Santander launches 2% fixed rate ISA

New and existing Santander 1|2|3 and Santander Select customers will benefit from the 2 Year Fixed Rate ISA. The standard 2 Year Fixed Rate ISA pays 1.5% AER tax free (fixed).
 
Santander’s latest easy-access Direct ISA SAVER will also be available to new and existing customers. Offering 1.5% AER tax free (variable) for 12 months for 1|2|3 and Select customers, or 1.0% AER tax free (variable), it allows instant access via cash card, telephone and internet banking. Both the 2 Year Fixed Rate ISAs and Direct ISA SAVER require a minimum opening balance of £500.

All Santander ISAs accept transfers in from existing cash ISAs and can also be topped up in the new tax year, helping customers keep all their ISA savings in one account.

Helen Bierton, Head of Savings at Santander said:

“We’re committed to helping families make the most of their hard-earned cash, and new and existing 1|2|3 and Select customers, can reap further rewards by earning a higher rate in addition to benefiting from the cashback and interest available to them on their accounts.
 
“All of our four ISA options help savers who have yet to make arrangements for the current tax year or for those looking to maximise their savings in 2015/16.”

To support its ISA range, Santander will be launching a new mobile ISA App. The app, which is the UK’s first standalone ISA app, will be available to Santander customers and non-customers, with features that include: education information on ISAs; an interest calculator to show how much interest you can earn; and a countdown clock to remind customers of the end of tax year deadline for saving.
 
It will also have details of Santander’s ISA product range and will allow customers to open new ISAs, upgrade existing ones and make transfers in. The new ISA app will deliver a new channel of choice for customers and will help make it easier for customers to save with Santander.