Easy Access Saver (Issue 25)
What is the interest rate?
AER/Gross (variable) for 12 months from account opening
|If interest is paid annually||If interest is paid monthly|
|1.70% AER / gross (variable)||1.70% AER / 1.69% gross (variable)|
- We work out the interest we’ll pay on your account each day.
- You can choose whether you want us to pay interest monthly or yearly into your account. Once you’ve chosen, you can’t change your mind.
We’ll pay the interest on the monthly or yearly anniversary of the day you opened the account.
Can Santander change the interest rate?
Yes, we can change the interest rate on this account as explained in the general terms.
What would the estimated balance be after 12 months based on a £1,000 deposit?
|Account name||Interest earned||Balance after 12 months|
|Easy Access Saver||£17.00||£1,017.00|
To work out the estimated balance, we’ve assumed that:
- The account is opened and the initial payment into the account is made on the first day of the month.
- You don’t pay in any more money or take any out.
- We pay interest yearly 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?
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. If you want to make cash withdrawals by card, you can link your account to any Santander cash card you already have.
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.
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.
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.
We’ll send you a statement once a year in April in Online and Mobile Banking.
Subject to availability and may be withdrawn without notice. Rates and information correct as at 4 December 2023.