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Egg cuts rate to 6.25 per cent

Prudential&#39s direct banking arm Egg has cut the interest rate on its savings account to 6.5 per cent from 7.25 per cent in keeping with its guarantee to maintain it at 0.5 per cent above the base rate.


The revised savings account rate with cashcard is now 6 per cent. It was previously 6.75 per cent.


Egg chief executive Mike Harris says: &#34We maintained our savings rate of 7.25 per cent and 6.75 per cent throughout all of January, to enable our customers to gain as much as possible for as long as possible.&#34

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