Changes to laws or banking regulations can affect your savings accounts and other banking services. We always alert you to any changes in your account's terms and conditions, and we also update this page regularly to clearly communicate any changes.

This page shows the latest changes to our savings accounts.

As you may be aware, the Bank of England base rate was recently reduced to 0.10%, which is the lowest base rate we've experienced. Given the challenging market environment in which we're currently operating, we've had to carefully review the rates of interest we pay on our savings accounts and want to let you know that we're making changes to our variable rate accounts.

Your account(s), alongside the current and new interest rate(s) are shown in the table below, including the date on which these rates will change for each account.

The table may also include information on the account(s) to which your existing savings will be maturing. 

Effective from 1 April 2020

 Rate shownInterest Rate before
1 April 2020
Effective from
1 April 2020
Good for Life ISAAER/Tax free (variable)0.75%0.10%
Rate for Life ISAAER/Tax free (variable)0.10% for £1+
1.00% for £1,000 +
0.01% for £1+
0.35% for £1,000 +

 Effective from 22 May 2020

 Rate shownInterest Rate before
22 May 2020

New Interest Rate
AER/tax-free (variable)

Easy ISAAER/Tax free (variable)0.20% for £1+ 
0.60% for £40,000+
 
0.01% for £1+ 
0.10% for £40,000+
ISA SaverAER/Tax free (variable)0.35% for £1+ 
0.65% for £10,000+
0.01% for £1+ 
0.10% for £10,000
1|2|3 Help to Buy ISA (Issue 1)*AER/Tax free (variable)4.25%2.75%
Help to Buy ISA (Issue 1)*AER/Tax free (variable)4.25%2.75%
1|2|3 Help to Buy ISA (Issue 2)*AER/Tax free (variable)2.75%1.50%
Help to Buy ISA (Issue 2)* AER/Tax free (variable)2.25%
 
1.00%
1|2|3 Help to Buy ISA (Issue 3)* AER/Tax free (variable)2.25%1.25%
Help to Buy ISA (Issue 3)* AER/Tax free (variable)1.75%0.75%
Cash ISA (Formerly TOISA)*AER/Tax free (variable)0.20% for £10+ 
0.60% for £9,000+
0.01% for £1+ 
0.10% for £9,000
1|2|3 Junior ISAAER/Tax free (variable)3.25%2.00%
Junior ISAAER/Tax free (variable)2.75%1.50%
Inheritance ISAAER/Tax free (variable)0.35% for £1+
0.65% for £10,000+
0.01% for £1+ 
0.10% for £10,000
123 eISA (Issue 7)*AER/Tax-free (variable)0.65%0.40%
eISA (Issue 7)*AER/Tax-free (variable)0.35%0.10%
123 eISA (Issue 8)*AER/Tax-free (variable)0.85%0.40%
eISA (Issue 8)*AER/Tax-free (variable)0.55%0.10%
Santander Shareholder Default Account*AER/Gross (variable)0.50%0.01%
Special Reserve Account *

AER/Gross (variable)

0.50%0.01%
Fast Access Account*AER/Gross (variable)0.50%0.10%

Effective from 7 July 2020 

 Rate shownInterest Rate before
7 July 2020
Interest rate from
7 July 2020
Charity and Treasurers Account*AER/Gross (variable)0.60%0.01%
Everyday SaverAER/Gross (variable)0.35% before 20 May
0.20% from 20 May
0.01%
Private Everyday SaverAER/Gross (variable)0.35% before 20 May
0.20% from 20 May
 
0.01%
1|2|3 eSaver (Issue 15)*AER/Gross (variable)0.50%0.10%
eSaver (Issue 15)* AER/Gross (variable)0.40%0.05%
First Home Saver*AER/Gross (variable)1.25%0.60%
Flexible Saver for Kids*AER/Gross (variable)0.75%0.10%
Instant Saver*AER/Gross (variable)0.10%0.01%
Bond Maturity AccountAER/Gross (variable)0.50%0.01%

 *off-sale products

In response to the current market conditions and a period of historically low interest rates, the interest rate on Everyday Saver will reduce from 0.35% gross/AER (variable) to 0.20% gross/AER (variable) on 20 May 2020.

All other features of the account will stay the same.

This change applies to you if you have an Everyday Saver or an account which is due to transfer to an Everyday Saver upon maturity. We’ll write to you separately to advise when this will happen. You can also check if your account is due to mature into an Everyday Saver in the Key Facts Document for your account.

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