Santander launched a variety of ISA products to help savers get "greater returns". Consumers may be thinking about which ISA accounts are worth considering as the end of the tax season approaches.
Santander's new ISA line includes:
eISA (Issue 18 - 3.2 percent AER/tax free (variable).
One Year Fixed Rate - 4.15 Percent AER/tax-free (fixed).
18-month Fixed Rate ISA: 4.25 percent AER/tax free (fixed)
Two-year Fixed Rate ISA - 4.20 Percent AER/tax-free (fixed)
These products offer amongst the highest interest rates available.
It is important to note that they may come with additional restrictions such as penalties for early access and transfers.
Andrea Melville (managing director of retail finance at Santander UK), commented on the range. "An ISA allows customers to save for the future tax-free. With the new tax year approaching we have increased our ISA rates so that our customers get greater returns.
Customers can also take advantage of our spring voucher offer to treat themselves.
The ISA allowance for 2022/23 is £20,000 and deposits can be made up until April 5, 2023.
The tax year will begin again on April 6. After that, the £20,000 ISA allowance will start again. However, savers are encouraged to take advantage of this allowance as soon as possible.
Existing and new customers who transfer an ISA worth at least £10,000 from another provider into a Santander Fixed-Rate ISA will be eligible for £50 cashback as e-vouchers that can be used at more than 100 outlets including supermarkets, clothing stores, restaurants and subscription services.