Chip easy access 4.85%? I only get 4.75

jacoscar

I opened my Chip easy access in September; I had a note written down that it was giving 5% AER and it would only allow 3 withdrawals.
I just opened the app and it says it's paying me 4.75AER; it's unclear if it's including or + the boost, they just say I'm receiving it.

I can't find any email saying the were reducing the rate.
Furthermore, the Chip easy access is listed by MSE as 4.85% AER.
Could someone clarify?

la531983

Just opened my app, it's 4.85% although that includes a 1.03% boost for 6 months only so other products may be better.

masonic

The unboosted part of the rate tracks the BoE base rate, which has reduced by 0.25% since you opened it. The current boost promotion is more generous than the one you took up. That would seem to explain everything.