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MoJ announces interest rate increase to CFO accounts

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Published on: 24 February 2023
Published by LNB News

LNB News 24/02/2023

Document Information

Issue Date: 24 February 2023

Published Date: 24 February 2023

Jurisdiction(s): England and Wales

Article summary

The Ministry of Justice (MoJ) has announced an increase to the interest rates for Courts Funds Office (CFO) special and basic accounts. The interest rate on special accounts has increased 3.5% to 4.0% and the interest rate on basic accounts has increased from 2.625% to 3.0%. The increase was implemented on 13 February 2023 in response to the Bank of England’s base rate increase on 2 February 2023, and to ensure that the CFO Service can continue to meet operational costs.

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Jurisdiction(s):
England and Wales

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