In the wake of the Bank of England’s decision to increase the UK’s base rate of borrowing last week, Intelligent Finance has updated its savings accounts, current accounts, ISAs and mortgages.
The new rates come into effect on January 28th, 2007, and will see the full 0.25 per cent Bank of England rate rise passed on.
Intelligent Finance direct access savings account interest rate
Intelligent Finance’s direct access savings will now pay 5.05% AER/Gross (variable) from £1 (previously 4.80%). Around half of the bank’s customers offset their savings against their mortgage and this change continues to deliver a ‘real rate’ of over 8% for standard rate tax payers and over 11% for higher rate tax payers.
Intelligent Finance mini cash ISA interest rate
ISA savers will receive 5.35% AER/Gross from £1 (previously 5.10%). This is 0.10% above Intelligent Finance’s rate guarantee, which promises to pay at least Bank of England base rate until 31st December 2007.
Intelligent Finance offset mortgages interest rate
Tracker offset mortgages start with rates as low as 5.09% and non-offset tracker mortgages start with rates as low as 5.39%. Intelligent Finance’s SVR will move from 6.30% to 6.65% – ensuring that the bank continues to remain a top four player in terms of competitive SVRs available.
Intelligent Finance current account
The bank continues to offer great value on its current account and is not increasing charges or debit fees for customers, with the credit interest rate remaining at 3.00% AER/Gross.
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