Santander launches new savings rate

Santander has launched competitive savings interest rates for new and existing customers.

From today March 18th, new customers who open an eSaver issue 3 account will get the highly competitive interest rates of 3.00 per cent gross/AER.

Those who already have an eSaver issue 3 account will also benefit from increased interest rates from today.

Santander claimed that the new rate of interest is a great way for customers to get a competitive return without restriction.

"Saving today could mean security for tomorrow and our new best buy eSaver rate is designed to help customers build a nest egg for their future. Offering a great rate, it comes with instant, penalty free access and is available online for a minimum £1," said Reza Attar-Zadeh, director of savings and investments at the bank.

Defacto recently revealed that new accounts pay more than twice as much interest as those opened in 2010 or before, so it pays to switch savings accounts.

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2011-03-18 15:40:55 © Moneyextra.com