BANK ACCOUNTS, Santander
Santander announce new bond and ISA range
Santander has announced its new range of fixed rate savings bonds and ISAs, available to new and existing customers.
The high street bank’s new Fixed Rate Postal ISA offers a rate of up to 3.50% AER, fixed for two years.
To benefit from the maximum AER, customers must deposit at least £14,000 into the two year ISA. Those who deposit less will earn a rate of 3.25% AER, with a minimum deposit of £500.
Customers can deposit their current tax year cash ISA allowance as well as transfer in previous years' cash ISA savings.
A one year fixed term ISA is also available from Santander, offering up to 3.00% AER to customers who deposit upwards of £14,000. Those who deposit less will earn a rate of 2.75% AER.
For those needing a boost to their bank account, the ISAs allow easy access to your money, without penalty.
“Fixed rate ISAs offer certainty of return with the advantage of earning the interest tax free and therefore continue to prove popular with savers looking to lock in their cash,” said Matt Hall, Head of Savings at Santander.
“Both accounts allow savers to transfer in money held in ISAs from previous tax years so that they can keep all their ISA money in one place and earn a competitive guaranteed return.”
As well as the ISA, Santander has launched its new fixed rate bonds, offering up to 3.55% AER on its two year bond.
Customers who deposit upwards of £25,000 into a two year bond will receive the full 3.55% AER. Those who deposit above £5000 will receive 3.50% AER and those who deposit over £500 will receive 3.20% AER.
“For those savers looking to receive a fixed income, our latest savings bonds could be just the ticket, letting them know exactly what return they will receive from the outset,” Mr Hall added.
“And for those customers looking to track any changes in the Bank of England base rate our Tracker Bond tracks 2.70 per cent over the base rate for 12 months. Customers wishing to take advantage should act now to secure these rates as they are a limited offer.”
Tags: AER, BANK ACCOUNTS, fixed rate savings bonds, ISAs, santander