Starling ups one-year fixed saver interest rate
The decision to increase its rate to 5.53 per cent follows the Bank of England’s first pause after 14 consecutive rate rises
Starling Bank has raised its interest rates on its one-year fixed saver account.
The bank has increased its rate from 5.25 per cent to 5.53 per cent.
Customers using the account can lock in balances ranging from £2,000 to £1m for one year at the raised rate.
They also have the option to hold multiple fixed saver accounts, accessible through both the bank’s app and website.
The bank last increased its rates alongside a number of other banks in August following the Bank of England’s fourteenth interest rate hike
The bank’s decision to raise its interest rates again now follows news that interest rates are being held at 5.25 per cent, marking the Bank of England’s first pause since rate rises began in December 2021.