Santander ups interest rates on mortgages and savings after Bank of England rate rise

Savings rates are beginning to creep up again after the Bank of England increased interest rates by 0.25 percentage points in May and June.

Currently, Santander’s 123 Regular e-Saver offers an attractive rate of 2.5 percent interest but this is only for the first 12 months.

At the end of the 12 month period, savers will have a maximum balance of £2,400 a year plus £48 in interest.

To qualify for this interest rate, customers only need £1 to open an account.

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