Santander Easy Access Saver Limited Edition issue 3

Southcoast01

Santander Easy Access Saver issue 3 interest rate dropping to 3% from 1st August. 

Mark_d

At least they're giving you plenty of notice

surreysaver

Blimey. Didn't know there there are accounts with rates as low as that!

mebu60

Southcoast01 said:

Santander Easy Access Saver issue 3 interest rate dropping to 3% from 1st August. 

And extending the term for a further year from your current maturity date. 

DRS1

surreysaver said:

Blimey. Didn't know there there are accounts with rates as low as that!

Now now.  That is their best rate (so they say).  I guess the Edge Saver doesn't count.

allegro120

mebu60 said:

Southcoast01 said:

Santander Easy Access Saver issue 3 interest rate dropping to 3% from 1st August. 

And extending the term for a further year from your current maturity date. 

Yes, that's the 2nd extension.  It paid the top (5.2%) EA rate at the start and then dropped by 1% down to 4.2%, my balance remains zero since June 2024.  Since that 1% drop the rate remained very uncompetitive.  I didn't close this account, but I doubt it will ever be useful again. 

surreysaver

DRS1 said:

surreysaver said:

Blimey. Didn't know there there are accounts with rates as low as that!

Now now.  That is their best rate (so they say).  I guess the Edge Saver doesn't count.

Then you've got the Regular Saver. Obviously 5% must have been less then 3% when Santander went to school 

allegro120

surreysaver said:

DRS1 said:

surreysaver said:

Blimey. Didn't know there there are accounts with rates as low as that!

Now now.  That is their best rate (so they say).  I guess the Edge Saver doesn't count.

Then you've got the Regular Saver. Obviously 5% must have been less then 3% when Santander went to school 

I've started utilising my Santander Monthly Saver few months ago.  I treat it as a limited subscription EA at higher rate.

mebu60

allegro120 said:

mebu60 said:

Southcoast01 said:

Santander Easy Access Saver issue 3 interest rate dropping to 3% from 1st August. 

And extending the term for a further year from your current maturity date. 

Yes, that's the 2nd extension.  It paid the top (5.2%) EA rate at the start and then dropped by 1% down to 4.2%, my balance remains zero since June 2024.  Since that 1% drop the rate remained very uncompetitive.  I didn't close this account, but I doubt it will ever be useful again. 

I keep a small balance in there that otherwise would just be in the current account. Occasionally when shifting funds around has taken longer than expected and missed the recipient deadline I will pop the money in the Santander EA overnight. 

allegro120

mebu60 said:

allegro120 said:

mebu60 said:

Southcoast01 said:

Santander Easy Access Saver issue 3 interest rate dropping to 3% from 1st August. 

And extending the term for a further year from your current maturity date. 

Yes, that's the 2nd extension.  It paid the top (5.2%) EA rate at the start and then dropped by 1% down to 4.2%, my balance remains zero since June 2024.  Since that 1% drop the rate remained very uncompetitive.  I didn't close this account, but I doubt it will ever be useful again. 

I keep a small balance in there that otherwise would just be in the current account. Occasionally when shifting funds around has taken longer than expected and missed the recipient deadline I will pop the money in the Santander EA overnight. 

It's great for 24/7 instant transactions, but after they dropped the rate down to 4.2% there was always an account offering the same facility at significantly higher rate.