Intelligent Finance acts before base rate announcement

The savings rates now range between 4.55 and 4.65 per cent and its current account is 3.7 per cent.

Jim Spowart, chief executive of Intelligent Finance said: “These changes ensure that each of our products continue to be competitive across the market. By choosing to offset a current account or savings against a mortgage, personal loan or credit card, customers can benefit from 0 per cent interest on all or part of their borrowings, in return receiving no interest on the equivalent amount in their savings and/or current account.””