Santander 123 Interest rate

Lokolo_2

Does the 3% interest on balances between £3k and £20k have an expiry date when it drops? I opened mine in April 2013. I know some accounts the rate drops after a year so I'm wondering if this is the same or if the rate is just prone to Santander changing it whenever they like?

Apologies if this has been asked before, I couldn't find any reference information on the Santander site.

Thank you.

cwal

It's a variable rate account so they could drop it but then how that would fit in with calling it a 123 account I don't know. The rate has no bonus period attached so once you've had the account for a year you still get the same rate.
Hope this helps

Lokolo_2

cwal wrote: »

It's a variable rate account so they could drop it but then how that would fit in with calling it a 123 account I don't know. The rate has no bonus period attached so once you've had the account for a year you still get the same rate.
Hope this helps

Thanks very much! That's good news I guess then, I would like to keep money in there as long as possible as the rate is better than all the other instant access accounts!