Bank of England Bank Rate history, with a CSV download
Bank Rate is 3.75% today. Below is every change since November 1997, the rate each one gives for a late invoice, and a CSV you can download.
For UK business-to-business invoices. Last checked against GOV.UK, legislation.gov.uk and the Bank of England.
Bank Rate 3.75% · statutory rate 11.75%
Confirmed against the Bank of England up to 4 Oct 2026. 67 rate changes, 6 Nov 1997 onwards.
Which of these rates applies to my invoice?
Interest on a late business invoice is 8% a year over the Bank of England’s Bank Rate (the rate is set by the Rate of Interest (No. 3) Order 2002, article 4, which the Secretary of State makes under section 6 of the 1998 Act). The Order does not use the rate on the day you are paid, or even the day the invoice fell due. It uses the rate in force on 30 June for interest that starts to run between 1 July and 31 December, and on 31 December for interest that starts between 1 January and 30 June, immediately before the day interest starts.
So there are only two Bank Rate look-ups a year. Here they are since 2019:
| Reference date | For interest starting | Bank Rate | Statutory rate |
|---|---|---|---|
| 31 Dec 2026 (not yet) | 1 Jan 2027 to 30 Jun 2027 | 3.75% so far | 11.75% so far |
| 30 Jun 2026 | 1 Jul 2026 to 31 Dec 2026 | 3.75% | 11.75% |
| 31 Dec 2025 | 1 Jan 2026 to 30 Jun 2026 | 3.75% | 11.75% |
| 30 Jun 2025 | 1 Jul 2025 to 31 Dec 2025 | 4.25% | 12.25% |
| 31 Dec 2024 | 1 Jan 2025 to 30 Jun 2025 | 4.75% | 12.75% |
| 30 Jun 2024 | 1 Jul 2024 to 31 Dec 2024 | 5.25% | 13.25% |
| 31 Dec 2023 | 1 Jan 2024 to 30 Jun 2024 | 5.25% | 13.25% |
| 30 Jun 2023 | 1 Jul 2023 to 31 Dec 2023 | 5% | 13% |
| 31 Dec 2022 | 1 Jan 2023 to 30 Jun 2023 | 3.5% | 11.5% |
| 30 Jun 2022 | 1 Jul 2022 to 31 Dec 2022 | 1.25% | 9.25% |
| 31 Dec 2021 | 1 Jan 2022 to 30 Jun 2022 | 0.25% | 8.25% |
| 30 Jun 2021 | 1 Jul 2021 to 31 Dec 2021 | 0.1% | 8.1% |
| 31 Dec 2020 | 1 Jan 2021 to 30 Jun 2021 | 0.1% | 8.1% |
| 30 Jun 2020 | 1 Jul 2020 to 31 Dec 2020 | 0.1% | 8.1% |
| 31 Dec 2019 | 1 Jan 2020 to 30 Jun 2020 | 0.75% | 8.75% |
| 30 Jun 2019 | 1 Jul 2019 to 31 Dec 2019 | 0.75% | 8.75% |
The top row has not happened yet, so the figure shown is today’s Bank Rate, not a forecast. It is settled by whatever is in force on 31 Dec 2026; see the MPC decision dates for the announcements still to come before then.
A debt keeps its rate for its whole life. If an invoice fell due in October 2024, interest started the next day, so the 30 June 2024 rate was used (5.25%), and that stays the base even though Bank Rate has since fallen. The worked examples show what happens either side of a 31 December.
