.30% | 2.05% | 26th 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 | 2.25% | 2.00% | 26th November 2024 |
| Junior Cash ISA | £1- Unlimited | 4.95% | 4.70%/ 4.45% | 13th November 2024 / 10th February 2025 |
| Online ISA (Issue 1-3) | £1- £250,000 | 4.55% | 4.30% | 26th November 2024 |
| Easy Access/Budget Style/Ordinary Share | £1-£500 | 1.60% | 1.60% | 26th November 2024 |
| Easy Access/Budget Style/Ordinary Share | £500-£250,000 | 2.20% | 2.00% | 26th November 2024 |
| Escalator/Instant Access | £1-£250,000 | 2.20% | 2.00% | 26th November 2024 |
| Online Instant (Issue 1-2) | £100-£250,000 | 4.56% | 4.31% | 26th November 2024 |
| 30 Days' Notice (all issues) | £1,000-£250,000 | 2.45% | 2.20% | 12 December 2024 |
| Online 60 (Issue 1-2) | £1,000-£250,000 | 4.56% | 4.31% | 13th January 2025 |
| 90 Day Notice (all issues) | £1,000-£250,000 | 4.95% | 4.70% / 4.45% | 13th November 2024 / 10th February 2025 |
| 21 Club | £1-Unlimited | 3.90% | 3.65% | 26th November 2024 |
| 18 Club | £1 - Unlimited | 4.95% | 4.70% / 4.45% | 13th November 2024 / 10th February 2025 |
*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.