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Interest rate changes on tracker savings accounts

On 4th August 2016, the Bank of England cut the Base Rate to 0.25%. Because of this, we will be lowering the interest rates on the following tracker savings accounts from 1st September 2016:

RATES CORRECT AS OF 10th August 2016
Account nameInterest rate at 1st August 2016New interest rate from September 1st 2016
Gibraltar Maturity Tracker Account (Issue 2) Annual 1.00% Gross1 p.a./AER2
Tracks the Bank of England Base Rate, 0.50% Gross1 p.a./AER2 (variable), plus 0.50% Gross1 p.a./AER2 (fixed) until 28th February 2017
0.75% Gross1 p.a./AER2
Tracks the Bank of England Base Rate, 0.25% Gross1 p.a./AER2 (variable), plus 0.50% Gross1 p.a./AER2 (fixed) until 28th February 2017
Offshore Maturity Tracker Account (Issue 2) Annual 1.00% Gross1 p.a./AER2
Tracks the Bank of England Base Rate, 0.50% Gross1 p.a./AER2 (variable), plus 0.50% Gross1 p.a./AER2 (fixed) until 28th February 2017
0.75% Gross1 p.a./AER2
Tracks the Bank of England Base Rate, 0.25% Gross1 p.a./AER2 (variable), plus 0.50% p.a./AER2 (fixed until 28th February 2017)

1 Gross means the rate of interest payable before the deduction of income tax at the rate specified by law.
2 AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.