The Limited Access Saver
comes with
Interest
2.50% AER /2.47% gross gross (variable) in calendar months where you make 2 or fewer withdrawals.
1.20% AER / 1.19% gross (variable) in calendar months where you make 3 or more withdrawals. The lower interest rate will apply for the whole calendar month
The term of the Limited Access Saver is 12 months.
How it works
You’re a UK resident aged 16 and over
Receive a higher rate of interest in calendar months where you make 2 or fewer withdrawals
Receive a lower rate of interest in calendar months where you make 3 or more withdrawals. Your interest rate will go down to the lower rate for the whole calendar
month
The rate on your account will automatically switch back to the higher rate on the first day of the next calendar month
Account name
Limited Access Saver (Issue 2)
What is the interest rate?
AER/Gross (variable)
| Tier | Interest in calendar months with 2 or fewer withdrawals | Interest in calendar months with 3 or more withdrawals |
|---|---|---|
| £1+ | 2.50% AER / 2.47% gross | 1.20% AER / 1.19% gross |
- We work out the interest we’ll pay on the account each day.
- We pay interest into your account each month.
Can Santander change the interest rate?
Yes, we can change the interest rate on this account as explained in the general terms.
Your interest rate can also change based on the number of withdrawals you make in a calendar month.
What would the estimated balance be after 12 months based on a £1,000 deposit?
| Account name | Interest earned | Balance after 12 months |
|---|---|---|
| Limited Access Saver | £25.00 | £1,025.00 |
To work out the estimated balance, we’ve assumed that:
- The account is opened and the initial payment into the account is made on first day of the month.
- You don’t pay in any more money or take any out.
- We pay interest monthly back into the account.
- There is no change to the interest rate.
These illustrations are only examples and don’t take into account individual circumstances.
How do I open and manage my account?
Eligibility
You can have this account if you’re 16 or over and live in the UK.
You can have an account in your sole name or jointly with one other person.
How to open the account
You can apply on our website, using Online or Mobile Banking, in branch or over the phone.
Managing the account
You can manage your account in branch, on our website, using Online or Mobile Banking, or over the phone.
Paying money in
Minimum balance: £1. Maximum balance £2 million.
Can I withdraw money?
Yes, you can make payments out of your account on our website, using Online and Mobile Banking, in branch or over the phone.
Making withdrawals may impact the interest you earn. Your interest rate will drop if you make more than 2 withdrawals from your account in a calendar month. The lower interest rate will apply for the whole calendar month.
At the end of the term
The term of the account is 12 months. At the end of the term, we’ll transfer your account to an Everyday Saver.
We’ll contact you with more details, including your new interest rate, before the term ends.
Additional information
Tell us if you change your mind
You can close your account at any time during your ‘cancellation period’ – we won’t charge you for it. This is 14 days, starting the day after we confirmed your account is open.
If you do this, we’ll return your money together with any interest we owe you. We’ll do this as soon as we can (and within 30 days from when you tell us).
You can also close your account at any other time outside this cancellation period – we won’t charge you.
Tax status
We pay interest without taking off income tax. This is known as ‘gross’ and the interest rate we give you reflects this. If the total interest you receive in a tax year is more than any Personal Savings Allowance that applies to you, you may have to pay tax on it. You’ll need to do this directly with HMRC.
Statements
We'll send you a statement once a year in April.
Update rates and information correct date to 23 January 2024
Everything you need to know before you apply
We recommend reading the information in the documents below before you apply. You may like to save or print them so you can refer to them in the future.
To view these documents, you may need to download Adobe Reader
Withdrawals, Interest and Calendar Months
A withdrawal is any money you take out of your account. You can see a list of withdrawals in Mobile and Online Banking by clicking on your Limited Access Saver. Withdrawals are listed by clicking on the "OUT" tab.
You can make as many withdrawals as you want from your account. However, your interest rate will drop if you make more than 2 withdrawals from this account within a calendar month. Your interest rate will return to the higher rate from the 1st of the following month.
A calendar month runs from the 1st of the month to the last day of the month. For example, 1 January to 31 January.
Withdrawals made on the last day of the month might not be completed until the following day. Withdrawals completed the following day would count towards the following month.
If the last day of the month is a Sunday, withdrawals completed on the Saturday or Sunday might not be completed until the Monday.
Withdrawals can be made at any time by transfer to another account. You can do this in Mobile or Online Banking, over the phone, or by visiting us in branch.
If it’s your first or second withdrawal in a calendar month, then your interest rate won’t change.
If it’s your third withdrawal, your interest rate will drop for that calendar month. The lower interest rate will apply for the whole calendar month, and it will return to the higher rate from the 1st of the following month.
Any withdrawals after your third won’t change your interest rate.
You can see a list of withdrawals in Mobile and Online Banking by clicking on your Limited Access Saver. Withdrawals are listed by clicking on the "OUT" tab.
Your interest rate is shown in Mobile and Online Banking. If you’ve made a recent withdrawal this may not be reflected in the interest rate shown.
If your interest rate has dropped to the lower rate, it will automatically return to the higher rate on the 1st of the following month. You don’t need to do anything.
This account also comes with
Telephone Banking
Online and Mobile Banking with text and email alerts
Access to the Santander branch network
