Santander UK has announced it will be launching a new 123 Regular e-Saver on Wednesday (6 April 2022) offering customers a fixed rate of 2.5% interest AER/Gross for 12 months1, one of the best regular savings rates from a High Street bank.
The Regular e-Saver, which can be opened online or on mobile, is available to existing 123, Private and Select current account customers aged 16 and over2. Customers can pay in up to £200 per month3, up to a maximum annual balance of £2,4004.
Customers who already have a Regular e-Saver5 will automatically receive the new 2.5% rate on any new savings deposited after their account matures at the end of their current 12-month period6.
Hetal Parmar, Head of Banking and Savings at Santander UK, said: “We understand saving for the future remains important to many customers, and following the recent increase to the interest rate on our 123 Current Account, we’re pleased to offer 123 World customers even more value with our new Regular e-Saver”.
In addition, Santander UK will tomorrow (6 April 2022) be launching a new e-saver paying 0.25% interest. The e-saver is available to all UK residents aged 16 and over and can be opened online or mobile with as little as £17.
Customers can find out more about Santander’s range of savings account, including its recently launched ISA products online.
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Notes to Editors
1) Regular e-Saver, issue 14, 2.5% AER/Gross for 12 months.
2) Funds must be paid into the account via standing order from an existing Santander 123, Select or Private current account. For more details on eligibility for a Regular e-Saver please visit: Regular eSaver | Fixed Rate For 12 Months | Santander UK
3) Any money paid in and later withdrawn will count towards the £200 monthly limit.
4) At the end of the 12-month term, the balance, including interest earned will paid back into the Santander current account from which the standing order was paid. If no standing order is in place when the Regular eSaver matures, the final balance including interest earned will be transferred to an Everyday Saver account.
5) Regular e-Saver, issue 13, 0.5% AER/Gross for 12 months.
6) Regular e-Savers automatically roll-over after 12 months to the rate available at the time, which will be 2.5% from 6 April but is variable and subject to change.
7) Up to a maximum balance of £2 million.
123 World includes 123, 123 Lite, 123 Student, 123 Mini, Select and Private current accounts.
Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. At 31 December 2021, the bank had around 19,200 employees and serves around 14 million active customers, via a nationwide branch network, telephone, mobile and online banking. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers’ eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) in the UK.
Banco Santander (SAN SM, STD US, BNC LN) is a leading retail and commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful presence in 10 core markets in the Europe, North America and South America regions, and is one of the largest banks in the world by market capitalization. Its purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising over €120 billion in green financing between 2019 and 2025, as well as financially empowering more than 10 million people over the same period. At the end of 2021, Banco Santander had €1.15 trillion in total funds, 153 million customers, of which 25.4 million are loyal and 47.4 million are digital, 9,900 branches and 197,000 employees.