Santander Edge saver (Issue 1)
What is the interest rate?
|Tier||Interest rate without bonus rate||Interest rate with 2.50% AER / 2.47% gross (variable) bonus rate for the first 12 months from opening|
|£1 - £4,000||4.50% AER /4.41% gross (variable)||7.00% AER /6.78% gross (variable)|
No interest paid
Interest is calculated daily and added to this account monthly. No interest is paid on balances above £4,000.
Can Santander change the interest rate?
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.
What would the estimated balance be after 12 and 24 months based on a £1,000 deposit?
|Account name||Balance||Interest earned||Balance after 12 and 24 months|
|7.00% AER / 6.78% gross (variable)||£1,000.00||£70.00|
(after 12 months)
|4.50% AER / 4.41% gross (variable)||£1,070.00||£48.15|
(after 24 months)
Estimates assume that the account is opened and deposit made on 1st of the month, interest is paid monthly and no change to interest rates.
These illustrations are only examples and don’t take into account individual circumstances.
How do I open and manage my account?
To open the account you must:
- be a UK resident, this account can only be held in a single name
- be aged 18 or over
- have a Santander Edge current account. You can have one Santander Edge saver for each Santander Edge current account you have. That means a maximum of 2 if you have both a single and a joint Santander Edge current account. If you have a joint Santander Edge current account, you can each have a Santander Edge saver in your own name
- signed up to Online or Mobile Banking
If you don’t already have Online or Mobile Banking, you’ll need to wait for your log on details to arrive before applying.
If you no longer own a Santander Edge current account, we reserve the right to change your account to an Everyday Saver. We’ll let you know around 60 days in advance before we make this change.
- Online and Mobile.
- Visit any Santander branch
You can open the account with a minimum of £1. Interest is paid on balances up to £4,000 only. Deposits can be made at any time via standing order, one-off payments or online transfers.
Manage the account
- Online and Mobile Banking
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.
Can I withdraw money?
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 Santander Edge saver is subject to availability and may be withdrawn from sale at any time without notice. Rates and Information correct as at 15 August 2023.