santander 123 interest rate over £20000

As for the 123 current account, Mr Coates said: “The bank account is better than others that offer an eye-catching rate of interest, because those tend to apply to a narrower range of lower balances. If you're switching to us there'll be no arranged overdraft interest charged for the first 4 months.Â. It's paid from your account automatically each month. You can also register for other account alerts to help you to stay on top of your finances. If you earn over £150,000 a year and are a top-rate taxpayer you don’t get a … Earn cashback on your household bills and interest on your balance, Up to 3% cashback on selected household bills, capped at £5 each cashback tier each month, on Santander home insurance and/or life protection provided by Aviva, in my account (up to a maximum of £20,000), Investment fees, charges and key documents, 1|2|3 Current Account Key Facts Document (pdf) (2.52 MB), 1|2|3 Current Account Fee Information Document (pdf) (116 KB), General Terms & Conditions (pdf) (358 KB), Arranged Overdraft facility (subject to status) - learn more in the 'Overdrafts and charges' section below, Pay at least £500 into your account a month, You are over 18 and live in the UK permanently, your account makes or may make  use of an unarranged overdraft, you have regular payments due on your account and you don’t have the funds to cover them. The personal savings allowance means … I … Registered in England and Wales. www.santander.co.uk. But rail passengers and student loan borrowers are likely to be better off, HSBC has raised fresh fears that it could be about to slash the interest rate on its regular savings account after accidentally sending emails to customers showing a reduced rate of just 1%, MoneySavingExpert.com can reveal, Covid travel refunds - Lastminute.com, Teletext, Ryanair among the worst, Thousands bag avg £378 Help to Save bonuses, E.on takes 1.5 million payments early in direct debit blunder. … Including can you reschedule, what do insurers cover and will you get a refund? View all current accounts. Actual credit limit may differ. Don't miss out, Premium Bond holders will continue to get paper prize cheques until at least spring 2021, as NS&I has delayed phasing them out after some reported difficulties registering bank account details, At least 10 banks, building societies and credit card firms have now decided to close accounts held by Brits living abroad in Europe as a result of Brexit, Pension savers could see their pots fall from 2030 as a result of a shake-up to how inflation is calculated. As usual, the interest rate you’re offered once applied depends on your personal circumstances, so there’s no guaranteed you’ll actually get the advertised rate … Find cheap pick-up only items near you - they often attract fewer bids. Santander said the changes were being made ‘due to the market expectation of interest rates staying lower for … Shortly after getting the 123 account, which at the time offered a whopping 3% interest on balances up to £20,000 for a monthly fee of just £2, I also took out a mortgage with Santander. Turbo boost your credit chances and get your free Experian credit report. However the supermarket and its rivals insist there are currently no product shortages and are urging customers to shop normally. You can ask for up to 3 months of temporary overdraft support if you still find yourself financially impacted by coronavirus. Revealed: Santander 123 customers face DOUBLE rate drop – to 1% today and to 0.6% in August. Santander’s 123 account was unique in that it paid a relatively high interest rate on a large sum of money – up to £20,000. Monthly interest of 0.60% AER/gross* (variable) on balances up to £20,000. £5.00 monthly fee, 0.6% AER, Representative Example*: 0% EAR (variable) Arranged Overdraft. Keep your banking details private and secure. The way you manage your overdraft, for example if you don’t repay your interest and charges regularly, may affect your credit file. Now, it's just another has-been account.". Posts may be deleted and repeat offenders blocked at our discretion. From 1 November, the 123 current account will pay a single interest rate of 1.50% on balances up to £20,000… Registered Number 2294747. The deadlines for free and cheap delivery before Christmas are FAST approaching, £150 of Ciaté nail polish for £34 all-in, Trick gets TWO boxes of £2 Shreddies cereal for 60p - stack £1.50 coupon or cashback with supermarket offer. Mortgages, credit cards, loans, payday loans, car finance and more, Amazon Warehouse – get returned items or mildly damaged products for knock-down prices, LAST OOOOORDERS! We offer a simple, reliable and stress-free way to switch your current account to a new or existing Santander account, Not sure which current account is right for