When a change happens in banking regulations, it can have an impact on your savings accounts and other banking services. We always let you know about any changes in your account's terms and conditions, and we also update this page regularly so that you’re always updated about any changes.
New consumer protections for APP scams
On 7 October 2024, new rules were introduced to protect consumers from Authorised Push Payment (APP) scams.
We’ve updated our terms to explain when you might be entitled to a refund if the payment you sent was part of an APP scam. We've also explained the steps you, and we, will need to take to report and investigate any APP scam payments before we give a refund.
Changes to ISA terms
We’ve made some changes to Section F of our terms. These changes reflect the new ISA rules introduced by the government on 6 April 2024, as well as clarifying that we might place restrictions on transfers.
We’ve amended our terms to reflect that regulation allows you to pay into more than 1 cash ISA each tax year. The government has the power to change the number and types of ISAs you can pay into each tax year.
We've also explained that we might not allow all transfer requests.
The Bank of England Base rate decreased from 5.00% to 4.75% on 7 November 2024. Because of this, on 3 December, we decreased the interest rate on savings accounts linked to the base rate.
Accounts Linked to the Base Rate:
| Account name | Rate shown | Interest rate before 3 December | Effective from 3 December |
|---|---|---|---|
| Good for Life ISA | AER/tax free (variable) | 5.00% | 4.75% |
| Rate for Life | AER/gross (variable) | 1.20% for £1+ 5.25% for £1,000+ | 1.20% for £1+ 5.00% for £1,000+ |
From 1 November 2024, we’re planning to convert some of our off-sale ISAs to the accounts below. These changes only apply to some accounts. If they apply to your account, we’ll contact you using your preferred communication method. We’ll also give you a Key Facts Document that includes more information about the account you’re moving to. We will contact you by the end of August if these changes apply to your account.
The main change is to the product name. This means the interest rate will stay the same and you can continue to use your account as normal.
Moving to ISA Saver
| Existing account | New account | Changes |
|---|---|---|
| Easy ISA | ISA Saver | Product name only |
Your options
If you want to carry on using your account after it’s changed, you don’t need to do anything. However, you do have a couple of other options.
- You can close your account for free at any time.
- You could consider one of our other savings accounts
If you’d like more information, have any questions about these changes or you want to close your account, please get in touch
If your Easy ISA is changing to an ISA Saver
We’ll pay you any interest built up since your last interest payment at your existing rate when your account changes. You’ll see this in your statement after your account has changed.
When your account changes, the ISA status of your money will stay the same.
If any money is removed from your ISA it will lose its tax-free status. If the money is paid back into an ISA, this will count towards your current tax years ISA allowance. If you want to transfer your ISA to another ISA provider, you can do this by contacting the new ISA provider. They will then arrange the transfer on your behalf.
If you haven’t paid into your cash ISA for a full tax year, you might need to complete a new cash ISA application before more money can be paid in.
The Bank of England Base rate decreased from 5.25% to 5.00% on 1 August 2024. Because of this, on 15 August, we decreased the interest rate on savings accounts linked to the base rate.
Accounts Linked to the Base Rate:
| Account name | Rate shown | Interest rate before 15 August | Effective from 15 August |
| Good for Life ISA | AER/tax free (variable) | 5.25% | 5.00% |
| Rate for Life | AER/gross (variable) | 1.20% for £1+ 5.50% for £1,000+ | 1.20% for £1+ 5.25% for £1,000+ |
From 1 October 2024, we’re planning to convert some of our off-sale ISA and savings accounts to the accounts below. These changes only apply to some accounts. If they apply to your account, we’ll contact you using your preferred communication method. We’ll also give you a Key Facts Document that includes more information about the account you’re moving to. We’ll contact you by the end of July if these changes apply to your account.
The main change is to the product name. This means the interest rate will stay the same and you can continue to use your account as normal.
