This comparison simply includes all savings accounts.
Santander Savings Accounts
Why we like it: Which? Recommended Savings Provider. No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services. Compensation Scheme (FSCS)
Why we like it: Interest can be paid monthly or annually. £500,000 maximum balance. FSCS Protected. Must be UK resident and aged 18 or older. Unlimited withdrawals subject to 45 days notice
Why we like it: Interest can be paid monthly or annually. £500,000 maximum balance. FSCS Protected. Must be UK resident and aged 18 or older. Unlimited withdrawals subject to 45 days notice
Why we like it: Minimum deposit £1000. No withdrawals permitted. Apply online. Eligible deposits covered by UK FSCS.
Why we like it: Minimum deposit £1,000. Interest paid at maturity. No withdrawals permitted. Apply online. Eligible deposits covered by UK FSCS.
Why we like it: Which? Recommended Savings Provider. Save from £1,000 to £1,000,000. No withdrawals before the end of the term. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: Which? Recommended Savings Provider. Save from £1,000 to £1,000,000. No withdrawals before the end of the term. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: Which? Recommended Savings Provider. Save from £1,000 to £1,000,000. No withdrawals before the end of the term. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: Which? Recommended Savings Provider. Save from £1,000 to £1,000,000. No withdrawals before the end of the term. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: Earn 1.00% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% CASHBACK on various household bills. Monthly fee of £5. Cashback capped at £5 for each cashback tier each month. Must pay in £500 pm.
Why we like it: Check where you’re up to anytime, anywhere with our app and online banking. Keep track of your money with real-time balance and transaction details. Instant spending alerts. Send money in seconds to your existing payees or set up new ones. Contactless debit card. Pay in cash and cheques at the Post Office. Use your fingerprint or facial recognition as a way to access your account. Lock your card if you lose it, and unlock it again if it turns up. No minimum monthly pay in. No fees if we’re refusing a payment due to lack of funds (such as if a Direct Debit bounces). No credit checks. Improve your credit score. Apply in a few minutes with no tricky questions
Compare Santander savings accounts
The Santander Group is a Spanish banking group which offers a range of savings products to customers around the world. Below we look at the main types of savings accounts Santander has on offer and explain some of their key pros and cons.
Current Accounts
When your savings are relatively modest, you are probably best keeping them in your current account. This is because current accounts usually pay good rates of interest on smaller amounts.
If your balance goes over the interest-paying limit, however, you will usually earn nothing on the excess. This should then be transferred to another type of savings account to maximise your return.
Instant Access Savings Accounts
If you want the flexibility to add and remove funds from your savings account when it suits you, an instant access savings account is likely to be the best fit. You can normally deposit and withdraw money instantly, but there may be an annual limit on the number of times you can do this.
Many instant access accounts will come with a cash card, allowing you to get money from a standard ATM. Others require you to make withdrawals in person at a branch or use phone and online banking to make transfers.
Regular Savings Accounts
For savers who want to put a little bit of money aside each month, a regular savings account makes a lot of sense. You will usually have to commit to making a minimum deposit each month or risk paying a penalty fee and you make only be able to make so many withdrawals a year.
In exchange you will generally get a favourable interest rate, although it may take a while to see much of a benefit from this as you will need to build up your capital first.
Fixed Rate Bonds
If you want a reliable return on a lump sum, fixed rate bonds are a good possibility. They pay guaranteed rates of interest over a set period with the downside being you can’t access your money until the bond matures. The longer the bond lasts for, the higher the interest rate you will tend to be offered.
Cash ISAs
For UK tax payers, cash ISAs are a very attractive proposition. They let you earn interest tax free on deposits below a certain yearly threshold set by the government. For the 2017/18 tax year the cut-off is £20,000.
ISAs are usually offered either as instant access or fixed term. Instant access cash ISAs let you add and remove funds whenever you want to and pay variable rates of interest. Fixed term cash ISAs act like fixed rate bonds, but with the benefit of paying no tax on your interest.
Find the best Santander savings account for you
With such a range of providers and products on the market, making the best choice is challenging. To help make things a little easier, we offer a savings account comparison tool (see the top of this page). This allows you to quickly and simply compare the best offers currently available on savings accounts from all the top providers, making your decision much less confusing.
