Interest Rates by Top 3 Banks in UK

By: Kate Riding

Interest rates have a direct impact on everyone's finances, whether it's their mortgage payments, credit card bills or savings account.

General Interest Rates in UK 

  • Fixed Rate Bond       up to 2.50%
  • Savings Accounts      up to 2.50%
  • All Loans                  from 1.19%
  • Home Loans             from 1.19%
  • Personal Loans         from 2.90%
  • Car Loans                from 2.90%
  • Credit Cards             from 5.69%

Interest Rates by Top 3 Banks in UK
UK banks offer a variety of banking services and accounts. It goes without saying different banks offer different rates. Here are the top comparision of ineterest rates between the two big banks in UK. 

HSBC (Largest Bank in Europe)

  • Fixed Rate Bond        up to 0.70%
  • Savings Accounts      up to 0.20%
  • Loans                       from 1.94%
  • Home Loans              from 1.94%
  • Personal Loans          from 3.30%
  • Credit Cards              from 18.90%

Lloyds (2nd largest UK bank)

  • Fixed Rate Bond       up to 0.40%
  • Savings Accounts     up to 2.50%
  • Loans                      from 3.44%
  • Home Loans             from 3.44%
  • Personal Loans         from 3.60%
  • Credit Cards             from 5.69%

Barclays (3rd Largest UK bank)

  • Fixed Rate Bond      up to 0.55%
  • Savings Accounts    up to 0.60%
  • Loans                     from 3.40%
  • Home Loans            from 3.40%
  • Personal Loans        from 4.90%
  • Credit Cards            from 34.90%

Mortgage Rates
More than one in four mortgage applications are turned down. On the other hand, if you've paid off your mortgage and have a whack of cash lying around, higher rates mean the bank will pay you more to let your money sit with them in savings accounts or GICs.

Credit Cards
Lower interest rates could also bolster consumer spending, since credit cards are often pegged to short-term rates. The actual rates and fees applicable to your loan may vary from these numbers, depending on the school you attend and credit history.

Ironically, who would have thought that the bank most hurt by the credit crunch would turnout to be the Bank of England.

Banking
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