Capital One savings responds to base rate increase

Capital One will increase the rate paid on its Base Beater savings account from Friday 11th May 2007.

This is in swift response to the Bank of England's decision to increase the base rate by 0.25 % to 5.5%.

By passing on the full base rate rise, Capital One's Base Beater Savings Account will offer a new rate of 5.55% AER/Gross (variable). The Capital One Base Beater Savings account has a minimum balance of £500 and guarantees to at least match the base rate until July 2010, offering customers long-term value and peace of mind.

The interest rate for Capital One’s Bonus Saver account will increase to 5.75% (including a 0.5% bonus over 12 months) on balances of £500 and over. Both Base Beater and Bonus Saver are internet, phone and postal-based accounts, offering customers easy access and flexibility. Rates are not dependent on making regular monthly savings and customers are neither restricted nor penalised for the number of withdrawals they make.