Shawbrook Base Rate
Shawbrook has introduced a “Shawbrook Base Rate” (“SBR”) as a reference rate for determining the interest rate on certain of our products.
Shawbrook Bank Base Rate 5.25%
Below are details of the current and historic Shawbrook Base rates.
| Effective date | Shawbrook Base Rate |
| 4 August 2023 | 5.25% |
| 23 June 2023 | 5.00% |
| 12 May 2023 | 4.50% |
| 24 March 2023 | 4.25% |
| 3 February 2023 | 4.00% |
| 16 December 2022 | 3.50% |
| 4 November 2022 | 3.00% |
| 23 September 2022 | 2.25% |
| 05 August 2022 | 1.75% |
| 17 June 2022 | 1.25% |
| 06 May 2022 | 1.00% |
| 18 March 2022 | 0.75% |
| 4 February 2022 | 0.50% |
| 17 December 2021 | 0.25% |
| 1 April 2020 | 0.10% |
We will take into account the Bank of England’s Bank Rate when setting SBR. SBR will typically be the same as the Bank of England's Bank Rate, but is not guaranteed to be the same.
Examples of where the Shawbrook Base Rate may be different to the Bank of England’s Bank Rate include (but are not limited to):
(A) where the Bank of England’s Bank Rate does not reflect the cost to us of the funds we use in making loans available; and/or
(B) where changes are made to the nature of the Bank of England’s Bank Rate.
Please note that many of Shawbrook’s loan products have a minimum rate (otherwise known as a “floor”) as part of their Terms & Conditions. Where SBR is below the minimum rate specified in your contract, that minimum rate will be applied.