First Active reduced the eSavings plus rate last week – now they have also dropped the rate on their eSavings account from 4.75% to 3.5% . They now pay this rate on all balances – it was previously capped at 15k.
First Active branches in Ireland are due to close later this year because of losses at the parent company Royal Bank of Scotland. First Active customer accounts will all be moved to Ulster Bank. The rates announced today are a bit lower than similar accounts at Ulster Bank – so customers will probably be less likely to complain that they lost out because of the move to Ulster. (It will look like a rate rise when the accounts are moved).