Update! Santander First Home Saver Account: 5% on up to 50k savings (up to 35 only)

afmfifgh

Just to let people know that the account ('First Home Saver Special Issue 1', not 'First Home Saver') is still paying 3% as of 11/04/2013 on the balance up to £49,999.99 no interest is earned on balances of £50,000 or more.

Page 10 of 13 about half way down, Rates correct as of 8th April 2013:

http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223431524048&cachecontrol=immediate&ssbinary=true&maxage=3600

Given what else is around this is a great rate at the moment

someone

afmfifgh wrote: »

Just to let people know that the account ('First Home Saver Special Issue 1', not 'First Home Saver') is still paying 3% as of 11/04/2013 on the balance up to £49,999.99 no interest is earned on balances of £50,000 or more.

Page 10 of 13 about half way down, Rates correct as of 8th April 2013:

http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223431524048&cachecontrol=immediate&ssbinary=true&maxage=3600

Given what else is around this is a great rate at the moment

Is that £50k cap new?

afmfifgh

No it has been on the account since it was very first offered. You can have more in the account but any money more than £49,999.99 won't be earning interest.

afmfifgh

Just to let people know that the account ('First Home Saver Special Issue 1', not 'First Home Saver') is STILL paying 3% as of 13/05/2013 on the balance up to £49,999.99 no interest is earned on balances of £50,000 or more.

Page 10 of 13 about half way down, Rates correct as of 8th May 2013:

http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223432344039&maxage=3600

A great rate - long may it continue!

chamelion

afmfifgh wrote: »

Just to let people know that the account ('First Home Saver Special Issue 1', not 'First Home Saver') is STILL paying 3% as of 13/05/2013 on the balance up to £49,999.99 no interest is earned on balances of £50,000 or more.

Page 10 of 13 about half way down, Rates correct as of 8th May 2013:

http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223432344039&maxage=3600

A great rate - long may it continue!

Personally I think their 123 account is better. You get the 3% interest. While there's a £2/mo fee, that's easily offset by an up-to-3% cashback on bills.

beefturnmail

To say one is 'better' than the other is a bit like comparing apples and pears - the 123 current account has other strings attached (e.g. you have to fund with a minimum amount each month).

chamelion

beefturnmail wrote: »

To say one is 'better' than the other is a bit like comparing apples and pears - the 123 current account has other strings attached (e.g. you have to fund with a minimum amount each month).

Which is why I said "personally..."

In the same way I can say I prefer Pears over Apples, and it's a valid statement.

I didn't claim Pears are better than Apples

afmfifgh

Just to let people know that the account ('First Home Saver Special Issue 1', not 'First Home Saver') is STILL paying 3% as of 14/06/2013 on the balance up to £49,999.99 no interest is earned on balances of £50,000 or more.

Page 10 of 13 about half way down, Rates correct as of 3rd June 2013:

http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223433122021&maxage=3600

NikkyWikky

"STILL paying 3% as of 14/06/2013 on the balance up to £49,999.99 no interest is earned on balances of £50,000 or more."

trying to maximise this account to its full potential as it is the best paying at the moment. If I put the whole amount £49,999.99 then I assume it will get 3% on that amount. But what happens to the interest made on the first month that obviously won't get 3% (as it will put the amount over 50k). So is it worth taking money out every month to make sure the interest earned is making money else where? If so how much?

apt

There is no real need to run the account close to £50,000 and have the hassle of transferring away anything above £49,999.99 when the Nationwide will pay you 5% on balances up to £2,500.