Shawbrook EA rate reduction.... 1.35 to 0.75%

soulsaver

Email tonight...

" We are writing to let you know that we will be decreasing the interest rate on your Easy Access savings product. The interest rate on your account will change from 1.35% Gross/AER (variable) to 0.75% Gross/AER (variable) on 20/07/2020. Please note, if your balance goes below £1,000, the rate will be 0.05% Gross/AER (variable)."

sairy.gamp

Marvellous! I just transferred some money to them to dodge a reduction elsewhere and now will have to move it back tomorrow as it will be better off where it was! This is fun...:) If it keeps up like this 'The Shoe Box Under the Bed Building Society' will be the best bet!

hoc

You missed the paragraph before...

"From time to time, we move our interest rates to reflect the savings market while ensuring we remain consistently competitive for our customers."

consistently competitive...!

roddydogs

No doubt my 1.18% cash isa will soon go to 0.50% that's all they are offering new customers. Already switched 3 times in last 2 months.