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Aldermore halves easy access savings rates

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    Aldermore halves easy access savings rates

    On 11 March the Bank of England reduced the base rate from 0.75% to 0.25%, and then on 19 March made a further reduction to 0.10%, a drop of 0.65% in total.

    As a result, we’ve made the difficult decision to reduce the interest rate on our Easy Access savings account by 0.50%.

    We’re giving you at least 30 days advance notice of the change, which will happen on 1 July 2020.

    So you can see the changes at a glance, there's a summary below:
    Easy Access
    Issues 1 - 7 Current rate
    Rate effective from
    1 July 2020
    Gross annual interest
    rate/AER* 1.00% 0.50%
    Gross monthly interest rate 1.00% 0.50%
    * AER stands for annual equivalent rate and illustrates the interest rate if we paid and compounded it once each year.
    The rate change will take place automatically on 1 July 2020.
    Just a note of this as I know a few here use them. There are other 1% accounts available (for now at least) like TSB and Shawbrook but they'll be running them at cost to you, so I wouldn't expect those to hang around for long either.
    ⭐️ Gold Star Contractor

    #2
    Same w/ Virgin Money. Other than the ones you mention, Investec has a 1% rate for a 32-day notice account w/ a 40k+ deposit (FSCS).

    Comment


      #3
      Wow - sorry for your lose

      Thoughts and prayers

      Do we need to clap for you ?


      Sent from my iPhone using Contractor UK Forum

      Comment


        #4
        Originally posted by GhostofTarbera View Post
        Wow - sorry for your lose

        Thoughts and prayers

        Do we need to clap for you ?


        Sent from my iPhone using Contractor UK Forum
        I think no-one needs the clap from you

        Comment


          #5
          Next stop: - 1% easy access, -0.25% 180 day notice.

          Comment


            #6
            Santander have reduced their business "reward" saver rate from 0.1% to 0.01%

            Comment


              #7
              Originally posted by PerfectStorm View Post
              Just a note of this as I know a few here use them. There are other 1% accounts available (for now at least) like TSB and Shawbrook but they'll be running them at cost to you, so I wouldn't expect those to hang around for long either.
              I guess I have this email to look forward to imminently. Just had a look on TSB and they are already stating 0.5% from July so probably all will follow suit.

              Comment


                #8
                Originally posted by mudskipper View Post
                Santander have reduced their business "reward" saver rate from 0.1% to 0.01%
                That doesn't sound very rewarding.
                ⭐️ Gold Star Contractor

                Comment


                  #9
                  Originally posted by PerfectStorm View Post
                  That doesn't sound very rewarding.
                  It's popular in the masochist community.

                  Comment


                    #10
                    Crazy not to put everything into premium bonds then


                    Sent from my iPhone using Contractor UK Forum

                    Comment

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