Lloyds Bank confirms 6.25% interest savings account after rate drop

Lloyds Bank is tempting Brits with a competitive 6.25% interest rate on its regular savings account, despite many providers slashing rates following the recent Bank of England Base Rate cut to 4%. In the wake of the base rate drop, more than 20 savings account providers have passed on the change to their customers across easy access, notice, Cash ISAs, Junior ISAs and children's savings accounts.

Not every provider has passed on the 0.25% cut, some have dropped their own rates by less while others have taken the trend to the extreme and have taken off even more from their interest rates. But amid the shifting savings accounts, Lloyds is rising above with its leading 6.25% rate.

This is specifically for its regular savings account which has a few more requirements and criteria savers need