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Santander current account to make mouths water

Santander current account to make mouths water

Category: Banking

Updated: 15/02/2010
First Published: 15/02/2010

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 It is now over 6 months old so the content may be out of date.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 current accounts with all manner of potentially useful mod cons attached.

The Premium Bank Account pays a mouth-watering credit interest rate of 5.84% up to £2.5K for 12 months, after which it reverts to 1.00% (balances over £2.5K are paid 0.1%).

There's an interest free overdraft buffer of £500, while the overdraft rates themselves are relatively low: the authorised overdraft is charged at 1.02% per month, 12.9% EAR, while the unauthorised overdraft stands at 2.12% per month, 28.7% EAR.

Amongst the packaged benefits on offer to account holders are worldwide travel insurance, motoring assistance, airport lounge access and commission free travel money.

Weighing the usefulness of these benefits against the monthly fee of £20 is a crucial consideration to make.

However, the market leading credit interest rate and low overdraft rates are enough to ensure this account earns four out five Moneyfacts stars.

Compare current accounts

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 Any products featured may be withdrawn by their provider or changed at any time.