Chase cuts interest rate on boosted savings account to 4.5% – is it worth it?

Chase’s Boosted Saver rate has fallen following the Bank of England’s decision to cut interest rates. Is it still worth it, and who is eligible?

Chase logo on phone
(Image credit: Photo by Beata Zawrzel/NurPhoto via Getty Images)

Chase Bank has cut the interest rate on its boosted savings account, meaning savers can now only earn up to 4.5% AER.

This rate, which includes a six-month 1.75% AER (fixed) bonus rate, was previously 4.75% (variable).

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Daniel is a digital journalist at Moneyweek and enjoys writing about personal finance, economics, and politics. He previously worked at The Economist in their Audience team.

Daniel studied History at Emmanuel College, Cambridge and specialised in the history of political thought. In his free time, he likes reading, listening to music, and cooking overambitious meals.