Santander has unveiled a new savings account paying 8 per cent interest – but the headline rate doesn’t tell the whole story.
The bank has launched a new regular saver paying a market-leading 8 per cent and paired it with a £180 switching bonus for customers willing to move their current account using the current account switching service (CASS).
At a time when the best easy-access accounts are paying closer to 4 to 5 per cent, the deal is likely to grab plenty of attention from savers looking to make their money work harder.
But while the offer is undoubtedly one of the strongest on the market, experts say consumers should look beyond the headline figure before rushing to sign up.
The best rate on the market
