Santander increases rates on savings account

Santander has increased rates on its eSaver issue 3 to 3.00 per cent for new and existing customers.

The firm made the change from today (March 18th) and made it available with a minimum opening balance of £1 and penalty free access available online.

Reza Attar-Zadeh, Santander's Director of Savings and Investments, said: "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."

He added it offers a great rate and comes with instant, penalty free access and is on offer for a minimum of £1.

According to Santander the account offers great value for savers looking for a competitive rate without restriction and provides them with easy access online.

Santander UK is a full-service retail and commercial bank providing services to 25 million customers in more than 1,400 branches and around 4,500 cash machines.

Use the Myfinances.co.uk's comparison site to find the best deal on a savings account