The Top Easy Access Savings Discussion Area

Bridlington1

For those who have it the NLA Santander Easy Access Saver Limited Edition (Issue 3) to reduce from 5.2% to 4.2% from 8/5/24.

EDIT:
Interest rate reduction will come into effect from 20th May.

jimexbox

Bridlington1 said:

For those who have it the NLA Santander Limited Edition Esaver Issue 3 to reduce from 5.2% to 4.2% from 8/5/24

A big drop. Im sure we've all got back-ups ready.

Swipe

Bridlington1 said:

For those who have it the NLA Santander Limited Edition Esaver Issue 3 to reduce from 5.2% to 4.2% from 8/5/24

Very disappointing from Santander

RG2015

Bridlington1 said:

For those who have it the NLA Santander Limited Edition Esaver Issue 3 to reduce from 5.2% to 4.2% from 8/5/24

Is this different from the following one which runs for 12 months from opening, in my case September?

East Access Saver Limited Edition (Issue 3)

https://www.santander.co.uk/assets/s3fs-public/AD_documents/easy_access_saver_limited_edition_issue_3_key_facts_document_save0665sep23hcd_limited_lr.pdf

InvesterJones

RG2015 said:

Bridlington1 said:

For those who have it the NLA Santander Limited Edition Esaver Issue 3 to reduce from 5.2% to 4.2% from 8/5/24

Is this different from the following one which runs for 12 months from opening, in my case September?

East Access Saver Limited Edition (Issue 3)

https://www.santander.co.uk/assets/s3fs-public/AD_documents/easy_access_saver_limited_edition_issue_3_key_facts_document_save0665sep23hcd_limited_lr.pdf

No it's the same. As you can see on your link, they can change the interest rate.

InvesterJones

Shawbrook are also reducing their notice period for interest rate changes - think it was a month before, but from 9th May they're dropping to 14 days.

Chadsman

Bridlington1 said:

For those who have it the NLA Santander Limited Edition Esaver Issue 3 to reduce from 5.2% to 4.2% from 8/5/24

Did you get this from an email, letter...?

jaypers

Bridlington1 said:

For those who have it the NLA Santander Limited Edition Esaver Issue 3 to reduce from 5.2% to 4.2% from 8/5/24

I am also having difficulty finding anything about this anywhere. What is the source please? If correct (and I’m sure it is) my money will be moving away!

CuparLad

RG2015 said:

Okay thanks.

However 5.20% fixed for 12 months from opening is somewhat inconsistent with we can change the interest rate.

The Key Facts document you have linked to states that the rate is variable:

5.20% AER/gross (variable) for 12 months from account opening

I'm afraid it's the account that runs for 12 months, not the rate.

AlwaysLearnin

InvesterJones said:

Shawbrook are also reducing their notice period for interest rate changes - think it was a month before, but from 9th May they're dropping to 14 days.

Kinda got that feeling of being at the top of the start of a roller coaster, just before the rapid descent...