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- From Monday 3 August, the rate of interest on Santander's 123 account will fall to 0.6% AER, from 1% AER. The 123 account is pretty rare in that it pays interest on up to £20,000 - at the beginning of this year, when the rate was 1.5% AER, that meant you could earn up to £302 in interest over a year.
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We don’t pay interest on money in your account if you have one of the following accounts: Zero Current Account, Further Education Account, Basic Cash, Basic Banking, Basic with top-up debit card, 1I2I3 Lite Current Account or Instant Plus Account.
- 1I2I3 Current Account
We’ll pay this interest into your current account on the...
- 1I2I3 Current Account
Jun 20, 2023 · However, the 123 account is marginally cheaper, costing £4 a month compared to Edge Up's £5 a month. But in reality £12 a year could be easily won back by the higher in-credit interest...
We’ll pay this interest into your current account on the same day each month. This is usually on the date you opened or transferred your account. We won’t pay you any interest for any month where you don’t meet the eligibility requirements. Interest payments will be paid using the gross rate.
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Jun 20, 2023 · It offers 3.50% AER/3.45% Gross interest on current account balances of up to £25,000, allowing you to earn up to £71.77 every month. Further, there’s fee free debit card spending abroad, and card holders can withdraw money at any ATM worldwide without paying a fee.
The interest rate on Santander's popular 123 Current Account will be reduced to just 0.6% AER from tomorrow (Monday 3 August). The bank had already cut the rate from 1.5% to 1% AER in May, while introducing a £5 monthly cashback cap for each of its three tiers.
Santander is cutting the interest rate on its 123 Current Account again, reducing it from 1% to 0.6% AER from 3 August. This is the second reduction to be announced in three months and means Santander will have knocked 0.9% off its 123 account interest rate since the start of May.
Feb 14, 2023 · Representative APR 39.94% (variable). Subject to financial status. Pros. 1.75% in-credit interest on balances up to £20,000. Cashback on household bills and at selected retailers. Cons. Cashback...
