Home / Business and Economy / Santander's New Saver: 8% Interest on £200/Month
Santander's New Saver: 8% Interest on £200/Month
23 Jun
Summary
- New regular saver account offers 8% AER interest rate.
- Customers can save up to £200 monthly in the new account.
- The 8% rate includes a 5% variable bonus for the first year.
Santander UK has launched a new regular saver account offering an impressive 8.00% AER interest rate. This rate comprises a 5.00% variable bonus for the first 12 months, significantly boosting savings potential for customers who deposit up to £200 per month.
The new account is accessible to all Santander current account holders, including those with the fee-free Everyday current account. Savers can make withdrawals as needed without incurring penalties, offering flexibility. Following the initial 12-month period, the interest rate will decrease to a variable 3.00%.
For individuals with larger lump sums exceeding £200, alternative savings accounts that permit bigger initial deposits may be more suitable, even if they offer lower rates. New customers may also explore Santander's £180 current account switching offer, subject to specific terms and conditions.
