Interest rates Flashcards
What is the Bank of England Base Rate 2025
Definition: The benchmark rate set by the Bank of England, influencing borrowing costs across the economy.
Current Rate: 4.50% (reduced from 4.75% in February 2025)
Context: A further cut is anticipated in May due to economic pressures from global trade tensions and domestic tax increases.
Other interest rates (Just read this one,cuz you’ll not remember all of these)
- Mortgage Interest Rates
Definition: Rates charged by lenders on home loans, influenced by the base rate and market conditions.
Current Averages:
Two-year fixed: 4.84%
Five-year fixed: 4.72%
NerdWallet: Finance smarter
Notable Deals: Some lenders, like Barclays, offer rates as low as 3.99% on select fixed-rate mortgages.
The Sun
- Savings Interest Rates
Definition: Returns offered by banks on deposited funds, varying by account type and term.
Current Rates:
Easy Access Accounts: Up to 5.00%
moneysupermarket.com
One-Year Fixed Bonds: Up to 4.80%
Moneyfacts Compare
Regular Saver Accounts: Up to 8.00%
MoneySavingExpert.com
Example: HSBC’s Flexible Saver offers 1.35% AER for all balances as of April 17, 2025.
HSBC UK - Personal & Online Banking
- Credit Card Interest Rates (APR)
Definition: Annual Percentage Rate charged on outstanding credit card balances.
Current Averages:
Overall Average: 24.65%
NimbleFins
By Card Type:
Low Rate Cards: 10.9%
Credit-Builder Cards: 34.61%
Rewards Cards: 28.7%