Every change since 2019
“Statutory rate” is Bank Rate plus 8 percentage points: the rate that would apply to a debt if this were its reference rate. It is not the rate on the day shown.
| Took effect | Last day in force | Bank Rate | Change (points) | Statutory rate |
|---|---|---|---|---|
| 18 Dec 2025 | Current | 3.75% | −0.25 | 11.75% |
| 7 Aug 2025 | 17 Dec 2025 | 4% | −0.25 | 12% |
| 8 May 2025 | 6 Aug 2025 | 4.25% | −0.25 | 12.25% |
| 6 Feb 2025 | 7 May 2025 | 4.5% | −0.25 | 12.5% |
| 7 Nov 2024 | 5 Feb 2025 | 4.75% | −0.25 | 12.75% |
| 1 Aug 2024 | 6 Nov 2024 | 5% | −0.25 | 13% |
| 3 Aug 2023 | 31 Jul 2024 | 5.25% | +0.25 | 13.25% |
| 22 Jun 2023 | 2 Aug 2023 | 5% | +0.50 | 13% |
| 11 May 2023 | 21 Jun 2023 | 4.5% | +0.25 | 12.5% |
| 23 Mar 2023 | 10 May 2023 | 4.25% | +0.25 | 12.25% |
| 2 Feb 2023 | 22 Mar 2023 | 4% | +0.50 | 12% |
| 15 Dec 2022 | 1 Feb 2023 | 3.5% | +0.50 | 11.5% |
| 3 Nov 2022 | 14 Dec 2022 | 3% | +0.75 | 11% |
| 22 Sep 2022 | 2 Nov 2022 | 2.25% | +0.50 | 10.25% |
| 4 Aug 2022 | 21 Sep 2022 | 1.75% | +0.50 | 9.75% |
| 16 Jun 2022 | 3 Aug 2022 | 1.25% | +0.25 | 9.25% |
| 5 May 2022 | 15 Jun 2022 | 1% | +0.25 | 9% |
| 17 Mar 2022 | 4 May 2022 | 0.75% | +0.25 | 8.75% |
| 3 Feb 2022 | 16 Mar 2022 | 0.5% | +0.25 | 8.5% |
| 16 Dec 2021 | 2 Feb 2022 | 0.25% | +0.15 | 8.25% |
| 19 Mar 2020 | 15 Dec 2021 | 0.1% | −0.15 | 8.1% |
| 11 Mar 2020 | 18 Mar 2020 | 0.25% | −0.50 | 8.25% |
Earlier changes, November 1997 to 2018 (45 rows)
| Took effect | Last day in force | Bank Rate | Change (points) | Statutory rate |
|---|---|---|---|---|
| 2 Aug 2018 | 10 Mar 2020 | 0.75% | +0.25 | 8.75% |
| 2 Nov 2017 | 1 Aug 2018 | 0.5% | +0.25 | 8.5% |
| 4 Aug 2016 | 1 Nov 2017 | 0.25% | −0.25 | 8.25% |
| 5 Mar 2009 | 3 Aug 2016 | 0.5% | −0.50 | 8.5% |
| 5 Feb 2009 | 4 Mar 2009 | 1% | −0.50 | 9% |
| 8 Jan 2009 | 4 Feb 2009 | 1.5% | −0.50 | 9.5% |
| 4 Dec 2008 | 7 Jan 2009 | 2% | −1.00 | 10% |
| 6 Nov 2008 | 3 Dec 2008 | 3% | −1.50 | 11% |
| 8 Oct 2008 | 5 Nov 2008 | 4.5% | −0.50 | 12.5% |
| 10 Apr 2008 | 7 Oct 2008 | 5% | −0.25 | 13% |
| 7 Feb 2008 | 9 Apr 2008 | 5.25% | −0.25 | 13.25% |
| 6 Dec 2007 | 6 Feb 2008 | 5.5% | −0.25 | 13.5% |
| 5 Jul 2007 | 5 Dec 2007 | 5.75% | +0.25 | 13.75% |
| 10 May 2007 | 4 Jul 2007 | 5.5% | +0.25 | 13.5% |
| 11 Jan 2007 | 9 May 2007 | 5.25% | +0.25 | 13.25% |
| 9 Nov 2006 | 10 Jan 2007 | 5% | +0.25 | 13% |
| 3 Aug 2006 | 8 Nov 2006 | 4.75% | +0.25 | 12.75% |
| 4 Aug 2005 | 2 Aug 2006 | 4.5% | −0.25 | 12.5% |
| 5 Aug 2004 | 3 Aug 2005 | 4.75% | +0.25 | 12.75% |
| 10 Jun 2004 | 4 Aug 2004 | 4.5% | +0.25 | 12.5% |
| 6 May 2004 | 9 Jun 2004 | 4.25% | +0.25 | 12.25% |
| 5 Feb 2004 | 5 May 2004 | 4% | +0.25 | 12% |
| 6 Nov 2003 | 4 Feb 2004 | 3.75% | +0.25 | 11.75% |
| 10 Jul 2003 | 5 Nov 2003 | 3.5% | −0.25 | 11.5% |
