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Base rate update on Savings - two weeks on

Base rate update on Savings - two weeks on

Category: Savings

Updated: 09/11/2017
First Published: 21/12/2007

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

44 savings account providers have announced savings rate cuts since the base rate cut.

24 savings account providers have reduced savings rates by the full 0.25%.

These changes to savings account rates are more or less as expected. A few more smaller institutions have reduced their savings rates earlier, perhaps because they are coming to year end and wanting to have their books in order before the Christmas break.

Also worth a mention are two of the smaller building societies, Cumberland BS and Chesham BS, which have bucked the trend by formally announcing that they will not be reducing savings rates this time.

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