The Office for National Statistics (ONS) has revealed the UK's effective interest rates for January 2013.
It was announced by the body that the effective rate paid on households' outstanding time deposits decreased by seven basis points to 2.78 per cent in January.
The ONS also stated that the rate for households' new time deposits increased by three basis points to 2.14 per cent during the first month of the new year.
A statement from the ONS read: "The effective rate on the stock of outstanding secured loans (mortgages) fell to 3.36 per cent in January and the new secured loan rate fell to 3.53 per cent."
The body added this represented a decrease of 12 basis points on the month before and also noted the rate on outstanding unsecured personal loans decreased by two basis points to 7.68 per cent in January.
It was announced last month that the Bank of England is considering negative interest rates. It has kept the base rate of interest at 0.5 per cent for four years.
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