Shawbrook have joined the rate reduction party

techwatcher

We have a Shawbrook Easy Access Issue 13 account paying 1.39% and have had an email this morning informing us that the interest rate will be reduced from 1.39% to 1.00% on 20/03/20.

Looks like we will be closing that account and moving the funds to somewhere (slightly) more profitable.

pearl123

The interest rate reductions seem to be happening everywhere. I'll be removing my savings too. Regular savers seem to be the way to go perhaps.

d63

techwatcher said:

We have a Shawbrook Easy Access Issue 13 account paying 1.39% and have had an email this morning informing us that the interest rate will be reduced from 1.39% to 1.00% on 20/03/20.

Looks like we will be closing that account and moving the funds to somewhere (slightly) more profitable.

that seems a bit harsh seeing as how their current issue 19 is advertised as paying 1.21% AER.
i have the issue 15 currently at 1.48% but is being reduced to 1.35% on the 20th, so i dare say i will just leave the money there for now, but all the same it is odd that your i13 is going down by 0.39% but the i15 only 0.13%. maybe its because its less than a year since opening? oh! who knows! very much doubt the chairmans compensation will be going down any time soon. (compensation!! what a wonderful word, whatever happened to salary?)

 

SallySunshine

Depressing isn't it?  Chasing around for crumbs.   I too, have Issue 15 at 1.48% and now 1.35% is luxury compared with the other savage cuts going on daily.
Still got to close one Santander single 123 acc and make the other joint one into a Lite account in April