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What change has the Bank of England made?

The Bank of England have increased the base rate from 0.10% to 0.25%.

What is the Bank of England base rate?

The Bank of England Base rate is the British Government's key interest rate for enacting monetary policy.

Why has my interest rate increased?

The Bank of England recently announced an increase in the Bank of England base rate. Your interest rate has increased because the tracker product you hold is connected to the Bank of England base rate.

When did this Kent Reliance rate change occur?

If you have a tracker product, any rate change will take place on the first of the month following a Bank of England rate change announcement.

Why hasn’t my interest rate increased?

If you have a tracker product that moves with the Bank of England Base Rate, your rate will be increased on the first day of the month following the announcement.

If you do not have a tracker product, your interest rate is not linked the Bank of England Base Rate. If you have a fixed rate product, your rate will not change. For variable rate products, we continue to review market and economic conditions.

Why didn’t you warn me that the Bank of England Base Rate was going to increase?

The base rate is decided by the Bank of England, taking many market factors into consideration. Kent Reliance has no early insight into rate movements.

How do I find out what my new rate is?

You can find all of our rates on our website, by logging in to your online services, by visiting your local branch, or by calling 03451 221122.

How long will my account stay at this rate?

Savings rates can be altered at any time; however, in the event of a rate decrease, we will notify you in writing 14 days before the change will take effect.

Why did you not write to let me know my rate had increased?

When a change in interest rate is to your advantage we may make the change without notifying you. Your new rate can be found on our website, logging on to online services, visiting your local branch, or by calling 03451 221122.

Has there been any other changes made to my account terms and conditions?

Your account terms and conditions remain the same. We will always give you at least 30 days notice before we make any changes to your terms and conditions.