Santander UK has announced that from today all personal current account customers are eligible to open a Regular eSaver account paying 2.50% interest AER/Gross for 12 months, bringing better savings to over 5.4 million UK customers.
The Regular e-Saver, formerly only available for 1I2I3, Select and Private Current Account holders, is now available to all Santander personal current account customers including Everyday Current Account and Basic Current Account holders.
Santander has, in addition, increased rates across its savings product range, providing savers with choice and better returns to help achieve their savings goals.
Hetal Parmar, Head of Banking and Savings at Santander UK, said: “Saving is important to many people for their financial wellbeing, whether it’s for a rainy-day, home renovations or something else. Santander offers a range of savings accounts, now boosted by some of the best rates from a High Street bank, to support millions of customers with their savings goals.”
This month, Santander also increased the in-credit interest rate on its 1I2I3, Select and Private current accounts from 0.50% AER/gross (variable) to 0.75% AER/gross (variable) on balances up to £20,000.
The increase means customers can earn up to £150 per year in interest, plus additional benefits of up to 3% cashback on household bills paid by direct debit, for a £4 monthly fee.
Fixed Rate Bond and ISA accounts
The following changes to Santander’s Fixed Rate Bonds and ISA accounts are available immediately:
1I2I3 exclusive savings accounts:
• 1 Year Fixed Rate Bond will increase from 0.70% to 1.50% AER/Gross
• 2 Year Fixed Rate Bond will increase from 0.90% to 2.00% AER/Gross
• 3 Year Fixed Rate Bond will increase from 1.00% to 2.50% AER/Gross
Non-1I2I3 savings accounts:
• 1 Year Fixed Rate Bond will increase from 0.60% to 1.40% AER/Gross
• 2 Year Fixed Rate Bond will increase from 0.80% to 1.90% AER/Gross
• 3 Year Fixed Rate Bond will increase from 0.90% to 2.40% AER/Gross
Fixed Rate ISA accounts:
• Two Year Fixed Rate ISA will increase from 1.30% to 2.00% AER/tax-free for 2 years for savings of £500 and over
Easy Access accounts
Santander has also announced new rates to its Easy Access eSaver Accounts, which only requires £1 to open, providing savers improved returns on their money with the flexibility to have it available whenever needed. The following products are available immediately to new openings:
• eSaver will increase from 0.25% to 0.75% AER/Gross(variable)
• Private eSaver will increase from 0.40% to 0.90% AER/Gross (variable)
- Ends –
Notes to editors
1 The Regular e-Saver, which can be opened online or on mobile, is available to existing current account customers aged 16 and over, excluding 1|2|3 Mini In trust customers. Customers can pay in up to £200 per month, up to a maximum annual balance of £2,400.
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Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. At 31 December 2021, the bank had around 19,200 employees and serves around 14 million active customers, via a nationwide branch network, telephone, mobile and online banking. 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’ eligible deposits 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, 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. Its 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 over €120 billion in green financing between 2019 and 2025, as well as financially empowering more than 10 million people over the same period. At the end of 2021, Banco Santander had €1.15 trillion in total funds, 153 million customers, of which 25.4 million are loyal and 47.4 million are digital, 9,900 branches and 197,000 employees.