First Direct savings rates cut

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First Direct savings rates cut

Fri 12th Aug 2005

First Direct has announced it will be cutting most of its savings rates by 0.25 per cent, in line with the base rate cut last week.

However, the rate on the popular e-savings account has been cut by 0.20 per cent to 5 per cent.

The bank is also launching a second issue of its e-ISA, which guarantees to pay 5.5 per cent AER until February 15th 2006.

Richard Kimber, first direct’s chief executive commented on the announcement.

"This year we’ve shown that first direct is more than the UK’s most recommended bank - we’re also a serious player in the savings market."

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