Santander has made waves in the savings market with its brand new regular savings account, which has leapt straight into pole position in the charts thanks to its highly eye-catching rate and terms.
The one-year Regular eSaver pays a market-leading variable rate of 5.00% yearly, enabling it to hold a position right at the very top of its sector.
This account can be opened in branch or by phone, but it must then be operated online or by mobile app. A minimum investment of just £1 is required. It should be noted that this is a linked product – savers will need to have or open a Santander current account through which transactions will be made.
Regular payments of up to £200 can be made each month but there is absolutely no penalty for missed payments. Further additions can also be made at any time, provided they do not exceed the monthly limit. Savers will also be pleased to hear that withdrawals are unlimited and without restriction, although funds cannot be replaced once they have been taken out.
This deal is likely to grab attention straightaway thanks to its market-leading rate. Its appeal is boosted yet further by the fact that it has no penalty on missed payments and allows withdrawals at any time. Savers who are looking to get into the savings habit and profit from a great rate are therefore likely to give this offer some serious consideration. This is truly an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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 Any products featured may be withdrawn by their provider or changed at any time.
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