Before you apply
- Needs a Santander current account (not a 1|2|3 Mini account held in Trust).
- Sole name.
- Pay in from Santander current account.
- Max £200/month.
What a monthly payment earns
If you pay in each month
- About 8.00% AER on monthly payments for 12 months
- £104.00
- About
- £104.00
Pay in £2,400 over the year, earn about £104, finish with about £2,504. Why you earn about half the headline.
Before tax. This assumes the stored rate stays the same. Each monthly payment earns interest for the months left in the term, about 6.5 months on average. Information only, not a recommendation.
Is my money safe?
FSCS protected: up to £120,000 per person, per banking licence.
This account is on the Santander UK plc licence, which also covers Cahoot. Money with these brands shares one protection limit.
Legal name: Santander UK plc.
Check protection on the FSCS website ↗ (opens in a new tab)Key facts
Money in and out
- Minimum deposit
- £1
- Maximum each month
- £200
- Minimum each month
- £1
- Withdrawals
- Unlimited withdrawals
- Manage
- Online
Interest
- Rate
- 8.00% AER variable
- Gross rate
- 8.00%
- Includes bonus
- 5.00% for 12 months
- Rate after bonus
- 3.00% AER
- Paid
- Not yet checked
- Term
- 12 months
Who can open it
- Requirement
- Needs a Santander current account (not a 1|2|3 Mini account held in Trust)
- Residency
- Age 16 or over. UK resident
Source: santander.co.uk · Last verified 17 Oct 2026, 09:38 UK time
Rate history
We started tracking this account on 14 Oct 2026. Further changes will show here.
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