Atom Bank Interest Drop

topcat105

Just had an email from Atom saying they are reducing the savings rate from 4.6% to 4% on 22nd August.
Why the massive drop ?
I was expecting a drop of 0.25%.
I recently moved a large chunk of my savings to them but on 1st September it will be coming out again !

avidusmortis

That does seem pretty large, it's getting harder to find good rates now

Nasqueron

topcat105 said:

Just had an email from Atom saying they are reducing the savings rate from 4.6% to 4% on 22nd August.
Why the massive drop ?
I was expecting a drop of 0.25%.
I recently moved a large chunk of my savings to them but on 1st September it will be coming out again !

Depends if they held the drops on previous ones or not

Did they send out an email saying it will not be tied to base rate or something? Kroo switch to -1.1% under base instead of -0.9% for example

HumberFlyer

Only a couple of weeks gone by since they reduced it....4.75 to 4.60....now 4.6 to 4.0

Isthisforreal99

Looks like they have increased their fixed term saver rates and reduced the instant access.

SiliconChip

My records since I opened the account at the start of 2025 show the following rates:

• Opening 4.85%
• 21/2/25 4.6%
• 21/3/25 4.75%
• 31/7/25 4.6%
• 22/8/25 4.0%

In that time the base rate has dropped from 4.75% to 4% so the latest change by Atom probably brings their rate roughly back into line, even if the latest drop is a bit precipitious.

danny13579

Second drop in a couple of weeks. Was 4.75%, now 4.6%, about to be 4%. My interest rate at the reward rate is payable in 2 days. As soon as that's paid it's bye bye Atom!