Darlington Building Society is increasing the interest rates on all variable rate savings accounts by 0.15% – passing on the full December 2021 Bank Base Rate increase to its saving members.

From 1 February, almost 76,000 savers will see their money work that little bit harder as a result of the increase.

In a further move to support its members, the Society is also holding its mortgage Standard Variable Rate (SVR). This means that SVR mortgage members will not see an increase in their monthly repayments in line with the December 2021 Bank Base Rate increase.

Andrew Craddock, Chief Executive said: “Times are tough right now, so it is really important to me that we reward our loyal savers. We are going full steam ahead and applying the full 0.15% increase to 100% of our variable rate savings accounts from 1 February, including some already market-leading junior accounts.”

“We hope that this focus on savings will encourage more people to begin a savings habit. Putting away little and often is a great way to build a financial buffer and increase your financial resilience.”