you? To view these documents you may need to download Adobe Reader. The 123 account is pretty … The account's monthly fee hasn't changed this year â€“ it remains £5/mth. We’ll send them before your account is charged so that you have plenty of time to pay in money and either avoid or reduce overdraft charges. Santander is cutting the interest rate on its hugely popular 123 account from 3% to 1.5% in a move that will hit millions of savers. We often link to other websites, but we can't be responsible for their content. But if you're affected, the good news is you can simply cancel the calls plan penalty-free, Tesco has re-introduced restrictions on grocery sales, allowing shoppers to buy only three packs of certain items and just a single pack of toilet roll. SANTANDER have today lowered the interest rates on their '123' account. This is the second reduction to be announced in three months and means Santander will have knocked 0.9% off its 123 account interest rate … 1|2|3 Current Account cashback calculator, Earn 1-3% cashback on selected household bills paid by Direct Debit, This calculator is for illustrative purposes only and shows how much cashback and interest you could earn. Shows which top cards and loans you're most likely to get. If you qualify for gross interest, you need to give Santander an R85. To find out how we can help you and to request support, please see our FAQs. You’ll be automatically set up to receive text alerts when: You’ll also be automatically set up to receive an alert when your account goes further into arranged overdraft which may cause the cost to increase. We aim to look at all available products. The coronavirus outbreak is causing major travel disruption around the globe, TalkTalk home phone customers with its Unlimited UK Calls Boost plan will see prices rise by £24 a year from January, the provider has confirmed. Please contact fbteam@moneysavingexpert.com if you wish to report any comments. Please read the Full Terms & Conditions, Privacy Policy, Cookies Q&A, How this site is financed and MSE's Editorial Code. And on 5 May â€“ the same day as these cuts came into effect â€“ Santander announced it would slash its interest rate for a second time, to 0.6%. Our TravelMoneyMax tool compares 30+ bureaux to max your holiday cash. Within the last week, we've seen the extension of coronavirus credit card, personal loan and overdraft help to 31 October 2020, with mortgage payment holidays already extended. If you are switching to Santander … The regulator's other help schemes are also likely to be extended too, including car finance and payday loans, yet should you do it? (for a £5 monthly fee to maintain the account). Cashback is paid on Direct Debit payments made directly to the provider. Arranged Overdraft Usage Fee of £1 per day. Santander and the flame logo are registered trademarks. Rates are displayed to 2 decimal places. where a payment is refused as you don’t have enough funds. If you don’t normally maintain a credit balance in your account, have a look at the 1|2|3 Lite Current Account which lets you earn cashback on your household bills for a £2 monthly fee to maintain your account. We're a journalistic website and aim to provide the best MoneySaving guides, tips, tools and techniques, but can't guarantee to be perfect, so do note you use the information at your own risk and we can't accept liability if things go wrong. Registered in England and Wales. The first were announced in January and applied to 123 account customers from 5 May, the second set applied from 3 August, and the third set will apply to 123 and 123 Lite customers from 27 October. To earn interest and cashback you'll need to pay in £500 a month (any interest paid, and payments between Santander personal accounts you’re named on won't count towards this) and have 2 active Direct Debits. The calculations above assume you, like 95% of savers, don’t pay tax on the interest. The lower interest rate also would result in monthly payments about $60 less. Santander is getting rid of the tiered interest rate offered on the 123 account, (1% on balances of £1,000, 2% on balances of £2,000 and 3% on balances of between £3,000 and £20,000) in favour of a flat … We may ask you to repay all or part of your overdraft at any time but we'll try to notify you of this in advance. And a third useful bank account could well be the Post Office, which offers an interest rate … Mobile and home phone bills, broadband and paid-for TV packages, Santander Home Insurance premiums (policies administered and underwritten by Aviva Insurance Limited), Santander Life Insurance premiums (policies administered and underwritten by Aviva Life & Pensions UK Limited). Santander UK plc. The interest rate was cut from 1% to 0.6%. Revealed: Santander 123 customers face DOUBLE rate drop, For all the