Metro Bank to slash savings rates below 4% – is now a good time to move your cash?

Metro Bank savings rates are set to plummet below 4%. But, there’s still time for savers to move their money – should you shop around now and which accounts are affected?

Metro Bank Holdings Plc Branches As Lender Seeks Capital Raise
(Image credit: Bloomberg / Contributor)

Metro Bank has notified its customers that all of its Current Limited Edition savings rates will plummet below 4% in a couple of months’ time. 

The challenger bank has been a top player when it comes to the best savings accounts as it’s offered market-leading returns over the past year. But it seems the provider is now changing strategy. The announcement from Metro Bank came a day before the Bank of England held the base rate for the sixth time. 

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Vaishali has a background in personal finance and a passion for helping people manage their finances. As a former staff writer for MoneyWeek, Vaishali covered the latest news, trends and insights on property, savings and ISAs.

She also has bylines for the U.S. personal finance site Kiplinger.com and Ideal Home, GoodTo, inews, The Week and the Leicester Mercury.