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Reading, Tuesday 11th November. Following the Bank of England's decision on6th November 2003 to raise Interest Rates to 3.75%, ING Direct will be raising the Interest Rate on its Savings Account to 4.30% AER* (Gross 4.22%) with effect from December 1st 2003.
"Consistently high rates are critical to our success as a business," commented Lindsay Sinclair, CEO ING Direct UK. "We launched with 4.3% (compared to Bank of England Base Rate of 3.75%) in May 2003 and are demonstrating our commitment to high rates by moving the interest rate on our Savings Account back to that level."
"Higher interest rates will re-ignite the UK population's passion for saving - we are best placed to provide savers with a high interest account coupled with "no catches" and excellent service," continued Sinclair.