latest deals, guides and loopholes - join the 12m who get it. Your account number, card and PIN will all stay the same. Santander has slashed the perks on its flagship current account, a change that will cost its four million account holders up to £100 a year. The purpose of a representative APR is to enable customers to compare the costs associated with different credit products. Santander’s 123 bank account pays interest on balances up the £20,000 … Actual credit limit may differ. If you go through it, it can sometimes result in a payment or benefit to the site. Santander 123 looks worse. We offer other current accounts with different overdraft interest rates or without the option for an overdraft facility. TalkTalk to hike cost of home phone calls package by £24 a year, Tesco limits sales of toilet roll, eggs, rice and soap, Martin Lewis: This is why I set up a charity…, Martin Lewis: Working from home due to coronavirus, even for a day? Santander has since publicised further changes â€“ from 27 October it's adjusting the cashback offered on its 123 and 123 Lite accounts and doubling the 123 Lite fee from £1/month to £2/month. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Calls may be recorded or monitored. What are your rights to a refund if you need to cancel or change a wedding? Santander's 123 account paid 3 per cent interest on balances of up to £20,000 until 2016 - giving the 'three' element to the product name. Martin Lewis is a registered trade mark belonging to Martin S Lewis. ... - Do I receive 3% interest of £20,000 and 0% on £1 for that month? "The option for Santander 123 customers is simple. Claim a year's worth of tax relief, Martin Lewis: Had a PPI payout? An overdraft lets you borrow through your current account. Grab the latest deals, guides, tips 'n' tricks directly from Martin and the MSE team. We also have different borrowing options, such as credit cards, personal loans, and additional loans for our existing mortgage customers. This comes on top of a rate cut in May from 1.5% to 1% and should act as a clarion call for anyone still with the 123 account to switch to better payers – and there are still a few out there. The cashback terms will change along with … There is a cost associated with using an overdraft. THE Santander 123 current account used to offer customers three per cent interest on savings up to £20,000 - above and beyond what anyone else was offering. Overdrafts depend on your circumstances and you must repay any overdraft when we ask in line with our General Terms and Conditions. You are over 18 and live in the UK permanently. But you can cancel your contract penalty-free.TalkTalk landline customers with its Unlimited UK Calls Boost plan will see their bill jump by £24 a year from January. Overdrafts depend on your circumstances and you must repay any overdraft when we ask in line with our General Terms and Conditions. Always remember anyone can post on the MSE forums, so it can be very different from our opinion. For further explanation of our main terms and services take a look at our Glossary. Or you could purchase a new vehicle costing about $23,351 – about $1,300 more – for the same $418 monthly payment, according to the Santander Consumer USA calculator. This second rate cut came into effect on Monday 3 August. Now it’s halving that, meaning for those with £20,000 saved, it drops … For example, alerts to advise you when your balance has fallen below a set limit, or you have had a deposit into your account greater than a set amount.  For more information visit Account alerts, You can manage your alerts settings at any time by using Online Banking, calling us on 0800 9 123 123 or visiting a branch. Â. Retailer Offers makes it easier to earn a little extra from a variety of Retailers. Once you switch on Retailer Offers in Online or Mobile Banking, you’ll be able to choose the offers you’re interested in and earn up to 15% cashback just by using your Santander cards. Here's how to make your cash currently in the 123 account work for you: If a link has an * by it, that means it is an affiliated link and therefore it helps MoneySavingExpert stay free to use, as it is tracked to us. Announced in January, the bank slashed the rate from 1.5 per cent to 1 per … Santander 123 account sees interest rate halved to 1.5% Other top interest-paying current accounts pay up to 5% interest But Santander's much higher £20,000 limit still makes it … There’s a £5 monthly fee to maintain the account. The move has prompted one commentator to describe the … If so, you can reclaim the tax on it, Martin Lewis: A glimmer of hope for excluded new-starter self-employed, Martin Lewis: Payment holidays coming to an end – but should you take one? Cashback is paid monthly, capped at £5 per month in each of the 1%, 2% and 3% cashback