Interest rate changes on tracker savings accounts

On 4th August 2016, the Bank of England cut the Base Rate to 0.25%. Because of this, we will be lowering the interest rates on the following tracker savings accounts from 1st September 2016:

RATES CORRECT AS OF 10 AUG 2016

Account nameInterest rate at 1st August 2016New interest rate from September 1st 2016
Maturity Tracker Account Annual (Issue 8) 1.00% Gross1 p.a./AER2
Tracks the Bank of England Base Rate, 0.50% Gross1 p.a./AER2 (variable), plus 0.50% Gross1 p.a./AER2 (fixed) until 2nd October 2016
0.75% Gross1 p.a./AER2
Tracks the Bank of England Base Rate, 0.25% Gross1 p.a./AER2 (variable), plus 0.50% Gross1 p.a./AER2 (fixed) until 2nd October 2016
Maturity Tracker Account Annual (Issue 9) 1.00% Gross1 p.a./AER2
Tracks the Bank of England Base Rate, 0.50% Gross1 p.a./AER2 (variable), plus 0.50% Gross1 p.a./AER2 (fixed) until 28th February 2017
0.75% Gross1 p.a./AER2
Tracks the Bank of England Base Rate, 0.25% Gross1 p.a./AER2 (variable), plus 0.50% Gross1 p.a./AER2 (fixed) until 28th February 2017
Maturity Tracker Account Monthly (Issue 8) 0.75% Gross1 p.a./AER2
Tracks the Bank of England Base Rate, 0.50% Gross1 p.a./AER2 (variable), plus 0.25% Gross1 p.a./AER2 (fixed) until 2nd October 2016
0.50% Gross1 p.a./AER2
Tracks the Bank of England Base Rate, 0.25% Gross1 p.a./AER2 (variable), plus 0.25% Gross1 p.a./AER2 (fixed) until 2nd October 2016
Maturity Tracker Account Monthly (Issue 9) 0.95% Gross1 p.a./AER2
Tracks the Bank of England Base Rate, 0.50% Gross1 p.a./AER2 (varaible), plus 0.45% Gross1 p.a./AER2 (fixed) until 28th February 2017
0.70% Gross1 p.a./AER2
Tracks the Bank of England Base Rate, 0.25% Gross1 p.a./AER2 (variable), plus 0.45% Gross1 p.a./AER2 (fixed) until 28th February 2017
Maturity Tracker ISA (Issue 9) 1.00% Tax-Free§ p.a./AER2
Tracks the Bank of England Base Rate, 0.50% Tax-Free§ p.a./AER2 (variable), plus 0.50% Tax-Free§ p.a./AER2 (fixed) until 2nd October 2016
0.75% Tax-Free§ p.a./AER2
Tracks the Bank of England Base Rate, 0.25% Tax-Free§ p.a./AER2 (variable), plus 0.50% Tax-Free§ p.a./AER2 (fixed) until 2nd October 2016
Maturity Tracker ISA (Issue 10) 1.00% Tax-Free§ p.a./AER2
Tracks the Bank of England Base Rate, 0.50% Tax-Free§ p.a./AER2 (variable), plus 0.50% Tax-Free§ p.a./AER2 (fixed) until 28th February 2017
0.75% Tax-Free§ p.a./AER2
Tracks the Bank of England Base Rate, 0.25% Tax-Free§ p.a./AER2 (variable), plus 0.50% Tax-Free§ p.a./AER2 (fixed) until 28th February 2017

1 Gross means the rate of interest payable before the deduction of income tax at the rate specified by law.

2 AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.

§Tax-Free means that the interest payable is exempt from income tax. Cash ISAs are available to individuals aged 16 and over who are resident in the UK for tax purposes.