Award winning digital savings bank, RCI Bank, today announces a rate increase across its Freedom Savings Account, the RCI Bank E-Volve Saver 14 Day Notice Account and 95 Day Notice Account.

Available for both new and existing customers: the RCI Bank E-Volve Saver 14 Day Notice Account interest rate has increased to 4.50% AER Gross variable, the Freedom Easy Account has risen to 4.50% AER Gross variable, and the 95 Day Notice Account has risen to 5.30% AER gross variable.

All RCI Bank accounts can be opened by UK residents aged 18 years and over, and 95 Day Notice Account and E-Volve Savings 14 Day Notice Account 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.

Tafari Smith, Head of Savings, RCI Bank: “Following the Bank of England’s decision last week to raise the base rate again, we continue with our commitment to providing savers with competitive rates and simple products. This rate rise follows almost two years of RCI Bank passing on increases that mirror those of the Bank of England.

“When considering the inflationary climate we find ourselves in, RCI Bank feel that it is important for our new and current customers to benefit from a rewarding rate on their savings without any potential pitfalls. This is why our Freedom Savings Account offers unlimited access without penalty and our Notice Accounts allow you to put money away so you can focus on other things.”