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first direct makes changes to savings rates

13 Nov 2017

Following the Bank of England Base Rate increase to 0.5%, first direct has carried out a review and has increased the rate on some of its savings accounts.

Although first direct ’s savings rates are not directly linked to the base rate, it’s one of the factors we take into consideration when reviewing our savings range.

Our Cash ISA will be increasing by 0.25% to 0.75%, while our Bonus Savings (including bonus) on balances of less than £100,000 will be increasing by 0.10% to 0.50% and by 0.05% to 0.20% on balances greater than £100,000.

Nick Harrison, Head of Products at first direct , said: “We regularly review our savings rates to take into account a wide range of external factors.  The strength of our balance sheet means that we are able to provide a safe place where our customers can save their money, and following a review we’ve increased the rate on some of our savings accounts.

“We offer a range of savings accounts to meet people’s different needs, including a market-leading Regular Saver account, which pays 5% interest.”

We’ll be writing to our customers, making them aware that these interest rates have come into effect from 1 December 2017.

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