Savings rates are beginning to creep up again after the Bank of England increased interest rates by 0.25 percentage points in May and June.
Currently, Santander’s 123 Regular e-Saver offers an attractive rate of 2.5 percent interest but this is only for the first 12 months.
At the end of the 12 month period, savers will have a maximum balance of £2,400 a year plus £48 in interest.
To qualify for this interest rate, customers only need £1 to open an account.
