Major building society to slash interest rates on 37 savings accounts in days

A MAJOR building society is set to slash interest rates on 37 of its personal savings accounts within days.

Newcastle Building Society is dropping rates on dozens of variable rate savings accounts from June 5.

GettyHand putting coins in a piggy bank for save money and Saving Money concept.[/caption]

It comes after the Bank of England (BoE) cut its base rate from 4.5% to 4.25% earlier this month.

The base rate is the rate charged by the BoE to smaller high street banks on loans...