. 2 Saving rates have shot up recently 2 The table shows how much rates have increased by (the highest amount) The rate is used by high street banks and lenders to set the rates it offers customers on mortgages , loans and savings. A rate rise is generally good news for savers , especially after a long stretch of getting very low returns. Here's the full list of banks and building societies we know are increasing rates following yesterday's base rate rise. The table above shows the highest percentage point increase from each bank. So bear in mind that the increase may vary depending on what account you have and with what provider. Starling Bank Starling customers who have its one-year fixed savings accounts will see rates go up from 3.25% to 5.25%. The change came in yesterday (August 3). This is the biggest jump - though bear in mind this is a fixed savings account which means you won't be able to top it up once it's been opened or withdraw money during the fixed period. Customers will automatically see the difference added to their account. Nationwide Customers with a Nationwide Loyalty Saver, Loyalty ISA and Loyalty Single Access ISA will see their interest rise by 0.25 percentage points. The highest rate will be on its one-year Triple Access Online Saver, which will now pay 4.25%. Meanwhile, customers with a Flex Instant Saver 2 account will see the rate increase by 0.25 percentage points to 3.25%. In addition the interest on the bank's Instant Access Saver, Instant ISA Saver and Cashbuilder instant access accounts will increase by 0.10 percentage points. Chip Chip has increased the rate of its saver account to 4.51%. This means that those saving £1,000 in the account could now expect to gain £45.10 in interest after 12 months. Mo){kind=link}
BANKS and building societies have increased savings rates after interest rates were hiked this week.
The Bank of England increased rates by 0.25% on Thursday (August 3).
The rate is used by high street banks and lenders to set the rates it offers customers on mortgages, loans and savings.
A rate rise is generally good news for savers, especially after a long stretch of getting very low returns.
Here’s the full list of banks and building societies we know are increasing rates following yesterday’s base rate rise.