From Monday 3 April 2017, Santander will be increasing the rate on its Regular eSaver for its 1|2|3 World1 and Select customers to offer a 5.00 per cent AER gross (fixed) preferential rate2, with other customers receiving a competitive 2.50 per cent AER gross (fixed).
Customers can open the account online or in branch and can access their account using online or mobile banking. There are no penalties for withdrawals and there is no minimum opening or monthly deposit. Customers can save up to £200 each month in the Regular eSaver by setting up a standing order from their Santander current account. After 12 months the account will change to an Everyday Saver.
Santander also offers a Help to Buy ISA paying 2.00 per cent AER tax free (variable) for Santander 1|2|3 World and Select customers. For all other customers the Help to Buy ISA pays 1.50 percent AER tax free (variable).
The bank’s latest Two Year Fixed Rate ISA pays 0.80 per cent AER tax free (fixed) for new and existing Santander 1|2|3 World and Select customers. The standard Two Year Fixed Rate ISA pays 0.55 per cent AER tax free (fixed).
Santander’s eISA is also available to new and existing 1|2|3 World and Select customers offering 0.60 per cent AER tax free (variable) for 12 months and 0.35 per cent AER tax free (variable) to all other customers. It allows access via online and mobile banking. Both the Two Year Fixed Rate ISA and the eISA require a minimum opening balance of £500.
Helen Bierton, Head of Savings at Santander commented: “Helping families prosper and make their money go that little bit further is something we are committed to. We have a range of products to suit individual customer needs and to help people achieve their savings goals. Our ISAs give customers the chance to earn interest tax free, and because we like to reward loyalty, our 1|2|3 and Select customers will receive preferential rates. Developing a savings habit – no matter how small – is important as it not only provides a safety net but is a way of providing for your future, and those of your loved ones.”
All Santander cash ISAs accept transfers in from existing cash ISAs and can also be topped up in the new tax year, helping customers keep their ISA savings in one account, subject to specific product rules. Customers can access the preferential rates by being part of the 1|2|3 World; having either a 1|2|3 Current Account or 1|2|3 Credit Card. These products provide a range of benefits including cashback on household bills, cashback on spending and interest up to 1.50% AER on balances between £3,000 and £20,000.
Santander Savings Products
|1|2|3/Select Regular eSaver||5.00% AER/gross (fixed)|
|Regular eSaver||2.50% AER/gross (fixed)|
|1|2|3/Select Help to Buy: ISA||2.00% AER/tax free (variable)|
|Help to Buy: ISA||1 .50% AER/tax free (variable)|
|1|2|3/Select 2 Year Fixed Rate ISA||0.80% AER/tax free (fixed)|
|2 Year Fixed Rate ISA||0.55% AER/tax free (fixed)|
|1|2|3/Select eISA||0.60% AER/tax free (variable)|
|eISA||0.35% AER/tax free (variable)|
|Easy ISA||0.10% - 0.25% AER/tax free (variable)|
|Inheritance ISA||0.10% - 0.50% AER/tax free (variable)|
|1|2|3/Select Junior ISA||2.75% AER/tax free (variable)|
|Junior ISA||2.25% AER/tax free (variable)|
|1|2|3/Select eSaver||0.25% AER/gross (variable)|
|eSaver||0.15% AER/gross (variable|
The information contained in our press releases is intended solely for journalists and should not be used by consumers to make financial decisions.
Notes to Editors
- Santander 1|2|3 World customers are customers with either a 1|2|3 Current Account, 1|2|3 Mini or 1|2|3 Credit Card.
- Santander’s 1|2|3 World customers opening the Regular eSaver from 3rd April will receive the new 5.00 per cent rate, and those who opened the account from 13th March will also be moved across to the higher rate with interest backdated.
Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. It has brought real competition to the UK, through its innovative products for retail customers and relationship banking model for UK SMEs. At 31 December 2016, the bank serves around 14 million active customers with c20,000 employees and operates through 841 branches (which includes 60 university branches) and 67 regional Corporate Business Centres. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers are protected by the Financial Services Compensation Scheme (FSCS) in the UK.
Banco Santander (SAN SM, STD US, BNC LN) is a leading retail and commercial bank, headquartered in Spain, with a meaningful market share in 10 core countries in Europe and the Americas. It is among the world’s top banks by market capitalization. The bank’s purpose is to help people and businesses prosper, in a way that is simple, personal and fair. Founded in 1857, Santander had EUR 1.52 trillion in managed funds, 125 million customers, 12,200 branches and 188,000 employees at the close of 2016. Santander made attributable profit of EUR 6,204 million in 2016, an increase of 4% compared to the previous year.
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