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The account will sit alongside its Edge Saver, which offers a rate of 7% AER.
Santander launched a new easy access savings account today which pays 5.20% AER. The account is labelled the Easy Access Saver Limited Edition (Issue 3) and is available until 17 September, but can be withdrawn sooner.
“We know now more than ever people want their money to go further and this account is one of the ways we are helping customers maximise their savings income,” said Andrea Melville, Director of Current Accounts, Savings and Business Banking at Santander.
Based on the provider’s calculations, a £5,000 deposit would earn £21.66 a month through this account. This works out to be £260 annually.
In comparison, its market-leading Edge Saver only pays 7% AER on balances up to £4,000, meaning its maximum monthly interest payout sits at £22.60.
Account: Easy Access Saver Limited Edition (Issue 3)
Notice: None
Rate: 5.20% AER
Interest paid: Monthly/ Anniversary
Account: Easy Access Issue 36
Notice: None
Rate: 4.93% AER
Interest paid: Monthly/ Anniversary
The next best rate on the market comes from Furness BS at 5% AER. However, it doesn’t facilitate internet banking and allows three penalty-free withdrawals per annum.
Exceed this threshold and the account will revert into an access account at a lower rate of interest.
Meanwhile, the next best rate from Shawbrook Bank doesn’t penalise its users for making withdrawals. Its rate of 4.93% AER can be paid monthly or on anniversary and it includes internet banking.
To compare these offers in more detail, make sure to visit our charts. Alternatively, make use of our interest calculator below to see how much you can earn by switching your savings.
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Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfactscompare.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.
Each week the Moneyfactscompare.co.uk content team round up and discuss the very best ISA rates available in the UK. Compare and apply today.
Changes at the top of the charts for fixed and notice accounts, with best easy access rates staying the same.
The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
This week's selection includes a one-year regular savings account paying 7.00% AER, and a five-year fixed rate mortgage at 4.94%.
Each week the Moneyfactscompare.co.uk content team round up the very best savings rates available in the UK. Compare and apply today.
Metro Bank leads as the top-paying easy access account this week and there are new leaders in the one and three-year fixed bond categories.
Each week the Moneyfactscompare.co.uk content team round up and discuss the very best ISA rates available in the UK. Compare and apply today.
Changes at the top of the charts for fixed and notice accounts, with best easy access rates staying the same.
The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
This week's selection includes a one-year regular savings account paying 7.00% AER, and a five-year fixed rate mortgage at 4.94%.
Each week the Moneyfactscompare.co.uk content team round up the very best savings rates available in the UK. Compare and apply today.
Metro Bank leads as the top-paying easy access account this week and there are new leaders in the one and three-year fixed bond categories.
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I accept. Read our Cookie PolicyMoneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.