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AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year. The gross rate is the interest rate we pay where no income tax has been deducted. Rates may change and we pay interest each month.
Jun 20, 2023 · Meanwhile its off-sale 1|2|3 Lite current account charges £2 a month and requires £500 to be paid in each month. No interest is paid on current account cash but it offers up to £15 a month cashback on certain direct debit spends.
Feb 7, 2023 · Santander UK has today announced that it is increasing the in-credit interest rate on its 1I2I3, Select and Private Current Accounts to a monthly interest rate of 2.00% AER/1.98% gross (variable) on balances up to £20,000.
- Key Features
- Will I Be Eligible?
- What More Should I Know?
- Is The Santander 1|2|3 Current Account Right For Me?
- What Are My Alternatives?
Monthly interest of 1.75% AER (variable) on balances up to £20,000Up to 3% cashback on selected household bills, capped at £5 each cashback tier each monthEarn up to 15% cashback with Santander Retailer OffersArranged overdraft facility (subject to status)To qualify for a Santander 1|2|3 Current Account, you need to be aged over 18 and live in the UK permanently. You’ll need to pay at least £500 into your account each month and set up two active Direct Debits. You can only hold a maximum of two 1|2|3 Current Accounts: one in your own name and one in joint names.
Cashback is paid in three categories: 1%, 2% and 3%. You can only earn up to £5 in each tier each month, so a maximum of £15. Account Holders get 1% cashback on council tax, mobile and home phone bills, broadband and paid-for TV packages, and Santander monthly mortgage payments. You’ll get 2% cashback on gas and electricity bills, plus Santander ho...
The cashback on your household bills mean the Santander 1|2|3 Current Account is a competitive proposition. If you earn the maximum cashback each month for a year (including the double cashback on energy bills for two months), you can pocket a total of £132 from Santander in the first year. However, you have to pay a £4 monthly fee to maintain the ...
Banks are fighting for current account customers at the moment. If you’re after a cash switching incentive, First Direct’s 1st Account also offers £175. If you’re a cashback fan, Virgin Money’s M Plus account offers 25% cashback for two months on supermarket and fuel spend (up to £160). If you want to switch to Santander but are put off by the £4 m...
Feb 7, 2023 · The 2% AER/1.98% gross (variable) rate applies to the 1|2|3, Select and Private Current Accounts on balances up to £20,000. It will be applied automatically and means customers can earn up to £396.38 in interest each year, as well as cashback on household bills for a £4 a month fee.
Nov 8, 2022 · The annual in-credit interest rate on the 123, Select and Private current accounts has increased to 1.75% on balances up to £20,000, from 1.50%.
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Nov 8, 2022 · The annual in-credit interest rate on the 123, Select and Private current accounts has increased to 1.75% on balances up to £20,000, from 1.50%. The new rate of interest will automatically...
