Santander Regular E-Saver - rate reduced from 5% to 3%

ChaskhaChaia

I don't want to get a 123 account (even the lite one). My household bills are low enough that I'd barely generate any cashback and the DDs are better placed where they are on higher interest/reward current accounts. I'd consider it for a 5% regular saver but not for a 3% one.

stehouk

DennisTenus wrote: »

Where did you get that? Have you had much loss with P2P?

The offer is from Archover, iv'e had two loans mature and not reinvested the funds yet and i think they are trying to tempt me to reinvest.
Not had any losses on p2p to date but i withdrew from funding circle because of the mounting bad debts, i have approx £300 in interest stuck in there that i am able to withdraw in trickles.

butterflymum

It also means that whereas before, non 123 World, Select or Private Banking customers could also have the regular e-saver albeit only at 3%, whilst the 123 World etc. customers got 5%, now only 123 World, Select or Private Banking customers can have it, but at the lower 3% rate:

. This account is exclusively available to current account customers who are part of 1|2|3 World, Santander Select or Private Banking

butterflymum

Further, and somewhat confusingly, for those who still have an issue 6 earning at 5%, if you use the Santander rate checker, it wrongly shows 3% for issue 6:

https://www.santander.co.uk/info/interest-rate-finder?icid=OLB-view-transactions-interest-rate

surreysaver

IanManc wrote: »

Typical. My current 5% regular saver matures on 16th October.

Mine matures today!

vernon

Goodbye Santander reg saver. Shot yourself in the foot again. Mine matures Oct 6. Have cancelled standing order for new one. Goodbye Santander 1-2-3. No gain from direct debits to offset £5 a month fee. Will join Santander Lite. Small gain over £1 fee.

metrobus

Mine matures on the 10th Oct.

With it only being £200 a month I do not think I'll bother again can get around 2% in a short term bond so I if I put the whole £2400 in at the start I'll get £48 a year opposed to drip feeding £200 and getting £38.
Yes I know I would have the extra £ at my disposal during the countdown to the 12 months but do not think for the few quid extra it's worth the effort.

DennisTenus

metrobus wrote: »

Mine matures on the 10th Oct.

With it only being £200 a month I do not think I'll bother again can get around 2% in a short term bond so I if I put the whole £2400 in at the start I'll get £48 a year opposed to drip feeding £200 and getting £38.
Yes I know I would have the extra £ at my disposal during the countdown to the 12 months but do not think for the few quid extra it's worth the effort.

Short term bond where were you thinking?

metrobus

DennisTenus wrote: »

Short term bond where were you thinking?

Charter bank 2.01% 1 year

vernon

Have opened a First Direct reg saver (need to be a current account customer). 5% and up to £300 a month contribution.