Santander has increased savings rates across the board and all individual current account customers can now open their regular eSaver by paying 2.5% AER/gross.
The banking giant announced that from today all individual current account customers will be eligible to open their regular eServer account and pay 2.5% AER/gross for 12 months – up to £32.26 in interest.
This allows savers to pay up to £200 a month, with a maximum annual balance of £2,400.
Previously it was only available for 1|2|3, Select and private current account holders, but now people with everyday and basic current accounts can also open regular savers. This does not apply to 1|2|3 Mini In Trust customer accounts.
Santander said the move would benefit 5.4million UK customers. This comes after last month the interest rate on its 1|2|3, select and personal current accounts went from 0.5% AER/gross (floating) to 0.75% AER/gross (floating) for balances up to £20,000 was raised. ,
And as of today, it has also hiked interest rates across the board:
1I2I3 savings accounts:
- 1-year fixed rate bonds up 0.7% 1.5% AER/gross
- 2-year fixed rate bonds up 0.9% 2% AER/gross
- 3-year fixed rate bonds up 1% 2.5% AER/gross.
Non-1I2I3 Savings Accounts:
- 1-year fixed rate bonds up 0.6% 1.4% AER/gross
- 2-year fixed rate bonds up 0.8% 1.9% AER/gross
- 3-year fixed rate bonds up 0.9% 2.4% AER/gross
Fixed Rate ISA Accounts:
- Two-year fixed income ISA to rise 1.3% 2% AER/Tax Free for two years for savings of £500 and over
easily accessible accounts
- eSaver will increase by 0.25% 0.75% AER/gross (variable)
- Personal eSaver will rise to 0.4% 0.9% AER/gross (variable)
Hetal Parmar, Head of Banking and Savings at Santander UK, said: “For many people it is important to save for their financial well-being, be it for a rainy day, a home renovation or anything else. Santander has a range of savings accounts which are now complemented by some of the High Street Bank’s best rates to help millions of customers with their savings goals.
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