Instant Access Saver
Santander’s Instant Access Saver account offers a great rate of 2.50% gross/AER (variable) on balances between £1,000 up to £2 million. The rate includes a variable rate bonus for the first 12 months of 1.50% gross/AER and allows you to manage your account quickly and easily.
- How it works
- Instant Access Saver allows you to pay money in, take it out, and move it around. And providing you keep £1,000 in there, you will still benefit from the rate. You can manage your savings over the phone or through Santander’s branch counter service. Our branch counter service also allows you to deposit or withdraw funds from your account and all you need to do is to take along your account welcome letter, (which you will receive when you open the account) plus some ID.
- To open an account you can apply online and deposit a minimum of £1,000. There after you can deposit up to £2 million. Your interest is paid annually on the anniversary of the account opening and can go directly into your Instant Access Saver account or into another Santander account – it’s up to you.
- If the balance in your account falls below £1,000 a reduced rate of interest applies to your account which is currently 0.10% gross/AER (variable).
- AER stands for Annual Equivalent Rate and shows what the interest would be if we paid interest and added it to your account each year. The gross rate is the interest rate we pay before income tax is taken off. Rates may change and we pay interest each month or year.
- You can see the key product information for our savings accounts by clicking here.
- How do I transact on my account?
- You cannot manage this account online or make transfers to accounts that aren't held with Santander.
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- To transact on this account, you can:
- Visit your local branch – you will need two forms of ID, eg passport, driving license and your account number
- Call us – you will be asked to quote your account number and customer identification
- This account cannot be operated online
- Whether by phone or branch please remember to have your account number readily available
- There is no card or passbook with this account and you are not able to link this account with any other Santander Account
- You will receive a quarterly statement in March, June, September and December.
- When you open your account we will provide you with a user guide, which will explain how it works in more detail.
- To transact on this account, you can:
- Applying
- The best way to apply for an Instant Access Saver is to apply online. Anyone can apply for an Instant Access Saver and you can open an account on your own, with a partner, or by power of attorney. If an Instant Access Saver isn't for you, then check out our full range of savings products.
AER stands for Annual Equivalent Rate and shows what the interest would be if we paid interest and added it to your account each year. The gross rate is the interest rate we pay before income tax is taken off. Rates may change and we pay interest each month or year.