Anyone still got 4% from Santander Help to Buy ISA?

AK47UK

Hi all,

My year with the short-lived Santander help to buy ISA at 4% ended recently and when I sign in to my account the interest rate is still shown as 4%. Is anyone else seeing the same? I can't find any info about if the interest will be paid monthly from here or if I withdraw within the next year do I lose any interest accrued? I asked in the bank but they said to wait a few weeks and see what the online dash says. 4% seems to good to be true compared to the other market leading rates.

Thanks

Ed-1

AK47UK wrote: »

Hi all,

My year with the short-lived Santander help to buy ISA at 4% ended recently and when I sign in to my account the interest rate is still shown as 4%. Is anyone else seeing the same? I can't find any info about if the interest will be paid monthly from here or if I withdraw within the next year do I lose any interest accrued? I asked in the bank but they said to wait a few weeks and see what the online dash says. 4% seems to good to be true compared to the other market leading rates.

Thanks

Yes I have. It's still 4% for those who opened the first issue. It wasn't just for a year so I don't know where you got that from. As per the terms and conditions, interest is paid annually on 1st March each year. The rate is variable but Santander have a good record of maintaining rates for existing issues, particularly where it's only on limited amounts.

Halifax still pay 3.5% for those who opened the first issue of their Help to Buy ISA.

AK47UK

Thanks Ed, that makes sense then, not sure why the counter in the bank didn't know this. Do you know if accrued interest is forgone if using the ISA before March 1st or do I just lose interest for the month of withdrawal?

Don't suppose you have a link to the T&Cs?

eskbanker

You'll receive accrued interest on a pro rata basis if withdrawing funds during the year - I had a quick look at the Ts & Cs but couldn't see this actually specified anywhere though....

If you want to look for yourself, Santander Ts & Cs are actually fairly easy to find to be honest, go to http://www.santander.co.uk/uk/isas/help-to-buy-isa and there's a tab labelled 'Terms & Conditions' there!

AK47UK

Thanks for that, I wondered if the T&Cs were specific to the rate I got the ISA at but I guess it's the same product so same terms :beer:

aj23_2

I still get 4% and I opened in April 2016. I got £78 on 2 March 2017. I thought it might have been around £85 but that's still a a lot more than what most other accounts can dream of offering.