From 12 April 2021, Santander will be reducing the in-credit interest rate for its 1I2I3, Select and Private Current Accounts, from 0.6% to 0.3% on balances up to £20,000, giving customers up to £60 in interest per year on their in-credit balance. Santander will also be lowering the fee on its 1I2I3, Select and Private Current Accounts from £5 to £4 per month.