Hargreaves Lansdown announces interest rate cuts for customer accounts

Hargreaves Lansdown has informed customers that it will reduce interest rates on uninvested cash in accounts due to the Bank of England's recent interest rate cut. Starting March 10, 2025, interest rates for ISAs will drop. For balances over £100,000, the rate will decrease from 3.25% to 3.15%. Other balances will also see reductions, with rates for £0 to £9,999 falling from 2.50% to 2.30%. The company noted that interest in ISA and SIPP accounts is tax-free, while other accounts are subject to tax rules. Hargreaves Lansdown also emphasized the importance of maintaining some cash savings for emergencies.