We recognise that this is an uncertain time for everyone. Our Members are at the heart of everything we do, and we want to reassure you that we continue to be committed to looking after your money.
Recently, the Bank of England reduced the base rate by 0.65% to 0.10% and we have taken some time to consider this reduction and to minimise its impact on our savings rates. As a mutual Building Society we have to balance the interest of both our savings and mortgage members. As such and under current circumstances, we have made the difficult, but necessary decision to reduce the interest rate on some of our savings accounts.
Outlined below is the details of all the rate changes made to our products and these changes will come into effect on 1st May 2020.
However, for any current existing 30 days’ notice and 90 days’ notice account customers, with accounts opened prior to 1st May 2020, the reduction in rates will occur on 1st June 2020 (30 days’ notice account) and 1st August 2020 (90 days’ notice account).
| Account name | Existing rate | New rate |
| Cash ISA | 0.75% AER | 0.50% AER |
| Instant Access – Account balance £100-£9,999 | 0.25% AER | 0.15% AER |
| Instant Access – Account balance £10,000+ | 0.50% AER | 0.35% AER |
| Junior Cash ISA | 2.00% AER | 1.75% AER |
| Young Savers | 1.40% AER | 1.20% AER |
| 18 Club | 2.20% AER | 2.00% AER |
| 21 Club | 1.00% AER | 0.75% AER |
| 30 Days’ Notice | 1.00% AER | 0.75% AER |
| 90 Days’ Notice | 1.20% AER | 1.00% AER |
We want to be clear and transparent to our members and allow you the necessary notice period to evaluate this. We have, and continue to, review the market and the current climate and we will do everything we can to help our members during this difficult period.
Thank you for saving with Harpenden Building Society.
How to contact us:
- Online: Register for Online Services. You can contact us using this platform.
- By phone: Our savings team are available on 01582 765411, Monday to Friday 10am-5pm.
- By email: Contact us on memberservices@harpendenbs.co.uk
- In branch: Visit us at any of our branches. Due to the current Covid-19 situation, please view our website for current branch opening times and availability.
Some helpful things you need to know;
AER*: this stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added to the capital balance each year.
To transfer money online – please register for Online Services. This will allow you to access your funds without needing to visit one of our branches. Our Online Services platform is safe and secure for you to use, with strong security measures in place.