Chase to cut interest rate on 5% savings account twice this month - a double whammy for savers

Chase Bank is adjusting the interest rate on its popular savings account next week ahead of further changes.

Chase bank logo on mobile phone screen, which is on top of laptop keyboard
Chase Saver customers will see two changes to the account's interest rate in February
(Image credit: NurPhoto / Contributor via Getty Images)

The Chase Saver account will reduce by 25 basis points next week, following the February base rate cut.

Offering new customers 5% AER (4.89% gross, variable) for six months, the account is currently one of the best savings accounts on the market – but this won’t remain the case for long.

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Jessica Sheldon
Deputy Digital Editor

Jessica is a financial journalist with extensive experience in digital publishing.

She was previously Digital Finance Editor at GB News and Personal Finance Editor at Express.co.uk. She enjoys writing about savings, pensions and tax, and is passionate about promoting financial education.