Moving to an ISA Save
| Existing account | New account | Changes |
| Cash ISA (former TOISA) | ISA Saver | Product name only |
| Easy ISA | ISA Saver | Product name only |
Moving to an ISA Saver (Issue 2)
| Existing account | New account | Changes |
| ISA Saver | ISA Saver (Issue 2) | Product name only |
Moving to an Everyday Saver (Issue 3)
| Existing account | New account | Changes |
| Instant Saver (NORA) | Everyday Saver (Issue 3) | Product name only |
| Instant Saver which pays interest annually | Everyday Saver (Issue 3) | Product name only |
| Instant Saver which pays interest monthly | Everyday Saver (Issue 3) | Product name only |
| Instant Saver which pays interest quarterly | Everyday Saver (Issue 3) | Product name Interest payment frequency from quarterly to monthly |
Your options
If you want to carry on using your account after it’s changed, you don’t need to do anything. However, you do have a couple of other options.
- You can close your account for free at any time.
- You could consider one of our other savings accounts.
If you’d like more information, have any questions about these changes or you want to close your account, please get in touch.
If your ISA Saver is changing to an ISA Saver (Issue 2)
We’ll pay you any interest built up since your last interest payment (at your existing rate when your account changes). You’ll see this in your statement after your account has changed.
When your account changes, the ISA status of your money will stay the same.
If any money is removed from your ISA, it will lose its tax-free status. If the money is paid back into an ISA, this will count towards your current tax year ISA allowance. If you want to transfer your ISA to another provider, you can do this by contacting the new provider. They will then arrange the transfer on your behalf.
If you haven’t paid into your cash ISA for a full tax year, you might need to complete a new cash ISA application before more money can be paid in.
If your Instant Saver is moving to an Everyday Saver (Issue 3)
We’ll pay you any interest built up since your last interest payment (at your existing rate when your account changes). You’ll see this in your statement after your account has changed.
Each tax year, you’ll get a Personal Savings Allowance. This is the amount of interest that can be received tax-free. If the interest you receive is more than the allowance, you might have to pay tax.
If you have any questions about paying tax, you’ll need to contact HM Revenue & Customs. For more information, visit gov.uk and search for ‘Personal Savings Allowance’.
The interest rate on Easy Access Saver Limited Edition (Issue 3) reduced on 20 May 2024. Here are the details.
| Interest Paid | Before 20 May 2024 | From 20 May 2024 |
|---|---|---|
| Annually | 5.20% AER/gross (variable) on balances up to £250,000 | 4.20% AER/gross (variable) on balances up to £250,000 |
| Monthly | 5.20% AER / 5.08% gross (variable) on balances up to £250,000 | 4.20% AER / 4.12% gross (variable) on balances up to £250,000 |
After 6 April 2024, you won't be able to open a new adult cash ISA with Santander if you're 16 or 17. You'll be able to open one when you turn 18. You can open a Junior ISA if you’d like one.
Changes for existing ISA customers aged 16 or 17
If you opened your cash ISA before 6 April 2024, there aren’t many changes.
- You can keep paying into your cash ISA after 6 April 2024.
- You can pay into one cash ISA per tax year.
- You can transfer any other existing cash ISAs you hold with us or another provider, to an existing cash ISA with us. Any money paid in, in the current tax year must be transferred in full.
- You can upgrade your ISA at the end of the term.
You may find that some documents you need to fill in to upgrade or pay into your ISA will say you need to be 18+. That doesn't apply to you, because you already have one. But if you're ever unsure, just get in touch and we'll confirm it for you.
At Santander, we’ve made some changes from 6 April 2024.
- We’ve updated our ISA declarations to reflect the changes from HMRC. You might be asked to sign one of these when you open your account or if you haven’t paid into your ISA for a full tax year.
- We’re no longer allowing 16- and 17-year-olds to open cash ISAs with us. You'll be able to open one when you turn 18. You can open a Junior ISA if you’d like one.
We’ve not made any other changes at this time. This means you can still only pay into one cash ISA with us. You’ll also need to complete a new declaration where you haven’t paid in to your cash ISA for a full tax year. If you choose to transfer your ISA elsewhere, you must transfer any money you have paid into it in the current tax year, in full.
Other providers may offer changes under the new rules. These could include:
- Allowing partial transfers of current tax year subscriptions.
- Letting you pay into more than one ISA of the same type within the same tax year.
