In response to the increase in the Bank of England base rate on 23 March 2023, the Lord Chancellor has reviewed the Court Funds Office (CFO) rates of interest payable to clients and from 21 April 2023 these changed to the following:

  • Special Account – increased from 4.0% to 4.25%; and
  • Basic Account – increased from 3.0% to 3.188%.

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.

See: Interest rate increases on the Court Funds Office special and basic accounts – GOV.UK (www.gov.uk)