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Royal Bank of Scotland (RBS): Agree to pass on the full cut

Category: Mortgage News | December 4th, 2008

Royal Bank of Scotland (RBS) have said that they will pass the Bank of England full interest rate cut on to its small business customers, the 1 percent reduction will benefit over 1 million small business customers on variable rate overdrafts and loans.

RBS said that due to the Monetary Policy Committees 1 percent interest rate cut, the Edinburgh based bank will ensure an appropriate balance between the interest of borrowers and savers in any decision the bank makes.

A Royal Bank of Scotland spokesperson also added that the bank will remain competitive in the market.

Lloyds TSB (LON:LLOY) and HSBC (LON:HSBA) have also agreed to pass the full rate cut onto small business customers.

Source: thisismoney

Related Articles 1 Comment
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  1. Will RBS pass on the 1% rate reduction to mortgae tracker/variable rate mortgage owners too?

    Comment by Clay — December 5, 2008 @ 5:16 pm

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