Santander Easy Access Saver interest payment

where_are_we

The Santander Easy Access Saver account annual interest payment has just been made to my account on it`s one year anniversary. I can get better than the 4.2% that it currently pays and have moved all but £1 to a 5.2% easy access account.

Exodi

OK but what's the question?

Which account did you move it to as I believe most of the 5.2%'s have been decreased or are planned to in the next month.

Also I thought the Santander EA reduced from 5.2% to 4.2% in May https://www.moneysavingexpert.com/news/2024/03/santander-easy-access-rate-cut/

Is it that you've only just noticed as you've been paid interest?

friolento

Exodi said:

 

Is it that you've only just noticed as you've been paid interest?

They only just paid the interest for the original 5.2% esaver accounts that are still open and which reached their anniversary. I opened mine on Sept 3 2023 and got interest credited on Sept 5 2024, which sounds about right

where_are_we

Yes Exodi - I`ve only just noticed that the interest has been paid and was a nice suprise. I had £1 in it to keep it running because the rate was down to 4.2%. It`s easy to overlook these semi-dormant accounts and annual interest payments eg in the past old Tescobank Internet Saver accounts, all earning being below par interest rates. In my case the Santander EAS interest was small but my OH, who benefits from the £5000 Starting Saving Rate of 0% on £5000 and holds most of our savings had several hundred pounds of interest paid.

For easy access we have 3 Cahoot Sunny Day Savers paying 5.2% until the 18th of November plus numerous Regular Savers earning much higher interest rates that need funding.

allegro120

where_are_we said:

Yes Exodi - I`ve only just noticed that the interest has been paid and was a nice suprise. I had £1 in it to keep it running because the rate was down to 4.2%. It`s easy to overlook these semi-dormant accounts and annual interest payments eg in the past old Tescobank Internet Saver accounts, all earning being below par interest rates. In my case the Santander EAS interest was small but my OH, who benefits from the £5000 Starting Saving Rate of 0% on £5000 and holds most of our savings had several hundred pounds of interest paid.

For easy access we have 3 Cahoot Sunny Day Savers paying 5.2% until the 18th of November plus numerous Regular Savers earning much higher interest rates that need funding.

It may say so in T&C, but you don't need to have £1 in that account.  Mine has been empty from the day the rate was reduced from 5.2% to 4.2% and the account is still running.