Santander Easy Access Saver (Issue 1) Limited Edition up to 4.05%

friolento

equitydealer said:

Funny as Cahoot, who are part of Santander, are paying 4.6% on their instant access account 

I did apply and was accepted for that account back on August 4. As of now, I am still waiting for the promised login details. As Tandem has now leapfrogged everyone else, I doubt I will ever use the Cahoot account.

castle96

Hmmm mine shows !!!!!! 3.98%. What is the 'limit' on the account whereby interest is paid?

refluxer

castle96 said:

Hmmm mine shows !!!!!! 3.98%. What is the 'limit' on the account whereby interest is paid?

3.98% is the gross monthly rate, which equates to 4.05% AER

castle96

thanks. 

What is the 'limit' on the account whereby interest is paid?

refluxer

castle96 said:

thanks. 

What is the 'limit' on the account whereby interest is paid?

The interest rate is paid on the whole balance - the minimum balance for this account is £1 and the maximum is £250k. This rate originally applied for 12 months, but they recently extended it to around 20 months. 

indiana_george

@dealyboy may I ask how much was your interest rate before it went up to 4.05%? Also, did you ask to have your interest rate increased or they applied the increase automatically? 

dealyboy

Hello @indiana_george and Welcome to the Forum 

Fortunately I'm a good record keeper and have snipped the relevant piece from an e-mail received on 29th June ...



I don't think you ever have to ask for a bank to change a rate* but they do generally give good notice of a decrease.

Edit: *Marcus do change/extend a bonus rate on request.

GeoffTF

I am glad that I did not bother with one of these accounts.

refluxer

GeoffTF said:

I am glad that I did not bother with one of these accounts.

Why ? It was the highest-paying easy access account for quite a while when it launched and the latest issue (released last month at 5.2%) still remains one of the highest-paying easy access accounts with unrestricted access.

GeoffTF

refluxer said:

GeoffTF said:

I am glad that I did not bother with one of these accounts.

Why ? It was the highest-paying easy access account for quite a while when it launched and the latest issue (released last month at 5.2%) still remains one of the highest-paying easy access accounts with unrestricted access.

4.05% is now a long way from being the highest paying easy access account. I am using Shawbrook, which has been better at keeping up (currently at 5.11% AER). I try to minimise my account moves, and the record keeping and tax reporting associated with that.