News story

Interest rate increases to Court Funds Office special and basic accounts

Increase of interest rates for Court Funds Office special and basic accounts from today (23 August 2023).

• From: Ministry of Justice
• Published: 23 August 2023

This was published under the 2022 to 2024 Sunak Conservative government

In response to the increase in the Bank of England base rate on 3 August 2023, the Lord Chancellor has reviewed the Court Funds Office (CFO) rates of interest payable to clients and has directed that from 23 August 2023 these will change to the following:

• Special account – increases from 4.50% to 6.00%
• Basic account – increases from 3.375% to 5.00%

The Lord Chancellor has made this decision to ensure that the running costs of the CFO service can continue to be met and that an increased rate of interest payable to clients can be provided.

If you wish to discuss further, please contact the CFO on 0300 0200 199 or email enquiries@cfo.gov.uk.

Published 23 August 2023