The New Top Easy Access Savings Discussion Area

slinger2

MichaelAP said:

pecunianonolet said:

explorerm said:

looks like CHIP have reduced the rate already on my Chip Easy Access Account from 4.75% to 4.49%! They seem to respond very fast to interest rate cuts, the same day ! Also happened with a ISA I had with Chip too! Will be emptying my account today !

It's a tracker account so they just do what they told you in the T&C you agreed to when you opened the account(s). Note, when you transfer out the ISA, should you wish to do so, you won't be able to open another ISA with them. 

Yes, a tracker. However, they reduced both accounts by 0.26%

It's the "gross" rate that tracks the BOE rate. When the gross rates are converted to "AER" the difference can be slightly different. In this case 0.26% instead of 0.25%.

GalacticaActual

Those with the Chase Saver account (myself included) will know that their rates are now tied to the Bank of England base rate.

It was tied at 1.25% below base rate but changing to 1.50% below base rate on the 19th February 2025.

Consequently, the following interest rates will apply to the ordinary Chase Saver account (non-boosted rates):

From 14th November 2024: AER 3.50%
From 13th February 2025: AER 3.25%
From 19th February 2025: AER 3.00%

https://www.chase.co.uk/gb/en/support/interest-rates-explained/

Dizzycap

Pompeydave1967 said:

Havnt had anything from trading 212 yet , still sitting at 5.12% on cash isa but I’m waiting !

They are usually last and at a later date.

GetRichOrDieSaving

Pompeydave1967 said:

Havnt had anything from trading 212 yet , still sitting at 5.12% on cash isa but I’m waiting !

5.12%, I’ve been on 4.9% for about a month now…..

Pompeydave1967

GetRichOrDieSaving said:

Pompeydave1967 said:

Havnt had anything from trading 212 yet , still sitting at 5.12% on cash isa but I’m waiting !

5.12%, I’ve been on 4.9% for about a month now…..

Opened mine around 10 days ago @ 5.12%. Expecting a drop but not a bad rate at all.

SnowMan

Furness Double Access Saver (issue 1) has reduced to 4.4% AER from 4.65% from 7th February 2025 it appears according to the interest rate document for no longer available accounts downloadable from here

https://www.furnessbs.co.uk/savings/savings-interest-rates

When I log in however it is still showing as 4.65% AER. And my understanding from page 12 of their general savings terms and conditions was that they would give you 14 days notice of a reduction in interest if your account has £100 or more in it, and I've not received notice of a rate cut.

Can anyone explain what is going on here?

Edit: just checked with Furness and the rate change is 21st February 2025 not 7th February 2025 as shown in the document mentioned.

GetRichOrDieSaving

Pompeydave1967 said:

GetRichOrDieSaving said:

Pompeydave1967 said:

Havnt had anything from trading 212 yet , still sitting at 5.12% on cash isa but I’m waiting !

5.12%, I’ve been on 4.9% for about a month now…..

Opened mine around 10 days ago @ 5.12%. Expecting a drop but not a bad rate at all.

Ah ok, they must have kept the rate higher for new customers. 

Bobblehat

SnowMan said:

Furness Double Access Saver (issue 1) has reduced to 4.4% AER from 4.65% from 7th February 2025 it appears according to the interest rate document for no longer available accounts downloadable from here

https://www.furnessbs.co.uk/savings/savings-interest-rates

When I log in however it is still showing as 4.65% AER. And my understanding from page 12 of their general savings terms and conditions was that they would give you 14 days notice of a reduction in interest if your account has £100 or more in it, and I've not received notice of a rate cut.

Can anyone explain what is going on here?

Edit: just checked with Furness and the rate change is 21st February 2025 not 7th February 2025 as shown in the document mentioned.

They just made an omission on that pdf sheet saying the date of change is 21st Feb as you've already found out. Emails/letters are going out today if more than £100 in account. 

Another omission is on the "still available" list that your link takes you to. The Easy Access that the Christmas RS Iss 1 converted into on maturity is going down 0.1% to 2.25% on 21st Feb too.

Furness do seem to occasionally move their dates forward if they spot errors in their documentation, so I wouldn't be overly surprised if the 21st is not set in stone, but it probably will be 

Mr_Smith_4721

Just got an email from Atom bank.

We're lowering the interest (rates) on your Instant Saver Reward in 14 days.

From 21/02/2025 your new rates will be:

Reward rate
Current rate: 4.85%
New Rate: 4.60%

Withdrawal rate
Current rate: 3.25%
New rate: 3.00%

All above rates are AER.

janusdesign

Ulster Bank Loyalty Saver dropping from 4.50% to 4.25% (£5k+) / 1.75% to 1.50% (<£5k) on Tuesday 22nd April.