Santander’s new savings account will get you 8% interest - here’s what you need to know (opens original article in a new tab)

Santander has launched a regular saver account with 8% interest for one year, requiring a Santander current account and allowing up to £200 monthly deposits. Other banks offer lower rates, and the account reverts to 3% interest after the first year. The bank also provides a £180 cash switch bonus for new customers.

• Santander offers a regular saver account with 8% interest for one year, then reverts to 3%
• Maximum monthly deposit is £200, with £2,400 total after one year plus £104 interest
• Other banks offer lower rates, such as Zopa at 7.1% and first direct at 7%
• Santander also provides a £180 cash switch bonus for new account holders