Santander rewards loyalty - Savings - News - Moneyfacts

News News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Santander rewards loyalty

Santander rewards loyalty

Category: Savings

Updated: 04/04/2011
First Published: 03/08/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Santander has launched a new Loyalty Tracker Bond that leads the way in the variable rate savings market.

The variable rate fixed term branch and telephone operated account matures on 1 September 2010 and pays investors a yearly rate of 3.00% on a minimum investment of £10K.

The rate is guaranteed to be 2.50% above base rate until the account matures, while no early access or further additions are permitted.

This product is open to existing mortgage, investment and current account holders (who must deposit at least £1K per month) or new current account customers who switch their account, depositing at least £1K per month and have at least two direct debits or standing orders set up.

The Loyalty tracker is the top variable rate bond for such a term at present, although does not have a Best Buy table for this market.

In addition, Santander has also launched a new 1 Year Fixed Rate Bond that pays a yearly rate of 2.80% (2.76% monthly) on a minimum investment of £1.

No early access or additions are permitted.

Both products have been awarded four out of five Moneyfacts stars.

Click here to see more short term fixed rate bonds

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Just 44 savings accounts beat inflation

Inflation recorded another large jump during December, and predictably, this has had a devastating impact on the number of savings accounts that beat it, so much so that you’ll need to lock your money away if you want an inflation-beating return.

Just 47% have money in a savings account

We’re often told of the importance of saving, yet unfortunately, the message doesn’t always get through. Indeed, research shows that just 47% of those surveyed have money in a savings account, and 17% have no savings or investment whatsoever.

How much will you save this year?

Many of us have set savings goals for the year ahead, and planning to budget better and save more will be at the top of many financial resolution lists. But how much are you hoping to squirrel away? Encouragingly, many people have impressive targets.