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Base Rate


Our Online Bank Buys *

Rate (AER) Interest Free Buffer
A & L 0.00% £1 Current Account product details for this A & L Premier Current Account £500 overdrawn
A & L 0.00% £1 Current Account product details for this A & L Premier Direct Current Account £500 overdrawn
First Direct 15.90% £1 Current Account product details for this First Direct 1st Account £500 overdrawn
HSBC 17.90% £1 Current Account product details for this HSBC Bank Account Plus £500 overdrawn
* Based on £500 Overdrawn and is a limited guide to the market

 

 

Base rate, sometimes referred to as repo rate, is the minimum rate at which banks are prepared to lend money - it acts as the benchmark for other interest rates, including personal loans and mortgages.

The central bank moves base rates by changing the dealing rates at which it buys bills from the discount houses.

See also: Base Rate History and Bank of England .

Last Updated: April 2008 © Moneyextra.com

 

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