Money: Martin Lewis gives advice to 75-year-old on savings
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Santander UK has confirmed the eSaver Limited Edition will be withdrawn today. It leaves Britons with just hours to benefit from this offer if they wish to secure this account.
The bank stated it is withdrawing the product following “unprecedented demand”.
Existing customers will be able to apply until 23:59 on October 17, 2022.
However, the bank has also stated a new competitive offer is set to be launched from tomorrow.
Issue 2 of the eSaver Limited Edition will pay two percent gross, at a variable rate for 12 months.
Interest is paid on balances up to £250,000 on this account, providing ample opportunity for savings growth.
This rate will be available until November 1, 2022, however, it could be withdrawn earlier depending on the demand.
Any applications received by 23:59 on October 17 will receive eSaver Limited Edition (Issue 1) rate once opened.
Applications will then be processed in the following days.
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There are, however, eligibility criteria which individuals should be aware of on the eSaver.
Individuals must first be a UK resident – and this account can be held in single or in joint names.
They will also need to be aged 16 or over to open the eSaver.
Finally, they must be signed up or going to sign up for Online or Mobile Banking.
Opening an eSaver account is designed to be a simple process, which can be achieved in numerous ways.
This can be done online, via mobile, or by visiting any Santander branch.
Accounts can be opened with a minimum payment of £1, which means it should be open to as many savers as possible.
Deposits can be made at any time via standing order, one-off payments or online transfers.
Individuals can only have one eSaver Limited Edition per customer.
Withdrawals can be made from this account at any time by transfer to another account in Online and Mobile Banking.
If a saver changes their mind, they can cancel the account within 14 days of opening.
Their money will be returned in full with interest.
Santander is offering a wide range of accounts for savers, including:
• Easy Access ISA (eISA) – 2.00 percent AER/tax-free (variable)
• 1 Year Fixed Rate ISA – 3.70 percent AER/ tax-free (fixed)
• 18 Month Fixed Rate ISA – 4.00 percent AER/ tax-free (fixed)
• 2 Year Fixed Rate ISA – 4.20 percent AER/ tax-free (fixed)
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