Is this santander acccount any good?

martin57

Hi fols,

Just wondering if this Alliance and leicester/santander account is any good for stacking a good few k's away in? It says pays 2.9% aer instant access which includes a bonus of 1.4%.

http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&c=Page&canal=CABBEYCOM&cid=1237848019094&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateW2


Does this really mean that say I put money in it for 3 mths I don't earn the 2.9% and only earn 0.5%?

I am looking for mthly income and kinda 50/50 about taking out a one year bond in case rates rise.

My current bond with alliance and leicester matures at start of april.

thanks very much for all advice.

Martin57

KTF

You earn 2.9% gross for 1 year after you open the account then the bonus is removed and the rate drops down to 0.5%

G_M

Just to be clear, interest will acrue daily, so if you close the account within the year, yes, you will get the bonus rate for the period the account was open. Keep it longer than a year, and the interest rate drops.