Under the The Housing (Tenancy Deposits) (Specified Interest Rate) Order 2007, the custodial scheme operated by the Deposit Protection Service may pay interest on held deposits at the rate of the Bank of England base rate less 2.32 percent.

The current base rate has been at 0.5 percent for some years now which effectively renders the order useless for the time-being.

The Housing (Tenancy Deposits) (Specified Interest Rate) (Revocation) (England) Order 2015 revokes the 2007 order in England  only from 4 February 2015. Perhaps Wales will follow soon.

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