Fixed Term Saver comes with
How it works
You’re a UK resident aged 16 or over
You open the account with £500 or more
No additional deposits, withdrawals or account closures permitted.
Account details
Account name
Fixed Term Saver
What is the interest rate?
| Account name/term | Maturity date | If interest is paid annually | If interest is paid monthly |
|---|---|---|---|
| 1 Year Fixed Term Saver | 01/01/2026 | 3.60% AER / gross (fixed) | 3.60% AER / 3.54% gross (fixed) |
| 2 Year Fixed Term Saver | 01/01/2027 | 3.40% AER / gross (fixed) | 3.40% AER / 3.35% gross (fixed) |
| 3 Year Fixed Term Saver | 01/01/2028 | 3.40% AER / gross (fixed) | 3.40% AER / 3.35% gross (fixed) |
AER is based on funds deposited by 1 January 2025. If you pay money in before or after this date, you may earn more or less interest than this.
The above monthly interest rates are based on interest paid back into your Fixed Term Saver, as you’ll earn interest on your interest. If you choose for your interest to be paid to an account which is not your Fixed Term Saver, your money will earn the gross rate. This rate is lower than the AER.
Interest
We work out the interest we’ll pay on your account each day.
Interest can be paid monthly or yearly, and we can pay interest into your Fixed Term Saver or any other account with us or another bank. Once you’ve chosen, you can’t change your mind.
Interest will be paid on the 1st of the month after you’ve opened the account, then monthly or yearly after that (including when the term ends).
We’ll give you details of any interest paid in May each year.
Can Santander change the interest rate?
No, the interest rate is fixed during the term.
What would the estimated balance be after 1, 2 and 3 years based on a £1,000 deposit?
| Account name | Interest earned | Balance at the end of the term of the account |
|---|---|---|
| 1 Year Fixed Term Saver | £36.00 | £1,036.00 |
| 2 Year Fixed Term Saver | £69.16 | £1,069.16 |
| 3 Year Fixed Term Saver | £105.51 | £1,105.51 |
To work out the estimated balance, we’ve assumed that:
- The account is opened and the initial payment is made on the first day of the month.
- You don’t pay in any more money or take any out.
- We pay interest yearly back into the Fixed Term Saver.
This illustration is only an example and doesn’t take into account your individual circumstances.
How do I open and manage my account?
Eligibility
You can have this account if you’re 16 or over and live in the UK. This account can be opened in trust for someone else. If the beneficiary is a child under the age of 13, the trustee must have parental responsibility for the child.
You can have an account in your sole name or jointly with another person.
How to open the account
You can apply in branch, on our website, using Online and Mobile Banking, or over the phone.
Managing the account
You can manage the account in branch, on our website, using Online or Mobile Banking, or over the phone.
Paying money in
- Minimum balance: £500
- Maximum balance: £2 million
You need to pay money into your Fixed Term Saver within 14 days of opening it. You can split the money across as many payments as you like during this time.
You can pay money in from an existing account you hold with a bank or building society. To do this, use the sort code and account number for your Fixed Term Saver. These can be found in your opening confirmation letter or email.
If you need to send us a cheque, make it payable to yourself. You’ll also need to write your date of birth, sort code and account number on the back of it.
Send the cheque to us at:
Freepost RRTL-RXRL-JUEA
Santander Savings Operations,
Sunderland
SR43 4FQ
Can I withdraw money?
As it’s a fixed term, you can’t take money out during the term.
At the end of the term
You can choose what you want to do with the money in your Fixed Term Saver up to 28 days before the term ends. We’ll give you more info about your options closer to the time.
During this time, you can access your money through Online and Mobile Banking, in branch or over the phone. Interest is paid up until the day you choose to close your account, or withdraw money from it, during the 28 days before maturity.
If you don’t tell us what you want to do, we’ll transfer your money into an Everyday Saver with us.
Additional information
Tell us if you change your mind
You can’t cancel the Fixed Term Saver once it’s been opened. But, in exceptional circumstances (for example, if one of the account holders dies), we may allow you to close the account before the end of the term.
Tax status
We pay interest without taking off income tax. This is known as ‘gross’ and the interest rate we give you reflects this. If the total interest you receive in a tax year is more than any Personal Savings Allowance that applies to you, you may have to pay tax on it. You’ll need to do this directly with HMRC.
Subject to availability and may be withdrawn without notice. Rates and information correct as at 16 December 2024.
How we manage scam claims
We’ll support you if you’ve fallen victim to fraud. Find out more about our approach to fraud.
Everything you need to know before you apply
We recommend reading the information in the documents below before you apply. You may like to save or print them so you can refer to them in the future.
To view these documents, you may need to download Adobe Reader
I have a Fixed Rate Bond, what happens next?
We’ve replaced our Fixed Rate Bond with our new Fixed Term Saver. Our Fixed Term Saver offers you greater flexibility when paying money into your account. We can accept payments made using Online or Mobile Banking, and payments to or from alternative banks (when the account allows).
If you have a Fixed Rate Bond, your account will stay the same until the end of its term. We’ll write to you 14 days before it matures to tell you about your options.
To transfer all or part of the money in your Fixed Rate Bond to a Fixed Term Saver, you’ll need to apply for a Fixed Term Saver online. You must apply within 28 days of your Fixed Term Bond maturing.
Once your Fixed Term Saver is open, give us a call or visit your local branch. We can then arrange for the money in your Fixed Rate Bond to be transferred to your new Fixed Term Saver when your Fixed Rate Bond matures.
This account also comes with
Telephone Banking
Online and Mobile Banking
with text and emails alerts
Access to the Santander branch network
Not sure which savings account is right for you? View all savings and ISAs