eSaver (Issue 17)
AER/Gross (variable) for the first 12 months from account opening
|Tier||eSaver - If interest is paid annually||eSaver for 1|2|3 World or Santander Select customers - If interest is paid annually||eSaver - If interest is paid monthly||eSaver for 1|2|3 World or Santander Select customers - If interest is paid monthly|
Interest is calculated daily and added to this account annually or monthly. Once the frequency has been chosen (annual or monthly interest), this can’t be changed.
Yes, the rate can go up or down e.g. in response to industry and market conditions. If the rate goes down, we’ll let you know around 2 months before the rate changes.
|Account name||Interest earned||Balance after 12 months|
|eSaver for 1|2|3 World or Santander Select customers||£1.00||£1,001.00|
Estimates assume that the account is opened and deposit made on 1st of the month, interest is paid annually and no change to interest rates.
At the end of term
The term of the account is 12 months. On maturity we’ll transfer your account to an Everyday Saver, currently paying 0.35% AER/Gross (variable) for balances of £1+. From 20 May 2020, the Everyday Saver account will pay 0.20% AER/Gross (variable) for balances of £1+. We’ll notify you before we do this and tell you your options.
Estimated balance of Everyday Saver after 12 months
|Maturing account balance transferring to Everyday Saver||Interest earned||Everyday Saver balance after 12 months|
|eSaver - £1,000.50||£3.50||£1,004.00|
|eSaver for 1|2|3 World or Santander Select customers - £1,001.00||£3.50||£1,004.50|
Estimates assume no further deposits or withdrawals made and no change to interest rates.
These illustrations are only examples and don’t take into account individual circumstances.
To open the account you must be:
- a UK resident, this account can be held in single or joint names;
- aged 16 or over; and
- signed up or are going to sign up for Online or Mobile Banking.
To be eligible for the higher interest rate you must be a 1|2|3 World or a Santander Select customer at point of opening. For joint accounts, at least one person must be either a 1|2|3 World or a Santander Select customer.
- Online and Mobile.
- Visit any Santander branch.
Minimum opening and account balance of £1, maximum of £2 million. Deposits can be made at any time via standing order, one-off payments or online transfers.
Manage the account
- Online and Mobile Banking.
- Link account to an existing Santander cash card.
Statements are issued annually in April in Online Banking only. We provide you with information about transactions on your account by posting them to Online Banking for you to view at any time.
Yes, withdrawals can be made at any time by transfer to another account in Online and Mobile Banking.
You can cancel the account within 14 days of opening and your money will be returned in full with interest.
The eSaver is subject to availability and may be withdrawn from sale at any time without notice. Rates and information correct as at 4 May 2020.