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.

The Bank of England Base rate increased from 1.00% to 1.25% on 16 June. Following this, on 4 July we’re increasing the interest rate on savings accounts linked to the base rate in line with the increase.

Our wider range of variable rate banking and savings products are not linked to the base rate. If we make any changes, we’ll tell you about them in line with your terms and conditions.

Your accounts, alongside the current and new interest rates, are shown in the table below.

Account NameRate shownInterest rate before 4 JulyEffective from 4 July
Good for Life ISAAER/tax free (variable)1.00%1.25%
Rate for LifeAER/gross (variable)0.01% for £1+
1.25% for £1,000+
0.01% for £1+
1.50% for £1,000+
Abbey National Retirement Investment Account (ANRIA)AER/gross (variable)1.00%1.25%

The Bank of England Base rate increased from 0.75% to 1.00% on 5 May. Following this, on 1 June we’re increasing the interest rate on savings accounts linked to the base rate in line with the increase.

Our wider range of variable rate banking and savings products are not linked to the base rate. If we make any changes, we’ll tell you about them in line with your terms and conditions.

Your accounts, alongside the current and new interest rates, are shown in the table below.

Account nameRate shownInterest rate before 1 JuneEffective from 1 June
Good for Life ISAAER/tax free (variable)0.75%1.00%
Rate for LifeAER/gross (variable)0.01% for £1+
1.00% for £1,000+
0.01% for £1+
1.25% for £1,000+
Abbey National Retirement Investment Account (ANRIA)AER/gross (variable)0.75%1.00%

 

We increased the interest rate on our eISA (Issue 13), see details below.

Customers who opened an eISA (Issue 13) before 28 March 2022 will receive the new interest rate from the 28 March 2022

Account nameRate shownInterest rate before 28 MarchEffective from 28 March
eISA (Issue 13)AER/tax free (variable)0.50%0.70%
eISA (Issue 13) for 1|2|3 or Santander Select customersAER/tax free (variable)0.60%0.80% 

 

The Bank of England Base rate increased from 0.50% to 0.75% on 17 March. Following this, on 6th April we increased the interest rate on savings accounts linked to the base rate.

Accounts linked to the base rate:

Account nameRate shownInterest rate before 6 AprilEffective from 6 April
Good for Life ISAAER/tax free (variable)0.50%0.75%
Rate for LifeAER/gross (variable)0.01% for £1+
0.75% for £1,000+
0.01% for £1+
1.00% for £1,000+
Abbey National Retirement Investment Account (ANRIA)AER/gross (variable)0.25%0.75%

Changes to our wider savings accounts:

We also increased rates on a number of our products that aren’t linked to the base rate on 6 April. Details of your new rates are below. 

Account nameRate shownInterest rate before 6 AprilEffective from 6 April
Everyday SaverAER/gross (variable)0.01%0.10%
Private Everyday SaverAER/gross (variable)0.01%0.10%
Instant SaverAER/gross (variable)0.01%0.10%
Special Reserve AccountAER/gross (variable)0.01%0.10%
Charity Investment AccountAER/gross (variable)0.01%0.10%
Flexible Saver for KidsAER/gross (variable)0.10%0.35%
First Home SaverAER/gross (variable)0.60%0.75%
ISA SaverAER/tax free (variable)0.01%0.10%
Easy ISAAER/tax free (variable)0.01%0.10%
Inheritance ISAAER/tax free (variable)0.01%0.10%
TOISAAER/tax free (variable)0.01% for £10+
0.10% for £9,000+
0.10%

As you may be aware, the Bank of England base rate was recently increased by 0.25% to 0.50%. Following this, we've increased all interest rates on savings accounts linked to the base rate, as well as our Junior ISA, in line with the increase. 

Your account(s), alongside the current and new interest rate(s), are shown in the table below. 

AccountRate shownInterest Rate before 2 March 2022Effective from 2 March 2022
Good for Life ISAAER/Tax free (variable)0.25%0.50%
Rate for Life

AER/Gross (variable)

 

0.01% for £1+

0.50% for £1,000+

0.01% for £1+

0.75% for £1,000+

Junior ISAAER/Tax free (variable)0.75%1.00%

As you may be aware, the Bank of England base rate was recently increased by 0.15% to 0.25%. Following this, we’ve increased all interest rates on savings accounts linked to the base rate in line with the increase.

Your account(s), alongside the current and new interest rate(s), are shown in the table below.

AccountRate shownInterest Rate before 12 January 2022Effective from 12 January 2022
Good for Life ISAAER/Tax free (variable)0.10%0.25%
Rate for Life

AER/Gross (variable)

 

0.01% for £1+

0.35% for £1,000+

0.01% for £1+

0.50% for £1,000+


 

From 29 March 2022, we’ll no longer be supporting Santander passbooks in our branches. This means you won’t be able to use your passbook with your savings account from this date.

What is replacing your passbook?