The interest rate on Easy Access Saver Limited Edition (Issue 3):
| Tier | If interest is paid annually | If interest is paid monthly |
|---|---|---|
| £1 to £250,000 | 5.20% AER / gross (variable) | 5.20% AER / 5.08% gross (variable) |
| Account name | Rate shown | Interest rate before 18 September | Interest rate from 18 September |
|---|---|---|---|
| Everyday Saver | AER/gross (variable) | 1.05% AER/gross (variable) | 1.20% AER/gross (variable) |
| Everyday Saver (Issue 2) | AER/gross (variable) | 1.05% AER/gross (variable) | 1.20% AER/gross (variable) |
| Private Everyday Saver | AER/gross (variable) | 1.05% AER/gross (variable) | 1.20% AER/gross (variable) |
| Private Everyday Saver (Issue 2) | AER/gross (variable) | 1.05% AER/gross (variable) | 1.20% AER/gross (variable) |
| Instant Saver | AER/gross (variable) | 1.05% AER/gross (variable) | 1.20% AER/gross (variable) |
| Special Reserve Account | AER/gross (variable) | 1.05% AER/gross (variable) | 1.20% AER/gross (variable) |
| Easy Access Saver (Issue 19) | AER/gross (variable) | 1.05% AER/gross (variable) | 1.20% AER/gross (variable) |
| Easy Access Saver (Issue 20) | AER/gross (variable) | 1.05% AER/gross (variable) | 1.20% AER/gross (variable) |
| Private Banking Easy Access Saver (Issue 9) | AER/gross (variable) | 1.05% AER/gross (variable) | 1.20% AER/gross (variable) |
| Easy Access ISA (Issue 13) | AER/tax free (variable) | 1.05% AER/tax-free (variable) | 1.20% AER/tax-free (variable) |
| ISA Saver | AER/tax free (variable) | 1.05% AER/tax-free (variable) | 1.20% AER/tax-free (variable) |
| ISA Saver (Issue 2) | AER/tax free (variable) | 1.05% AER/tax-free (variable) | 1.20% AER/tax-free (variable) |
| Easy ISA | AER/tax free (variable) | 1.05% AER/tax-free (variable) | 1.20% AER/tax-free (variable) |
| TOISA | AER/tax free (variable) | 1.05% AER/tax-free (variable) | 1.20% AER/tax-free (variable) |
We’ve increased rates on Inheritance ISA from 25 August 2023. Here are the details.
| Account Name | Rate shown | Interest rate before 25 August | Effective from 25 August |
|---|---|---|---|
| Inheritance ISA | AER/tax free (variable) | 1.05% AER/tax-free (variable) | 3.20% AER/tax-free (variable) |
The Bank of England Base rate increased from 5.00% to 5.25% on 3 August 2023. So because of this, on 15 August we’re increasing the interest rate on savings accounts linked to the base rate.
Accounts linked to the base rate:
| Account name | Rate shown | Interest rate before 15 August | Effective from 15 August |
|---|---|---|---|
| Good for Life ISA | AER/tax free (variable) | 5.00% | 5.25% |
| Rate for Life | AER/gross (variable) | 1.00% for £1+ 5.25% for £1,000+ | 1.00% for £1+ 5.50% for £1,000+ |
We’ve also increased rates on some of our products that aren’t linked to the base rate on 15 August 2023. You can find details of your new rates below.