| 6 Feb 2003 | 9 Jul 2003 | 3.75% | −0.25 | 11.75% |
| 8 Nov 2001 | 5 Feb 2003 | 4% | −0.50 | 12% |
| 4 Oct 2001 | 7 Nov 2001 | 4.5% | −0.25 | 12.5% |
| 18 Sep 2001 | 3 Oct 2001 | 4.75% | −0.25 | 12.75% |
| 2 Aug 2001 | 17 Sep 2001 | 5% | −0.25 | 13% |
| 10 May 2001 | 1 Aug 2001 | 5.25% | −0.25 | 13.25% |
| 5 Apr 2001 | 9 May 2001 | 5.5% | −0.25 | 13.5% |
| 8 Feb 2001 | 4 Apr 2001 | 5.75% | −0.25 | 13.75% |
| 10 Feb 2000 | 7 Feb 2001 | 6% | +0.25 | 14% |
| 13 Jan 2000 | 9 Feb 2000 | 5.75% | +0.25 | 13.75% |
| 4 Nov 1999 | 12 Jan 2000 | 5.5% | +0.25 | 13.5% |
| 8 Sep 1999 | 3 Nov 1999 | 5.25% | +0.25 | 13.25% |
| 10 Jun 1999 | 7 Sep 1999 | 5% | −0.25 | 13% |
| 8 Apr 1999 | 9 Jun 1999 | 5.25% | −0.25 | 13.25% |
| 4 Feb 1999 | 7 Apr 1999 | 5.5% | −0.50 | 13.5% |
| 7 Jan 1999 | 3 Feb 1999 | 6% | −0.25 | 14% |
| 10 Dec 1998 | 6 Jan 1999 | 6.25% | −0.50 | 14.25% |
| 5 Nov 1998 | 9 Dec 1998 | 6.75% | −0.50 | 14.75% |
| 8 Oct 1998 | 4 Nov 1998 | 7.25% | −0.25 | 15.25% |
| 4 Jun 1998 | 7 Oct 1998 | 7.5% | +0.25 | 15.5% |
| 6 Nov 1997 | 3 Jun 1998 | 7.25% | First in table | 15.25% |
About the data
- The figures are the Bank’s official Bank Rate (series IUDBEDR in the Bank of England Database), listed by the day each change took effect. The table starts on 6 November 1997 so that every reference date since the Act began is covered.
- The site’s calculator reads this same table. A scheduled job compares it with the Bank of England’s own Bank Rate page every day and records any new change with an audit log. At the moment the table is confirmed up to 4 Oct 2026.
- The CSV has five columns:
effective_from,last_day_in_force(empty for the current rate),bank_rate_percent,change_percentage_pointsandstatutory_late_payment_rate_percent. Dates are ISO 8601.
Contains public sector information licensed under the Open Government Licence v3.0. Source: Bank of England. Interest rules: GOV.UK, charging interest on late commercial payments.
Common questions
What was the Bank of England base rate on a given date?
Find the latest change on or before that date in the table. The rate stayed the same until the next change. The CSV has one row per change, with the first and last day each rate was in force.
Which Bank Rate do I use for statutory interest on a late invoice?
Not today’s. The rate in force on 30 June (for interest that starts to run from 1 July to 31 December) or on 31 December (for interest that starts from 1 January to 30 June), immediately before interest starts. It then stays fixed for that debt.
Can I reuse the data?
Yes. It is Bank of England data published under the Open Government Licence v3.0, which allows commercial reuse with attribution. Keep the attribution line on this page if you republish it.
General information, not legal advice