Santander has announced that customers can earn £2,400 back by using its Regular Saver account, offering an 8.00% AER/gross (variable) interest rate for 12 months. The bank, which operates branches in Birmingham, says savers can deposit up to £200 per month and access their money at any time.
How the Regular Saver Works
Santander explained: “If you pay in £200 per month from your Santander current account for the full 12 months and take nothing out, you'll get back £2,400, plus up to £104 in interest.” The account includes a 5.00% AER/gross (variable) bonus on top of the base rate, resulting in the total 8.00% for the first year. After 12 months, the bonus ends and the rate drops to 3.00% AER/gross (variable).
Customers must have a Santander current account to set up the monthly transfers. Only one Regular Saver account can be open at a time, and the interest rate is variable, meaning it can increase or decrease. Interest is paid into the account annually.
Fraud Protection Guidance
Santander emphasized that genuine emails will address customers personally and include the last four digits of their account or card number, or the last three characters of their postcode. The bank will never ask customers to log on to Online or Mobile Banking through a link or request personal information such as passwords or security details.
“Never share a Santander One Time Passcode (OTP) with another person. Not even a Santander employee. Never move your money to a new account for security reasons. If you're asked to do this, it will be a scam. Never take things at face value. Criminals pretend to be people you trust. Always make sure you really know who you're talking to,” the bank added.
