Charter reducing interest rate now

On 28 May [2020], Charter Savings Bank (the bank that provides your Savings Pot) will be reducing the interest rate on your Easy Access Savings Pot to 0.56% AER/Gross.

For me, this is the account I make monthly payments into for my Amazon Prime, so of little effect really.

Just waiting on Shawbrook now. Still showing at 1.15% at the moment, in-app.


Moving to Marcus, closure and withdrawal in the morning

Let’s see what happens but the rates alot better so I’m hoping GS hold it.

I wonder how much both the savings pots providers dropping their rates will have an impact on monzos % cut.

Marcus does seem like the only option atm

I do wonder if Marcus will drop below 1% soon

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Has Investec made any announcement? I’ve just opened a pot with them at 0.93% in readiness for the Paragon rate going down.

Any lower than that and I think I’m gong to bite the bullet and open a Marcus account.

Marcus is also constantly dropping rates :frowning: . While they are offering the best on demand rate in the market, by a wide margin, if you’re ok to have your money locked up for several months, people should definitely checkout

The following products specifically caught my eye as an alternative to Marcus, as long as you don’t need instant access to your money -->
1.6% from ICICI Bank UK with 95 day notice period
1.4% from ICICI Bank UK with 45 day notice period