Available for both new and existing customers, the 95-Day Notice Account interest rate has increased to 1.55% AER Gross, whilst the increased Fixed Term rates, available for new customers, are as follows:

All RCI Bank accounts can be opened by UK residents aged 18 years and over, and both the Fixed Term and 95-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: “Across all our products this rate rise marks our second in as many weeks, and our second increase on both the 95-Day Notice account and our full Fixed Term range in the last month. With inflation continuing a pace, as we saw last week with the rate of inflation hitting a 40 year high of 9%, and the rising cost of living, our hope is that these new rates will help give what people have managed to put aside a bit of a boost, at a time when many will be feeling the squeeze financially.”