Chase Saver rate reducing by 0.25% - base rate offset increasing to 1.5%

sausage_time

From email..

We’re making some changes to our Saver Account Terms and Conditions from 19 February 2025 that you should be aware of. We’ve outlined a summary of the changes below: 

• The AER of the Chase saver account is currently 1.25% below the Bank of England base rate. We're changing this percentage difference from 1.25% to 1.50%. This means if the Bank of England rate is 4.75%, the AER of our saver will be 3.25%. You can find the Bank of England base rate on their website at any time. 

You've also got a Chase saver with a boosted rate. This boosted rate offer is subject to any changes to the standard Chase saver variable rate.

Slinky

Are there any other banks offering better rates where you can have multiple pots?

wiseonesomeofthetime

Now they are taking the p!ss though.

BoE doesn't reduce rates for them so they decide to do it themselves 🤦‍♂️

My money has already sailed though, so doesn't greatly affect me 🤷‍♂️😂

Hoenir

wiseonesomeofthetime said:

Now they are taking the p!ss though.

BoE doesn't reduce rates for them so they decide to do it themselves 🤦‍♂️

They need to make a profit on the money they borrow from you by lending it out. Nothing to do with the actions of the BOE. 

Newbie_John

No more savings with them since November.

I don't get that move, bank that was trying to compete with other big names offers now less than other major banks - they really must believe people won't notice / don't care.

If they drop that 1% cashback I'll close it..

Stoodles

Slinky said:

Are there any other banks offering better rates where you can have multiple pots?

Can anyone recommend another bank? The pots work well for us, but Chase interest rates don't!

jimexbox

Slinky said:

Are there any other banks offering better rates where you can have multiple pots?

Tandem offer pots, 4.4% AER, includes .25% top up until April. Not sure if new accounts get the top up.

I moved away from pots to one primary pot, for ease of transfer. I keep virtual pots on my phone using the savings goal app. Don't set a target if anyone tries it. 

Hoenir

Newbie_John said:

I don't get that move, bank that was trying to compete with other big names offers now less than other major banks - they really must believe people won't notice / don't care.

Commercial logic has no sentiment. Banks are no different to any other business. They've been hit hard by the recent budget. The impact of which is going to manifest itself in so many ways. The Government has found a way of raising revenue without seemingly breaking their pre-election pledges. 

redpete

Benefits still enough for me - cashback and roundup perks of using the current account, immediate notifications of spending, ease of moving money from savings to current account (several times I've had debit card payments fail because of insufficient funds, within maybe 1 minute I can transfer money from savings), standing orders from savings accounts (mainly feeder into regular savings accounts elsewhere).

Archerychick

I’ll also be looking for a new EA account when my boost expires mid January. I don’t keep much in this account but I still want to maximise the interest and it won’t be competitive anymore