Barclays was last night accused of charging struggling firms up to 12 per cent interest on Government-backed crisis loans. Major banks have also come under fire for telling company directors their personal assets will be seized if their businesses fail. The Coronavirus Business Interruption Loan Scheme was launched by 40 lenders on Monday as part … Read more
‘Cuts are inevitable’: Savers warned to prepare for another reduction in interest after base rate change Most banks and BS will start cutting rates in ten days’ time, expert says They will account for two changes in Base Rate, that has been cut to 0.1% By Jeff Prestridge for The Mail on Sunday Published: 22:59 … Read more
Bank of England slashes interest rates to just 0.1% to help boost UK economy as ministers unveil emergency laws to tackle the spread of coronavirus Bank of England’s Monetary Policy Committee had a special meeting today Committee decided to cut interest rates from 0.25 per cent to just 0.1 per cent It is second interest … Read more
Starling Bank slashes the interest rate it pays to in-credit current account customers by up to 90% Starling currently pays 0.5% on balances up to £2,000 and 0.25% above that From 18 May these rates will be cut to 0.05% Starling blamed the Bank of England’s emergency base rate cut Could others like Nationwide and … Read more