Interest Rate Cuts

[Sarah]

Marcus will be decreasing their Online Savings Account underlying variable interest rate on 23 August 2024.

Code: Select all

                                           Current       From 23/08/24
Underlying interest rate                   4.04% AER     3.79% AER
Bonus rate                                 0.49% Gross   0.49% Gross
Total interest rate including bonus rate   4.55% AER     4.30% AER

[Sarah]

Chase UK

On 1 August 2024, the Bank of England base rate was reduced from 5.25% to 5%. As the Chase saver rate is tied to the Bank of England base rate, the new Chase saver variable rate is now 3.85% AER (3.78% gross).

That reduces the rate with 1% bonus to 4.85% AER.

This additional change also applies from 8 October 2024:

The AER of the Chase saver account is currently 1.15% below the Bank of England base rate. We're changing this percentage difference from 1.15% to 1.25%. This means if the Bank of England rate is 5%, the AER of our saver will be 3.75%. You can find the Bank of England base rate on their website at any time.