July 05, 2011 06:58 ET

Santander Launches Latest Fixed Rate ISA Range Paying Up to 3.50 Per Cent

- Competitive rate of 3.50 per cent AER fixed for two years

- One year term available paying 3.00 per cent AER

- Existing ISA money can be transferred in

LONDON, UNITED KINGDOM--(Marketwire - July 5, 2011) - This week Santander has launched its latest Fixed Rate ISA range paying 3.50 per cent tax free for the two year ISA or 3.00 per cent tax free for the one year ISA. The accounts are available for both new and existing ISA savings.

Savers can deposit their current tax year cash ISA allowance as well as transfer in previous year ISA savings and receive a highly competitive return.

Fixed Rate Postal ISA

Term Save from Earn Gross / AER (fixed)
2 Years £500 3.50%
1 Year £500 3.00%

These are limited offers that may change or be withdrawn at any time, so savers are encouraged to take advantage early in order to avoid disappointment. Both accounts are available to open in any Santander branch as well as over the telephone by calling 0800 234 6065.

Reza Attar-Zadeh, Director of Savings and Investments at Santander said: "Fixed rate ISAs offer certainty of return with the advantage of earning the interest tax free. With rates up to 3.50 per cent on our fixed rate ISAs, savers can be assured they are getting a good return. Both accounts allow savers to transfer in money held in cash ISAs from previous tax years so that they can keep all their cash ISA money in one place."

For savers looking for variable rate cash ISAs, Santander continues to offer its market leading Flexible ISA (Issue 3) paying 3.30 per cent for new ISA subscriptions. The account guarantees to pay at least 2.80 per cent above the Bank of England base rate for the first 12 months and the rate will not fall below the minimum rate of 3.30 per cent for the first 12 month period, so you're guaranteed a competitive return¹. The account allows penalty free access for withdrawals and is designed to encourage more people to save tax-free.

The information contained in our press releases is intended solely for journalists and should not be used by consumers to make financial decisions.

Notes to Editors

1 - After 12 months Flexible ISA pays a variable rate, currently 0.50%. If the Bank of England base rate changes, the rate on Flexible ISA will change on the 1st of the following month.

Account Fixed Rate ISA Flexible ISA
Interest rate (AER) 2 Year: 3.50% Fixed
1 Year: 3.00%
Minimum 3.30% (2.80% + BoE base rate for 12 months)
Minimum £500 £1
Condition No conditions No conditions
Withdrawals By post on account closure or full transfer, subject to loss of 120 days' interest for 2 year and 90 days' interest for 1 year Easy Access
ISA transfers in accepted Yes No
Opening Branch, Telephone Branch, Online, Telephone
Management Post Branch, Online, Telephone & Cash machine

About Us

Santander UK plc is a full-service retail and commercial bank providing services to 25 million customers in more than 1,400 branches and around 4,200 cash machines. It is a wholly owned subsidiary of Banco Santander. It provides customers with a variety of retail banking products, such as low rate personal loans or insurance products from a range of providers.

Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and commercial bank, based in Spain, with a presence in 10 main markets. At the end of 2010, Santander was the largest bank in the euro zone and 10th in the world by market capitalization. Founded in 1857, Santander had at year-end EUR 1,362 billion in managed funds, more than 95 million customers, 14,082 branches – more than any other international bank – and 179,000 employees. It is the largest financial group in Spain and Latin America. Furthermore, it has relevant positions in the United Kingdom, Portugal, the U.S. northeast and, through its Santander Consumer Finance arm, in Germany and Poland. Santander registered €8,181 million in net attributable profit in 2010.

The press office operates from 8.00am to 6.00pm. Outside of these hours please call 0800 5877708.

Contact Information

  • Media Enquiries
    Susan Hannums
    07920 297 414

    Nicola Hussey
    020 7756 4209