| Account name | Rate shown | Interest rate before 15 August | Effective from 15 August |
|---|---|---|---|
| First Home Saver | AER/gross (variable) | 2.70%/2.67% AER/gross (variable) | 2.85%/2.81% AER/gross (variable) |
| Help to Buy ISA | AER/gross (variable) | 2.70% AER/tax free (variable) | 2.85% AER/tax free (variable) |
| Flexible Saver for Kids | AER/gross (variable) | 2.30%/2.28% AER/gross (variable) | 2.45%/2.42% AER/gross (variable) |
| Junior ISA | AER/tax free (variable) | 3.05% AER/tax free (variable) | 3.20% AER/tax free (variable) |
| Edge saver | AER/gross (variable) | 4.00% AER/3.93% gross for £1+ (includes a 0.50% AER (variable) bonus rate for the first 12 months from opening) 0.00% for £4k+ | 7.00% AER/6.78% gross for £1+ (includes a 2.50% AER / 2.47% gross (variable) bonus rate for the first 12 months from opening) 0.00% for £4k+ |
| Everyday Saver | AER/gross (variable) | 1.00% AER/gross (variable) | 1.05%/1.04% AER/gross (variable) |
| Private Everyday Saver | AER/gross (variable) | 1.00% AER/gross (variable) | 1.05%/1.04% AER/gross (variable) |
| Instant Saver | AER/gross (variable) | 1.00% AER/gross (variable) | 1.05%/1.04% AER/gross (variable) |
| Special Reserve Account | AER/gross (variable) | 1.00% AER/gross (variable) | 1.05%/1.04% AER/gross (variable) |
| Easy Access Saver (Issue 19) | AER/gross (variable) | 1.00% AER/gross (variable) | 1.05%/1.04% AER/gross (variable) |
| Easy Access Saver (Issue 20) | AER/gross (variable) | 1.00% AER/gross (variable) | 1.05%/1.04% AER/gross (variable) |
| Private Banking Easy Access Saver (Issue 8) | AER/gross (variable) | 1.00% AER/gross (variable) | 1.05%/1.04% AER/gross (variable) |
| Private Banking Easy Access Saver (Issue 9) | AER/gross (variable) | 1.00% AER/gross (variable) | 1.05%/1.04% AER/gross (variable) |
| Easy Access ISA (Issue 13) | AER/tax free (variable) | 1.00% AER/tax-free (variable) | 1.05 AER/tax-free (variable) |
| ISA Saver | AER/tax free (variable) | 1.00% AER/tax-free (variable) | 1.05 AER/tax-free (variable) |
| Easy ISA | AER/tax free (variable) | 1.00% AER/tax-free (variable) | 1.05 AER/tax-free (variable) |
| Inheritance ISA | AER/tax free (variable) | 1.00% AER/tax-free (variable) | 1.05 AER/tax-free (variable) |
| TOISA | AER/tax free (variable) | 1.00% AER/tax-free (variable) | 1.05 AER/tax-free (variable) |
The Bank of England Base rate increased from 4.50% to 5.00% on 22 June 2023. So because of this, on 3 July we’re increasing the interest rate on savings accounts linked to the base rate.
Accounts linked to the base rate:
| Account name | Rate shown | Interest rate before 3 July | Effective from 3 July |
|---|---|---|---|
| Good for Life ISA | AER/tax free (variable) | 4.50% | 5.00% |
| Rate for Life | AER/gross (variable) | 0.85% for £1+ 4.75% for £1,000+ | 1.00% for £1+ (from 17 July) 5.25% for £1,000+ |
We’ve also increased rates on some of our products that aren’t linked to the base rate on 3 July and 17 July 2023. You can find details of your new rates below.
| Account name | Rate shown | Interest rate before 3 July | Effective from 3 July |
|---|---|---|---|
| Abbey National Retirement Investment Account (ANRIA) | AER/gross (variable) | 4.25% | 4.75% |
| First Home Saver | AER/gross (variable) | 2.45% | 2.70% |
| Help to Buy ISA | AER/tax free (variable) | 2.45% | 2.70% |
| Flexible Saver for Kids | AER/gross (variable) | 2.05% | 2.30% |
| Junior ISA | AER/tax free (variable) | 2.80% | 3.05% |
| Account name | Rate shown | Interest rate before 17 July | Effective from 17 July |
|---|---|---|---|
| Everyday Saver | AER/gross (variable) | 0.85% | 1.00% |
| Private Everyday Saver | AER/gross (variable) | 0.85% | 1.00% |
| Instant Saver | AER/gross (variable) | 0.85% | 1.00% |
| Special Reserve Account | AER/gross (variable) | 0.85% | 1.00% |
| eSaver (Issue 19) | AER/gross (variable) | 0.85% | 1.00% |
| eSaver (Issue 20) | AER/gross (variable) | 0.85% | 1.00% |
| Private eSaver (Issue 8) | AER/gross (variable) | 0.85% | 1.00% |
| eISA (Issue 13) | AER/tax free (variable) | 0.85% | 1.00% |
| ISA Saver | AER/tax free (variable) | 0.85% | 1.00% |
| Easy ISA | AER/tax free (variable) | 0.85% | 1.00% |
| Inheritance ISA | AER/tax free (variable) | 0.85% | 1.00% |
| TOISA | AER/tax free (variable) | 0.85% | 1.00% |
From 31 July 2023, we’re making changes to our terms.
