Law firms are required to pay a fair rate of interest on client monies held. The challenge lies in implementing a consistent approach that meets regulatory requirements (SRA Accounts Rules, Rule 7.1) and is clearly documented within the firm’s client interest policy.
 
The attached document provides guidance on how to achieve this.
 
The rates shown reflect the advertised interest rates applicable to both designated and general client accounts. This guide should be used to assist in determining and paying a fair rate of interest to clients.