Santander Edge Saver Message reducing interest

FataVerde

I got this message about my Santander Edge Saver. I am confused what it means by "the first 12 months". I opened my account in April 2025 and have the 6% that included the 2% bonus for 12 months. Is Santander just telling me they will lower their variable rate in jan 2026? But I still don't get the 12 months by 5 Jan 2026.

"The interest rate on your Santander Edge Saver will go down to 3.50% AER / 3.45%

gross (variable) after the first 12 months on 5 January 2026

We're writing to let you know that the interest rate on your Santander Edge Saver will go down from 4.00% AER / 3.93% gross (variable) after the first 12 months to 3.50% AER / 3.45% gross (variable) after the first 12 months on 5 January 2026.

Account name Santander Edge Saver

Before 5 January 2026 4.00% AER / 3.93% gross (variable) after the first 12 months

From 5 January 2026 3.50% AER / 3.45% gross (variable) after the first 12 months"

molerat

Discussed before on here.  Once your 12 months is up in April the underlying rate will reduce.  If you open a new account the bonus rate is higher so instead of 4% + 2% it will be 3.5% + 2.5%.