- We’re making these changes so that our terms comply with law and regulation.
- We’re making the terms clearer and simpler to read.
- We’re moving parts of the content around to make it easier for you to find what you need.
- There are also changes to reflect our way of doing business. This includes some changes to when we may not make your payments and when we may block or close your account.
We might have already contacted you to tell you about these changes
To read the terms and conditions that are specific to your account, visit our savings and cash ISAs information page.
The Bank of England Base rate increased from 4.25% to 4.50% on 11 May 2023. Following this, on 2 June we’re increasing the interest rate on savings accounts linked to the base rate.
Accounts linked to the base rate:
| Account name | Rate shown | Interest rate before 2 June | Effective from 2 June |
|---|---|---|---|
| Good for Life ISA | AER/tax free (variable) | 4.25% | 4.50% |
| Rate for Life | AER/gross (variable) | 0.70% for £1+ 4.50% for £1,000+ | 0.85% for £1+ 4.75% for £1,000+ |
We’re also increasing rates on a number of our products that aren’t linked to the base rate on 2 June 2023. Details of your new rates are below.
| Account name | Rate shown | Interest rate before 2 June | Effective from 2 June |
|---|---|---|---|
| Everyday Saver | AER/gross (variable) | 0.70% | 0.85% |
| Private Everyday Saver | AER/gross (variable) | 0.70% | 0.85% |
| Instant Saver | AER/gross (variable) | 0.70% | 0.85% |
| Special Reserve Account | AER/gross (variable) | 0.70% | 0.85% |
| eSaver (Issue 18) and eSaver (Issue 19) | AER/gross (variable) | 0.70% | 0.85% |
| eSaver (Issue 20) | AER/gross (variable) | 0.75% | 0.85% |
| Private eSaver (Issue 7) and Private eSaver (Issue 8) | AER/gross (variable) | 0.70% | 0.85% |
| eISA (Issue 12) and eISA (Issue 13) | AER/tax free (variable) | 0.70% | 0.85% |
| ISA Saver | AER/tax free (variable) | 0.70% | 0.85% |
| Easy ISA | AER/tax free (variable) | 0.70% | 0.85% |
| Inheritance ISA | AER/tax free (variable) | 0.70% | 0.85% |
| TOISA | AER/tax free (variable) | 0.70% | 0.85% |
| Account name | Rate shown | Interest rate before 2 June | Effective from 2 June |
|---|---|---|---|
| Abbey National Retirement Investment Account (ANRIA) | AER/gross (variable) | 4.00% | 4.25% |
| First Home Saver | AER/gross (variable) | 2.30% | 2.45% |
| Help to Buy ISA | AER/tax free (variable) | 2.30% | 2.45% |
| Flexible Saver for Kids | AER/gross (variable) | 1.90% | 2.05% |
| Junior ISA | AER/tax free (variable) | 2.65% | 2.80% |
The Bank of England Base rate increased from 4.00% to 4.25% on 23 March 2023. So because of this, on 18 April we’re increasing the interest rate on savings accounts linked to the base rate.
