Interest Rate Increased on the Court Funds Office Special and Basic Accounts

The interest rates were increased for Court Funds Office special and basic accounts today (25 October 2022)

Please note that, in response to the increase in the Bank of England base rate on 22 September 2022, the Lord Chancellor has reviewed the Court Funds Office (CFO) rates of interest payable to clients and has directed that from 25 October 2022 these will change to the following:

-Special Account – increases from 1.75% to 2.25%

-Basic Account – increases from 1.313% to 1.688%

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.