Santander UK offers 8% regular saver account

Santander UK has launched a new regular savings account paying a headline interest rate of 8%, the highest currently available in the market. The account became available on Tuesday, June 23, 2026, and is open to all Santander current account customers, including those with its fee-free Everyday account.

The 8% Annual Equivalent Rate (AER) includes a 5% variable bonus that lasts for the first 12 months. After that introductory period, the rate will drop to a variable 3%. Customers can deposit up to £200 per month, with a minimum balance of £1, and can make unlimited withdrawals without penalty. The account is limited to one per customer.

Financial experts note that while the headline rate is eye-catching, the structure of a regular saver means the total interest earned is limited. Because customers can only deposit a maximum of £200 monthly, the total saved over a year is £2,400, which would generate approximately £104 in interest at the 8% rate. Analysts caution that savers with a lump sum might earn more by placing the entire amount in an instant-access account paying a lower rate, such as 4.5%, for the full year.

Rachel Springall, a finance expert at Moneyfactscompare.co.uk,...