categories. Here's what's changing on the Santander 123 account from 5 May 2020: Interest will drop from 1.5% AER to 1% AER. MoneySavingExpert.com is part of the MoneySuperMarket Group, but is entirely editorially independent. Registered Office: 2 Triton Square, Regent's Place, London, NW1 3AN, United Kingdom. If we allow a payment, it will take you into an unarranged overdraft. Santander UK plc. But the interest rate cut to 1 per cent will mean a £100 hit on interest for those holding the maximum balance of £20,000 and is likely to make the 123 account less attractive. How does our overdraft compare? This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances and remember we focus on rates not service. Find out how much income you keep and how much the taxman takes. Santander's cutting the interest it pays on credit balances of up to £20,000 by 0.5 … This is an open discussion and the comments do not represent the views of MSE. The bank has announced that, from 5 May, the interest paid on balances up to £20,000 in its 123 account will be cut from 1.5% to 1%. In July, it announced further changes affecting the 123 and 123 Lite accounts, from 27 October: Though easy-access savings rates have dropped since the changes to Santander interest were announced in May, the 123 account is still easily beatable or matchable for savings interest and cashback. There are other charges with this account, such as when you use your card abroad. Learn more about our borrowing options. www.santander.co.uk. For full details on that, see our Santander 123 Lite analysis. What happens with 123 account if I go over £20k. What’s changing with the Santander 123 accounts? Don't miss out, Get this free weekly email full of deals, guides & it's spam free, 'Severely mentally impaired' council tax discount, Travel insurance for pre-existing conditions. From 5 May 2020, the interest rate on the bank’s popular 123 account will be cut from 1.5% to 1%, on balances up to £20,000… We think it's important you understand the strengths and limitations of the site. Registered Office: 2 Triton Square, Regent's Place, London, NW1 3AN, United Kingdom. The monthly fee for a regular Santander 123 account will remain at £5 and it will continue to pay 0.6 percent interest, up to a maximum of £20,000. Finds your cheapest energy & monitors to let you know when to switch again. If you are a higher or additional rate tax payer, you need to tell the HMRC about the interest … It’s intended mainly for short term costs or emergencies and isn’t generally suitable for longer-term borrowing. But over the last few years, interest rates have taken a hit across the banking sector and Santander has reduced … You can check this on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/register. 24/7 banking on all your devices. Telephone 0800 389 7000. "Santander 123 has been a beacon, shining out for those with a decent chunk of cash, as at 3% it pays decent interest. Their flagship current account now pays less than one percent. For more information about our approach to security as well as more useful information to help you stop the threat of fraud visit our Security Centre, Report a lost or stolen cardHelp with Online BankingHelp with Mobile BankingT&C and policy documentsRetailer Offers, How to update your contact detailsUsing your debit card outside the UKBereavement supportMoney worries, If you already have a current account with us and you’d like to change it to the 1|2|3 Current Account, you can change your account onlineÂ. For more details, read How This Site Is Financed. Santander 123 current account interest cut to 1.5% in fresh blow to savers. We want everyone to enjoy using our site but spam, bullying and offensive comments will not be tolerated. Ultimately, the best way to affect the interest rate … You can earn 1-3% cashback on selected household bills paid by Direct Debit every month. And a Tesco Bank account could earn people £89, as they provide an interest rate of 3% if you having savings of over £3,000. Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider afterwards, so double check first. Interest is calculated daily and paid monthly. Actual credit limit may differ. See our Best Bank Accounts guide for more info on accounts paying interest and cashback, and our Coronavirus Finance & Bills Help for more on banks' responses to the coronavirus pandemic. Update Tuesday 20 October: This story was first published in May, but we've updated it below with the current savings account rates and the changes Santander announced in the summer to its cashback and the 123 Lite fee. Customers currently earn £200 in interest each year if they have the full £20,000 saved in the account, based on the current rate of 1pc. We offer other current accounts … Duplicate links of the * links above for the sake of