Ford Money interest rate reduction

Rich1976

Had an email this morning, the rate on the flexible saver is reducing by 0.25% to 4.60% on the 22nd February, despite there being no base rate reductions and is on top of the 0.10% reduction which happened this month .

molerat

Already discussed in other threads

https://forums.moneysavingexpert.com/discussion/596724/the-top-easy-access-savings-discussion-area#latest

https://forums.moneysavingexpert.com/discussion/6469618/monthly-interest-with-ford-easy-saver#latest

Hoenir

Ford Money as the name suggests provide lending for vehicle finance. Lower demand for the product means less need to tap the market for funding. 

Not just bank base rate which determines savings rates. 

boingy

And that reduction is a whole lot better than Virgin, who have just announced a rate cut on the M Plus Saver from 3.55% to 2.5% It doesn't take effect until mid-March but it's still a big reduction to make in one go. Clearly a commercial decision rather than one related to base rates.

surreysaver

Hoenir said:

Ford Money as the name suggests provide lending for vehicle finance. Lower demand for the product means less need to tap the market for funding. 

Not just bank base rate which determines savings rates. 

I always wondered why Ford had savings accounts!