If you want to keep banking in our branches, from today you can ask in branch for a cash card which you can use at our counters or cash machines. If you don’t want cash machine access, we can turn it off for you. You can also ask for a wallet in any of our branches. You can then use it to store your mini statements so that you can keep track of your balance and recent transactions.

If you prefer to keep using your account from home, you can use Online and Mobile Banking. You can be confident your money is secure when using your account online as we use the highest standards of security in our technology and how we guard your identity. If you don’t have Online Banking, you can sign up here. 

Why are we stopping passbook use?

If you’ve used your passbook recently, you’ll have noticed that it can be very slow to carry out transactions and update your passbook. These alternative options should remove this type of problem. 

We also want to make sure that you can get to your money at any time, these options give you more ways to do this in a way that’s convenient for you. 

Don’t worry, your account number won’t change and if you never use your passbook there’s nothing you need to do.

 

To continue using your account in branch

Just speak to us the next time you’re in branch and we can offer you a cash card or a wallet for storing your paperwork.

 

To use your account from home

If you don’t use Online Banking already you can sign up today.

 

Joint savings accounts

If you have a joint account where both account holders have to authorise transactions, from 29 March 2022 this will change. Either account holder will be able to make transactions without needing the signature of the other.

 

Accounts in trust

If you hold an account in trust, we won’t be able to give you a cash card. You’ll still be able to use your account in any of our branches though. Just bring along your account number and some identification such as your driver’s licence. See a full list of the ID we can accept

 

If you don't have a passbook account

We have to let every customer with a banking or savings account with us know about this change as it’s a change to the General Terms and Conditions. So, if you’ve had a letter about it but don’t have a passbook account there’s nothing you need to do.

 

How does Online Banking compare to the cash card?

 

Accessing cashManaging your account
Online and Mobile BankingTransfer to an alternative account online
  • Print full statements (Online Banking only)

 

  • Make transfers between accounts online (Online Banking and mobile banking app)

 

  • Make payments from your account online (Online Banking and mobile banking app)
Cash cardWithdraw cash at a cash machine, in branch or at a post office
  • Print mini-statements at a cash machine

 

  • Print mini-statements and make transfers and payments in branch

 You can see all of this information in 'Changes to savings accounts with passbooks' (133 KB)

We’re simplifying the historic business savings products mentioned above on 1 September 2021.

Why is this happening?

Because these historic products share similar features. We’d like to simplify the range and move them all to the Treasurer’s Savings Account (Annual Interest). However, there are no changes to how often interest is paid.

What the changes mean for you

If you’re impacted by this change you’ll receive a notification before 1 July 2021. Many of these accounts haven’t been used in some time. If you haven’t made a transaction in over 3 years, all the authorised signatories on the account will need to contact us to update their details before using the account again. 

The name and interest rate for the new product is shown in the table below and we’ve explained how the key changes impact you. Your account number and sort code will stay the same.

Existing account namesNew account nameExisting interest rateNew interest rateYour interest frequency
  • Charity Investment Account
  • Treasurer's Instant Saver
  • Treasurer's Savings Account
Treasurer's Savings Account (Annual Interest)0.01% AER/Gross (variable)0.01% AER/Gross (variable)Annual on the anniversary of your account opening

The following 2 key changes will be made to your account on 1 September 2021.

1. You’ll no longer need a minimum of 2 authorised signatories to access your funds

  • This means any one of the signatories on your account can approve any transaction and therefore gives you greater flexibility in managing your account.
  • This also allows any one signatory to manage your account through Mobile, Online and Telephone Banking to make transactions without the need to visit a branch.
  • We offer a Business Operator Card which allows authorised signatories to deposit cash, print mini statements or complete balance enquiries but doesn’t allow cash withdrawals. 
  • You can request to set up free text and email alerts to let you stay up to date with what’s happening with your accounts by calling us or visiting your local branch.

2. We will allow you access to cash cards

  • This means any one signatory can manage your account with a cash card through cash machines or at your nearest Post Office.
  • This will also allow you to make cash withdrawals or deposits and print mini statements or complete balance enquiries at the Post Office or Santander cash machines.

You don’t need to do anything as this change will happen automatically on 1 September 2021 and you’ll still be able to access your account in a way that works for you. From 1 September 2021, if you would like to order a cash card, Business Operator card or register for Online Banking, please call us on 0800 731 6666. 

We’ve made some changes to your Data Protection Statement to include more information about how we use automated decision making to make decisions about you. We’ve also made changes to tell you how we share and sell anonymised data in the Santander group of companies and outside it, for statistical analysis, research and other business purposes. This data can’t be used to identify you. 

These changes apply to all personal data we hold for you in relation to any product or account you have with us. There are no changes to how you use your account.

We may have already contacted you to tell you about these changes. They won’t come into effect until you receive that notification. 

For more details on how we use your information, please read the full statement (68 KB)

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