13 August, 2025, LONDON –

Experts at personal finance site Finder are warning Brits to review their savings urgently, as 6 providers with top rates slashed their offering straight after the base rate cut on the 7th August, and more rates are dropping in the coming days and weeks.

Analysts have been tracking savings rate changes and a further 7 providers have scheduled to make cuts, including 2 this Thursday 14 August.

Which rates are dropping?

Those saving with Chip, Plum, Zopa, Atom Bank, Trading 212 and Monument – providers which had some of the most competitive rates on the market – have already seen rates drop either on the day of the base rate announcement or the following day. The table with rate changes can be seen below.

On Thursday 14 August, Chase’s boosted saver – one of the best rates on the market – will also drop from 5% AER to 4.75% AER. On the same day, Co-op Bank will reduce its Base Rate Tracker savings accounts by 0.25%.

Other cuts have been scheduled for later in the month – on 22 August, Moneybox will reduce its standard cash ISA rate from 3.75% AER to 3.5% AER, while Aldermore will drop its savings account and ISA by an even bigger margin – going from 3.55% AER to 3.15% AER.

Customers with leading high street banks should also be wary in the coming weeks. NatWest and RBS customers will see rates on multiple accounts drop on 28 August, with Digital Regular Savers and Flexible Savers at both banks falling from 1.15% to 1.06% AER. Meanwhile, those with Santander Good for Life ISA or Rate for Life account will both have interest rates lowered by 0.25% from 2 September, with the former going from 4.25% to 4% and the latter going from 4.5% to 4.25% (on balances over £1,000).

Other banks have displayed messages on site that they will be assessing and reducing interest rates on products soon – so customers should be vigilant for rate drops that are yet to be announced.

Commenting on the best ways to maximise savings following a base rate cut, Kate Steere, personal finance expert at Finder, said:

“No one likes life admin, but it really does pay to stay on top of your savings. Easy access savings rates are always changing, and the provider offering the best deal won’t necessarily stay as the most competitive – especially when the base rate moves. So, it’s a game of constantly seeing who has the most tempting offer to get the biggest boost on your savings.

“Many providers now offer boosted rates for between 3-12 months – and these often beat the base rate even with cuts – so sign up to one of those and set a reminder in your calendar to switch as soon as it runs out.

“New customers with Chase can get a 2.25% boost on the saver account for 12 months – even when the rate drops on 14 August, this will still mean a competitive AER of 4.75%. If the variable rate stays the same, you could earn up to £475 interest over 12 months on a deposit of £10,000. Elsewhere, Chip is offering a boosted rate on its cash ISA – giving new customers the chance to earn 4.7% AER (although this drops after 3 months). Some investing platforms also offer competitive rates on uninvested cash, so make sure you don’t ignore those in your research.”