We’ll reduce your cash and standard rate in the first two years, as long as you make your minimum payments on time. The rate reduction will be 3% in the first year and 2% in the second.
If you don’t qualify in the first year, but do qualify in the second, you’ll get a reduction of 3% in that year.
The rate reduction starts from the date you receive your statement for the anniversary month of when you opened your account.
Your interest rates will move up and down in line with changes to the Bank of England Base Rate. If your rates change because of the Base Rate, any price promise reduction you get will be applied to the new higher or lower rate.
Making minimum payments
Making minimum payments could help you to get a rate reduction, but the longer you take to clear your balance, the more interest you’ll pay. If you choose to pay a little more each month, you could clear your balance sooner and pay less in interest.
Enter your details into our repayment calculator to explore your options.