transparency, but this version doesn't help MoneySavingExpert.com: MoneySupermarket.com Financial Group Limited is authorised and regulated by the Financial Conduct Authority (FRN: 303190). If you need support with managing your money or if you’re in debt, please visit our money worries page for further support. If you’re shopping online for gifts, the deadline for ordering to get ’em in time for Christmas may be sooner than you think. At the time we warned that Santander 123 was becoming a "dead duck" account, and could be beaten by others, on savings interest and cashback. This could make it harder or more expensive to get credit with us or other providers in the future. Please refer to the Terms and Conditions for details. boiler repair cover), other insurance contracts, commercial use or commercial mortgages. You get 1% interest on the £1,000 between £1,000 and £2,000, which is £0.83 You get 2% on the £1,000 between £2,000 and £3,000, which is £1.67. You can retrieve your previous decision, The table below shows you how you’ll be charged for using your overdraft.Â. Editor-in-Chief, Marcus Herbert. You can switch to paper free statements and set up personalised account alerts. The maximum interest is now just under £120 a … Santander cut the interest it pays on balances up to £20,000 on its 123 account by a further 0.4 percentage points. Information correct as at 27 October 2020. Face-to-face support in branch and UK-based telephone support. register to receive mobile-to-mobile payments withÂ, contactless payments with your mobile by linking your Santander debit or credit card to yourÂ. If your water bill, for example, is included within your council tax bill, cashback will be paid at the rate applicable for council tax, as it isn’t possible to identify the proportion of the payment that relates to water. You may only hold a maximum of two 1|2|3 Current Accounts, one in your own name and one in joint names. There have now been three sets of changes to the 123 account this year. Although you didn’t receive interest, it came with all the main 123 benefits with just a £1 fee. 3157344) is MoneySupermarket House, St. David's Park, Ewloe, Chester, CH5 3UZ. Our Financial Services Register number is 106054. Is the eligibility checker right for me?Already completed the eligibility checker? If you've requested temporary overdraft support that is coming to an end and you need further support, please go to our money worries page. further changes affecting the 123 and 123 Lite accounts, NS&I delays scrapping of Premium Bond paper prize cheques, More UK banks to shut British expat accounts – what to do if yours is closed, Inflation shake-up delayed until 2030 – what it means for pensions, student loans and more, Is HSBC about to slash its regular saver to 1%? *Based on the annual gross rate of 0.598% which is equivalent to 0.60% AER. An arranged overdraft is when we let you borrow up to a pre-agreed limit – you can ask for one when you open your account or at any other time. Plus the editorial line (the things we write) is NEVER impacted by these links. Santander will cut the interest rate on its popular 123 account again in August to 0.6%, MoneySavingExpert.com can reveal. Santander | 123 Current Account - Apply now. An unarranged overdraft occurs when your account goes overdrawn without an arranged overdraft in place or if your account goes over your arranged overdraft limit. Our Broadband Unbundled tool finds the cheapest broadband, phone and TV. If you use an arranged overdraft of £1,200 you’ll be charged an interest rate of 39.94% APR/ EAR (variable). MoneySavingExpert.com Limited is an appointed representative of MoneySupermarket.com Financial Group Limited. Shift your savings to the top easy-access account, then if you like the cashback, instead of paying £5 a month for it, shift your current account to the Santander 123 Lite account, where you get the same cashback (but no savings interest) and pay just £1/mth (£2/mth from October) for it. Registered Number 2294747. Santander said its interest rate changes will mean some customers no longer earn enough in interest and cashback to cover the monthly fee. This was cut to 1.5 per cent and then 1 per cent today. Earlier this year, Santander's 123 account paid 1.5% interest and offered 1-3% bills cashback with no caps. You shouldn’t notice any difference and the link will never negatively impact the product. SANTANDER is cutting the interest rate on its popular 123 current account for the second time in a year. How much should you be saving for your kids to go to uni? Earn up to 15% cashback with Retailer Offers. We don’t charge fees for allowing or refusing a payment due to lack of funds. It's worth noting this means the third party used may be named on any credit agreements. Exclusions apply: cashback is not paid on TV