Santander easy access 5.2% - only got 5.08%

cs95aam

Did everyone who applied by the deadline last Tuesday get the 5.2%? I only got 5.08%? This was around 9pm. 

Wheres_My_Cashback

I wonder how many times this has been posted over the past 2 weeks ?

5.08 is Gross
5.20 is AER

t33

@admin or whoever, we really need a sticky on this.

frugalmacdugal

Hi,

did you go for monthly or annual, did you read T&Cs?

jimexbox

I wish all accounts would show AER. Some show gross, while others show AER.

cs95aam

Wheres_My_Cashback said:

I wonder how many times this has been posted over the past 2 weeks ?

5.08 is Gross
5.20 is AER

I’m sorry but I did a search for Santander before I posted and I couldn’t see anything. Thank you I really appreciate it. I’ve got so much on at the moment my head is spinning 😵‍💫 which doesn’t help. 

cs95aam

t33 said:

@admin or whoever, we really need a sticky on this.

That would be great! Thanks

sheslookinhot

t33 said:

@admin or whoever, we really need a sticky on this.

We really don’t. What is needed is that people read the T’s & C’s, or at least the summary, before they apply for new accounts.

dealyboy

sheslookinhot said:

t33 said:

@admin or whoever, we really need a sticky on this.

We really don’t. What is needed is that people read the T’s & C’s, or at least the summary, before they apply for new accounts.

... or to learn 'the difference between gross and AER' ... google that and it will tell you, oh it will refer to 'compound interest'.

surreysaver

cs95aam said:

Did everyone who applied by the deadline last Tuesday get the 5.2%? I only got 5.08%? This was around 9pm. 

Me too. But I reckon as I opted for monthly interest, that equals 5.2% over the year if I leave the interest in the account to compound. So 5.08 paid monthly is equivalent to 5.2 paid annually I believe 

Wheres_My_Cashback

cs95aam said:

Wheres_My_Cashback said:

I wonder how many times this has been posted over the past 2 weeks ?

5.08 is Gross
5.20 is AER

I’m sorry but I did a search for Santander before I posted and I couldn’t see anything. Thank you I really appreciate it. I’ve got so much on at the moment my head is spinning 😵‍💫 which doesn’t help. 

No need to be sorry, a few years ago I may well have queried something like this, but having spent time here I have learnt to always check and understand key facts about financial products. I was more thinking out loud when I commented on how many as it's been a very popular question recently ;-)

I'd imagine the vast majority of people with savings accounts won't know the difference between Gross and AER either.