Cynergy easy access rate reduction...

soulsaver

A search didn't find any posting for this. emailed today, as probably expected:
"We're reducing the interest rate on your Online Easy Access account

The COVID-19 pandemic has created significant disruption to the UK and World economy. You will have seen the Bank of England respond decisively by reducing the Base Rate twice during March from 0.75% to an historic new low of 0.10%.
To reflect this, we'll be lowering the interest rate on your Online Easy Access account issue 3 from 1.00% gross/AER variable to 0.65% gross/AER variable from 18th May 2020."

Shedman

Yes it will be the underlying rate only that is reducing ...the bonus rate will stay the same until it was due to end originally so basically your overall combined rate is going down to 1.15% from 18 May (till end of your bonus period when it will obviously drop by a further 0.5% ) 

As my bonus rate until mid July is 0.75% plus base rate of 0.75% it means that, although the underlying rate is dropping to the same 0.65% as yours, my combined rate actually only drops in total by 0.1% from 1.5% to 1.4% which is a bit of a result in these times.

soulsaver

Shedman said:

Yes it will be the underlying rate only that is reducing ...the bonus rate will stay the same until it was due to end originally so basically your overall combined rate is going down to 1.15% from 18 May (till end of your bonus period when it will obviously drop by a further 0.5% ) 

As my bonus rate until mid July is 0.75% plus base rate of 0.75% it means that, although the underlying rate is dropping to the same 0.65% as yours, my combined rate actually only drops in total by 0.1% from 1.5% to 1.4% which is a bit of a result in these times.

Yes, I should read the whole email where it was made clear... In my defence I was multitasking..