Santander improves ISA rates

Thursday, 24 February 2011 03:52

Santander is to increase rates for both new and existing customers offering competitive returns with a minimum guaranteed rate of up to 3.30 per cent AER.

Rates improvement will be on offer for both new and existing customers providing them with what the bank deems "competitive returns".

The Loyalty Flexible ISA Issue 1 rewards loyal customers with a guarantee to pay at least 2.80 per cent above the Bank of England base rate for the first 12 months, while the rate will not fall below 3.30 per cent for the same period.

Alternatively, there is the Flexible ISA Issue 3, which guarantees to pay at least 2.65 per cent above the Bank of England base rate for the first 12 months and will not fall below the minimum rate of 3.15 per cent for the period, while also allowing penalty-free access.

Reza Attar-Zadeh, director of savings and investments, said: "With interest rates at an all time low and inflationary pressure increasing, ISAs continue to play a vital role for tax paying savers."

Use Myfinances.co.uk comparison site to find the best deal on an ISA 

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