| UPDATED: 14:53, Fri, Mar 12, 2021
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Lloyds Bank is a popular provider, but with the 1.5 percent interest rate account available to eligible savers, many more may flock to take advantage of the offering. The interest rate put forward by the bank comes at a time where savings are ultimately suffering due to the pandemic. In March 2020, the Bank of England made an historic decision to reduce its base rate to 0.1 percent - the lowest in its entire history.
| UPDATED: 14:36, Thu, Feb 25, 2021
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Interest rates have unfortunately taken a tumble recently, as a result of the ongoing COVID-19 pandemic. The Bank of England reduced its base rate to a staggering low of 0.1 percent in March 2020, and has kept the rate at the same level since. This has had a knock on effect on banks and building societies across the UK, and thus on Britons who are wishing to put their money away to let it grow.