At its latest decision on 5 November 2026, the Bank of England raised the Bank Rate from 3.75% to 4%. The next decision is due on 17 December 2026. The Bank Rate isn’t the rate you’ll get on products like a credit card, mortgage or savings account, but it influences them.

When the Bank Rate changes, the rates banks and building societies quote on savings accounts can change too, but not always by the same amount or at the same time. This guide looks at how far savings rates have moved with Bank Rate and how to compare your own.

What is “pass-through”?

Pass-through is the share of a change in the Bank Rate that shows up in a savings rate. As an illustration, if the Bank Rate rose by 0.25 percentage points and a savings rate rose by 0.10 points, the pass-through would be 40%.

Instant access rates since 2022

Between January 2022 and August 2023, the Bank Rate rose by 5.00 percentage points, from 0.25% to 5.25%. The quoted instant access rate rose by 2.45 points over the same period, from 0.11% to 2.56%.

Between July 2024 and December 2025, Bank Rate fell by 1.50 points, to 3.75%, while the instant access rate fell by 0.59 points. The Bank Rate then stayed at 3.75% until the end of October 2026, and the instant access rate fell by a further 0.12 points, to 2.08%.

Changes in percentage points.

At the end of October 2026, the quoted instant access rate was 1.67 points below Bank Rate. In January 2022 it was 0.14 points below, and the gap was largest in June 2023 at 3.18 points.

Fixed rates in 2026

The Bank Rate was unchanged at 3.75% between December 2025 and October 2026. Over that period, the average quoted two-year fixed cash ISA rate rose from 3.72% in Dec 2025 to 4.6% in Oct 2026, a rise of 0.88 points. The instant access rate fell from 2.20% to 2.08% over the same period, a fall of 0.12 points.

On 5 November 2026, the Bank of England raised the Bank Rate to 4%.

What the FCA found in 2023

The FCA found that nine of the biggest savings providers passed through, on average, only 28% of the base rate rise to easy access deposits between January 2022 and May 2023. Notice and fixed-term deposits saw a greater pass-through, at 51% over the same period. The FCA published its 14-point action plan on 31 July 2023.

How to compare your own savings rate

• Find your account’s current rate in your app or statement, and check whether it includes a temporary bonus.

• Compare it with Bank Rate (now 4%) and the quoted averages above. These are averages, and individual accounts, balances and terms vary.

• Check the account type. Instant access and fixed-term accounts can move differently, as the data shows. Fixed accounts usually limit access to your money for the term.

• To look at other accounts, see our savings accounts guide. We don’t advise on which account to choose.

Footnote: Source: Bank of England quoted household interest rates, series IUMBEDR (month-end Bank Rate; the chart shows the daily series IUDBEDR), IUMB6VJ (instant access, including unconditional bonuses) and IUMZID2 (two-year fixed cash ISA). These are quoted rates, so rates available to individuals will vary. Differences are in percentage points.