News story

Interest rate reduction on the Court Funds Office special and basic accounts

Decrease of interest rates for Court Funds Office special and basic accounts from 19 September 2024.

• From: Ministry of Justice
• Published: 18 July 2024
• Last updated: 2 October 2024 — See all updates

In response to the decrease in the Bank of England base rate on 1 August 2024, the Court Funds Office (CFO) rates of interest payable to clients have been reviewed and  from 19 September 2024 these will change to the following:

• Special Account – decreased from 5.25% to 5.00%
• Basic Account – decreased from 3.94% to 3.75%

The decision was made to ensure that the running costs of the CFO service can continue to be met whilst still providing an affordable rate of interest payable to clients.

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

 

Published 18 July 2024
Last updated 2 October 2024 + show all updates

1. 2 October 2024

   19 September 2024 reduction in rates update.

2. 18 July 2024

   First published.