NatWest and RBS cut easy-access savings rates to 1.6% after Bank of England lowered base rate to 5%.

NatWest and RBS cut their main easy-access savings product interest rates from 1.75% to 1.6% after the Bank of England lowered the base rate from 5.25% to 5%. UK households are being urged to move their money to higher-paying accounts such as Chip Instant Access (4.58% AER) or switch offers and fixed-rate accounts to avoid potential losses. Finder.com research shows half of the 16 major banks have adjusted rates or announced plans to do so.

August 27, 2024
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