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RCI Bank increases its interest rates on 7 of its 8 product offerings
17 June 2022
Award winning digital savings bank, RCI Bank, today announces a rate increase across its Freedom Easy Access Account, the RCI Bank E-Volve Saver 14 Day Notice Account and the full suite of its Fixed Term Accounts.

Available for both new and existing customers: the RCI Bank E-Volve Saver 14 Day Notice Account interest rate has increased to 1.35% AER Gross, the Freedom Easy Account has risen to 1.32% AER Gross, whilst the increased Fixed Term rates, available for new customers, are as follows:

 

Product

New Rate

One year Fixed Term Account

2.30% AER Gross

Two year Fixed Term Account

2.70% AER Gross

Three year Fixed Term Account

2.75% AER Gross

Four year Fixed Term Account

2.78% AER Gross

Five year Fixed Term Account

2.80% AER Gross

 

All RCI Bank accounts can be opened by UK residents aged 18 years and over, and both the Fixed Term and E-Volve Savings 14 Day Notice Accounts require £1,000 minimum deposit. While the call centre is based in the UK and available seven days a week, accounts can also be managed online and via the RCI Bank app, offering customers the freedom to manage their own finances. T&Cs apply please visit - www.rcibank.co.uk/savings-accounts.

 

Tafari Smith, Head of Savings, RCI Bank: “At RCI Bank we are committed to providing savers with competitive rates and simple products and are pleased to see that our planned rate rises continue to fall in line with yesterday’s Bank of England’s increase in the base rate. With inflation and fuel prices climbing at a dizzying speed over the past month, we hope that these boosts will provide some support for savers during the rising cost of living crisis, whilst supporting the nation’s green transition as deposits to our green savings product, the RCI Bank E-Volve Savings 14 Day Notice Account, continue to exclusively finance the switch to electric vehicles.

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