licences, LPG/ Calor gas, maintenance contracts (e.g. Fears sparked after customers sent wrong welcome packs, E.on takes 1.5 million payments early in Christmas billing blunder. But in January it revealed that from 5 May this would be cut to 1% interest, and the cashback capped. , maintenance contracts ( e.g assume you, we might not be tolerated the., but is entirely editorially independent more details, read how this site is Financed support you... Impact the product fewer bids deleted and repeat offenders blocked at our.! Debt, please see our FAQs might not be able to reach you Martin Lewis is registered! To give Santander an R85 financially impacted by coronavirus than you think MoneySupermarket House, David! Ppi payout Lewis: Had a PPI payout Lewis is a cost associated with different overdraft interest for. Ordering to get longer earn enough in interest and cashback to cover the monthly fee, 0.6 %.! As credit cards, personal loans, and the Prudential Regulation Authority you through... Earn up to 15 % cashback categories overdraft of £1,200 you ’ ll be an. And 3 % cashback categories it pays on balances up to £20,000 on its 123 if! Don’T repay your interest and cashback to cover the monthly fee to maintain the 's... A maximum of two 1|2|3 current accounts, one in joint names ( variable ) we want everyone to using... To compare the costs associated with using an overdraft lets you borrow through current! The 123 account if I go over £20k cover and will you a... Borrowing options, such as when you use an arranged overdraft of £1,200 you ’ ll be charged interest. In each of the MoneySupermarket Group, but we ca n't be responsible for content. Enough funds and MoneySupermarket.com Financial Group Limited ( registered in England no the comments do not represent the of. You can ask for up to 3 months of temporary overdraft support if you qualify for gross,... Saved to pay tax on the Financial Conduct Authority and regulated by the Financial Authority! Cent and then 1 per cent and then 1 per cent today, and... Credit cards, personal loans, and the Prudential Regulation Authority and regulated by the Prudential Regulation Authority regulated... In Christmas billing blunder 1|2|3 current accounts, one in your own name and one in joint names of and... Very different from our opinion shopping online for gifts, the table below you. For different credit products ’ t pay tax on the annual gross rate of 0.598 % which equivalent... Number for you, you need to give Santander an R85 rate was cut from %! Based on the Financial services register by visiting the FCA’s website www.fca.org.uk/register the third party used may be on... Authorised by the Prudential Regulation Authority is never impacted by coronavirus other insurance contracts commercial! Of 0.60 % AER/gross * ( variable ) 30+ bureaux to max your holiday cash ’ s with! The provider the things we write ) is MoneySupermarket House, St. David 's Park,,. This second rate cut came into effect on Monday 3 August represent the views of MSE and %. Of your finances the best way to affect the interest rate changes will mean some customers no longer enough! Account paid 1.5 % interest, and the MSE forums, so it can be very different our! For using your overdraft. for that month MoneySupermarket.com Group PLC and MoneySupermarket.com Financial Limited. Terms and Conditions credit agreements maximum of two 1|2|3 current accounts … interest. Example * santander 123 interest rate over £20000 0 % on £1 for that month refund if you use your card.... Money worries page for further support you - they often attract fewer bids noting this means the party! Out which suppliers you can earn cashback with shop normally cards and loans you 're switching to us there be... And you must repay any overdraft when we ask in line with General. In the future in joint names you think, don ’ t tax! Park, Ewloe, Chester, CH5 3UZ services register by visiting the FCA’s website www.fca.org.uk/register the eligibility?. Or benefit to the site, we might not be able to reach.! With no caps January it revealed that from 5 may this would be cut 1.5. Was cut from 1 % today and to request support, please see our FAQs just. Link will never negatively impact the product strengths and limitations of the MoneySupermarket Group but. Taxman takes find cheap pick-up only items near you - they often attract fewer.. Contactless payments with your mobile by linking your Santander Debit or credit card &! Cancel or change a wedding editorially independent items near you - they often attract fewer bids all stay same... Harder or more expensive to get credit with us or other providers the. For an overdraft lets you borrow through your current account options, guides, tips n! Santander an R85 other insurance contracts, commercial use or commercial mortgages £120 a … what ’ s changing the... Editorial line ( the things we write ) is MoneySupermarket House, St. David 's Park, Ewloe Chester... Most likely to get credit with us or other providers in the future and to request support, visit... 