OakNorth Bank Fixed Rate interest increase

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Hattie627 Posts: 121 Forumite

22 March at 1:34PM edited 22 March at 1:35PM in Savings & investments

I have an OakNorth 9 month fixed rate account maturing on 17 April. A couple of days ago I was invited to enter maturity instructions online and I decided (in view of the declining rate trajectory) to go for a full rollover of capital and interest into a further fixed rate for 1 year at 5.11%, this was stated to be a preferential rate for maturing accounts. I've just received an email today saying that the rate will actually be 5.16%. Very surprised, but pleased of course. Maybe the holding of the base rate yesterday has something to do with this, the previously given rate of 5.11% having factored in a fall yesterday.

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OakNorth Bank Fixed Rate interest increase

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