Major bank to make significant change to customer interest rates

NewsMajor bank to make significant change to customer interest ratesA major bank will slash its interest rates for some customersleicestermercuryBookmarkShareCommentsNewsByKieran IsginMoney

& Lifestyle writer12:37, 13 JAN 2025BookmarkInterest rates are to change one of the bank's accounts (Image: Getty Images)Get the latest Leicestershire Live breaking news on WhatsApp

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Customers at a major bank are set to be hit by significant change next month. Chase confirmed its plans to cut the interest rate on its easy-access Chase Saver account on February 19.

This means savers who keep an account with Chase will see lower returns on their cash. The change will come into affect due to how Chase Saver rates track alongside the Bank of

England's base rate.

This currently stands at 4.75 per cent. Right now, Chase's interest rate is 1.25 per cent below the base rate, but this is set to drop even further next month.

As a result, savers interest rates will drop from 3.5 per cent 3.25 per cent. However, it's important to note that the base rate could change before then.