Santander UK has today increased the interest rate on its Santander Edge Saver to 7.0% AER (6.78% gross variable) on balances up to £4,000. This includes an underlying rate of 4.5% AER (4.41% gross variable) and a 2.5% AER (2.47% gross variable) bonus rate upon opening for the first 12 months. 

Customers with £4,000 deposited in the account will typically earn £22.60 in interest every month. Balances over £4,000 do not earn any interest.

Existing customers who have already opened an Edge Saver in the past year will also benefit from the 2.5% AER (2.47% gross variable) bonus rate. The bonus rate for existing Edge Saver customers will apply from between today, until 12 months have passed from the date their account opened.

The Santander Edge Saver is an easy access account, with customers able to deposit as often as they like, as well as withdrawing their funds without any fees or restrictions.

To open an Edge Saver account customers must have a Santander Edge current account. Santander Edge customers can also benefit from up to £20 a month in cashback from essential spending and household bills, as well as fee-free spending abroad. The account has a monthly fee of £3.

Both the Santander Edge current account and the Santander Edge Saver can be opened online or in branch.

Andrea Melville, Director of Current Accounts, Savings and Business Banking, Santander said: “Whether saving for something specific like a holiday or simply putting funds aside for a rainy day, the Edge Saver allows our customers to benefit from the convenience of an easy access account, combined with a fantastic interest rate.  We know that in the current economic climate every penny counts and we are pleased to be able to offer our customers both cashback and interest benefits on our Edge account.”

Santander’s full range of savings products, which can all be opened online or in branch, are:

  • Santander Edge Saver (7.00% AER/6.78% gross for 12 months)
  • Regular Saver (5.00% AER/gross for 12 months)
  • Fixed rate ISA (4.15%-4.20% AER/tax-free depending on term length)
  • Easy Access ISA (3.20% AER/tax-free variable for 12 months)
  • Easy Access Saver (2.50% AER/gross for 12 months)

Anybody interested in opening the Santander Edge Saver account can find out more information on the Santander website or in branch.

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The information contained in our press releases is intended solely for journalists and should not be used by consumers to make financial decisions.

Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. At 30 June 2023, the bank had around 19,400 employees and serves around 14 million active customers, 7 million digital customers via a nationwide 445 branch network, telephone, mobile and online banking. Santander UK is subject to the full supervision of the FCA and the PRA in the UK. Santander UK plc customers’ eligible deposits are protected by the FSCS in the UK.

Banco Santander (SAN SM, STD US, BNC LN) is a leading commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful presence in 10 core markets in the Europe, North America and South America regions, and is one of the largest banks in the world by market capitalization. Santander aims to be the best open financial services platform providing services to individuals, SMEs, corporates, financial institutions and governments. The bank’s purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising €220 billion in green financing between 2019 and 2030. In the first half of 2023, Banco Santander had €1.25 trillion in total funds, 164 million customers, 9,000 branches and 212,000 employees.