Accounts linked to the base rate:
| Account name | Rate shown | Interest rate before 18 April | Effective from 18 April |
|---|---|---|---|
| Good for Life ISA | AER/tax free (variable) | 4.00% | 4.25% |
| Rate for Life | AER/gross (variable) | 0.60% for £1+ 4.25% for £1,000+ | 0.70% for £1+ 4.50% for £1,000+ |
We’re also increasing rates on some of our products that aren’t linked to the base rate on 28 March and 18 April. You can find details of your new rates below.
| Account name | Rate shown | Interest rate before 28 March | Effective from 28 March |
|---|---|---|---|
| Everyday Saver | AER/gross (variable) | 0.60% | 0.70% |
| Private Everyday Saver | AER/gross (variable) | 0.60% | 0.70% |
| Instant Saver | AER/gross (variable) | 0.60% | 0.70% |
| Special Reserve Account | AER/gross (variable) | 0.60% | 0.70% |
| Charity Investment Account | AER/gross (variable) | 0.60% | 0.70% |
| eSaver (Issue 18) | AER/tax free (variable) | 0.60% | 0.70% |
| eSaver (Issue 19) | AER/tax free (variable) | 0.60% | 0.70% |
| Private eSaver (Issue 7) | AER/tax free (variable) | 0.60% | 0.70% |
| eISA (Issue 12) | AER/tax free (variable) | 0.60% | 0.70% |
| ISA Saver | AER/tax free (variable) | 0.60% | 0.70% |
| Easy ISA | AER/gross (variable) | 0.60% | 0.70% |
| Inheritance ISA | AER/gross (variable) | 0.60% | 0.70% |
| TOISA | AER/gross (variable) | 0.60% | 0.70% |
| Abbey National Retirement Investment Account (ANRIA) | AER/gross (variable) | 3.75% | 4.00% |
| Account name | Rate shown | Interest rate before 18 April | Effective from 18 April |
|---|---|---|---|
| First Home Saver | AER/gross (variable) | 2.15% | 2.30% |
| Help to Buy ISA | AER/tax free (variable) | 2.15% | 2.30% |
| Flexible Saver for Kids | AER/gross (variable) | 1.75% | 1.90% |
| Junior ISA | AER/tax free (variable) | 2.50% | 2.65% |
The Bank of England Base rate increased from 3.50% to 4.00% on 2 February 2023. So because of this, on 2 March we’re increasing the interest rate on savings accounts linked to the base rate.
Accounts linked to the base rate:
| Account name | Rate shown | Interest rate before 2 March | Effective from 2 March |
|---|---|---|---|
| Good for Life ISA | AER/tax free (variable) | 3.50% | 4.00% |
| Rate for Life | AER/gross (variable) | 0.55% for £1+ 3.75% for £1,000+ | 0.60% for £1+ 4.25% for £1,000+ |
We’re also increasing rates on some of our products that aren’t linked to the base rate on 21 February and 2 March. You can find details of your new rates below.
| Account name | Rate shown | Interest rate before 21 February | Effective from 21 February |
|---|---|---|---|
| Everyday Saver | AER/gross (variable) | 0.55% | 0.60% |
| Private Everyday Saver | AER/gross (variable) | 0.55% | 0.60% |
| Instant Saver | AER/gross (variable) | 0.55% | 0.60% |
| Special Reserve Account | AER/gross (variable) | 0.55% | 0.60% |
| Charity Investment Account | AER/gross (variable) | 0.55% | 0.60% |
| eSaver (Issue 18) | AER/tax free (variable) | 0.55% | 0.60% |
| eSaver (Issue 19) | AER/tax free (variable) | 0.55% | 0.60% |
| Private eSaver (Issue 7) | AER/tax free (variable) | 0.55% | 0.60% |
| eISA (Issue 12) | AER/tax free (variable) | 0.55% | 0.60% |
| ISA Saver | AER/tax free (variable) | 0.55% | 0.60% |
| Easy ISA | AER/gross (variable) | 0.55% | 0.60% |
| Inheritance ISA | AER/gross (variable) | 0.55% | 0.60% |
| TOISA | AER/gross (variable) | 0.55% | 0.60% |
| Account name | Rate shown | Interest rate before 2 March | Effective from 2 March |
|---|---|---|---|
| Abbey National Retirement Investment Account (ANRIA) | AER/gross (variable) | 3.25% | 3.75% |
| First Home Saver | AER/gross (variable) | 1.90% | 2.15% |
| Help to Buy ISA | AER/tax free (variable) | 1.90% | 2.15% |
| Flexible Saver for Kids | AER/gross (variable) | 1.50% | 1.75% |
| Junior ISA | AER/tax free (variable) | 2.25% | 2.50% |