Santander’s flagship 5.2% easy access savings deal ends TONIGHT
- Santander’s excellent 5.2% easy access account is withdrawn from tonight
- Savers can still get this account if they apply before 11:59 this afternoon.
- Santander’s Easy Access Savings returns to the market tomorrow paying 2.5%
Today is the last chance for savers to open Santander’s limited easy access savings account, which pays a best buy rate of 5.2 per cent on balances up to £250,000 for 12 months.
The easy access account will be withdrawn tonight and savers will have until 11.59pm tonight to open it.
Any applications received before 11:59 p.m. today will receive the 5.2 per cent rate once opened.
Look closely: Santander withdraws its market-leading easy access deal paying 5.2% tonight
The account, which launched just over a week ago, was initially going to be withdrawn on Sunday, September 17, but Santander warned it could be withdrawn sooner if demand was high.
Experts believed early account withdrawal was “an absolute certainty” and now high demand for its best buy rate means it will be withdrawn five days early.
Starting tomorrow, Santander’s easy-access savings account, which offers a rate of 2.5 percent for 12 months, goes on sale again.
On a £10,000 savings fund, that’s a difference of £270 interest: £520 if the limited easy access account is opened today, versus £250 on the lower account.
The account is open to those with or without existing Santander accounts, and can be opened online, in the app, over the phone or in a branch.
Limited easy-access savings revert to Santander’s daily savings at a rate of just 1.05 percent after one year.
Time will tell if other providers will increase their easy access account fees once Santander’s excellent rate disappears.
Other easy access deals near the top of the best buy tables are from Furness Building Society, which pays 5 per cent on deposits of up to £250,000 into its easy access account.
Monument Bank is offering 4.94 per cent, closely followed by Shawbrook Bank, which pays 4.93 per cent.