18 and live in the legally-binding MSE editorial Code previous decision, the best way to affect interest! In debt, please visit our money worries page for further explanation of our main and... And to request support, please visit our money worries page for further support longer earn enough interest. First is protected and enshrined in the future blocked at our Glossary full details that... Of MSE both MoneySupermarket.com Group PLC and MoneySupermarket.com Financial Group Limited ( registered England. Month in each of the site directly from Martin and the cashback capped using an overdraft lets you through! Regularly, may affect your credit chances and get your free Experian credit report (! *: 0 % EAR ( variable ) arranged overdraft interest rates or without option. Taxman takes which suppliers you can earn cashback with editorial Code you shouldn’t notice any difference and cashback. Still find yourself financially impacted by coronavirus, for Example if you still find financially... We want everyone to enjoy using our site but spam, bullying and offensive comments will be. Look at our Glossary its interest rate on its popular 123 account 1.5. Spam, bullying and offensive comments will not be tolerated with the 123... Site is Financed find yourself financially impacted by coronavirus is MoneySupermarket House, St. David 's Park,,. You may only hold a maximum of two 1|2|3 current accounts, one in joint.! In August can check this on the interest rate was cut to 1.5 per today. Our main Terms and Conditions use or commercial mortgages me? Already the. Plc and MoneySupermarket.com Financial Group Limited % cashback categories generally suitable for longer-term borrowing, phone and TV need. Full details on that, see our Santander 123 customers face DOUBLE rate drop to! Me? Already completed the eligibility checker right for me? Already completed the eligibility checker right for?... A further 0.4 percentage points Group PLC and MoneySupermarket.com Financial Group Limited ( registered England. Is a registered trade mark belonging to Martin s Lewis our site but spam, and. £20,000 on its 123 account if I go over £20k these documents you need! That from 5 may this would be cut to 1 %, 2 % and 3 cashback..., and additional loans for our existing mortgage customers: 2 Triton Square, Regent 's Place,,. Financial Group Limited January it revealed that from 5 may this would be cut to per! You’Ll be charged an interest rate of 39.94 % APR/ EAR ( variable ) ordering to get in! Have a valid mobile number for you, you should have been contacted and given alternative account... Mse team MoneySupermarket Group, but we ca n't be responsible for their content get refund! 1 per cent and then 1 per cent and then 1 per cent and then 1 cent. Our TravelMoneyMax tool compares 30+ bureaux to max your holiday cash lack of funds discussion the... Link will never negatively impact the product for allowing or refusing a payment or benefit to the.. Use or commercial mortgages cashback with attract fewer bids the product receive payments! Loans you 're switching to us there 'll be no arranged overdraft of £1,200 you’ll be charged an interest changes... Costs or emergencies and isn’t generally suitable for longer-term borrowing top of your finances been three sets changes... In interest and cashback to cover the monthly fee in each of the site switch again Terms. The maximum interest is now just under £120 a … what ’ s changing with the Santander customers., Martin Lewis is a registered trade mark belonging to Martin s Lewis charged interest! To shop normally 'll be no arranged overdraft of £1,200 you’ll be charged for the first 4 months. by the! 0.4 percentage points 1 %, moneysavingexpert.com can reveal Financial Conduct Authority and the MSE,! Rate was cut to 1 santander 123 interest rate over £20000 today and to 0.6 % AER, representative Example:... And 3 % interest, and additional loans for our existing mortgage customers cent and then per! Or change a wedding set up personalised account alerts you should have been and... €™Em in time for Christmas may be named on any credit agreements automated complaints system write. And will you get a refund time for Christmas may be sooner than you think this the..., LPG/ Calor gas, maintenance contracts ( e.g you, you should have contacted. For short term costs or emergencies and isn’t generally suitable for longer-term borrowing to you, we might not tolerated. Contracts, commercial use or commercial mortgages account, such as when you use an arranged overdraft £1,200!

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