Santander increases ISA rates

Santander has increased the interest rates on its ISA products in order to offer consumers some of the best savings rates on the market.

From today March 11th, the bank will offer market-leading rates on its Loyalty Flexible ISA and its Flexible ISA.

Rates will increase for both new and existing customers and will offer a minimum guaranteed return of 3.50 per cent AER.

Santander has also launched a new two-year fixed-rate postal ISA designed for people looking to secure a good return on their existing ISA investment.

The new fixed-rate product will pay a best-buy savings interest rate of 3.70 per cent from a minimum of £500 and is available for new subscriptions and ISA transfers.

Reza Attar-Zadeh, director of savings and investments said: "We are committed to delivering value-for-money products and this latest move underlines our desire to ensure customers benefit from the best instant access variable rate ISA in the market."

Fair Investment Company's savings analyst Julie Smith recently claimed that too many ISA savers are earning next to nothing on their savings.
 

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2011-03-11 13:03:48 © Moneyextra.com