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Santander International Bank: 18 months Fixed Term Deposit

Product overview

Interest rate
3.47% AER Help content for Annual rate
Rate type
Fixed
Term
18 months
Min / max amount
£1,000 - £85,000
Money available
End of term
14 day cooling-off period available
No
Interest added to account
Annually
Deposit guarantee
FSCS protection up to £85,000

Product details

Account name

Santander International Bank: 18 months Fixed Term Deposit

What is the interest rate?

3.47% AER/Gross is the Annual Equivalent Rate and represents what the interest rate would be if interest was realised and paid once each year. Interest is calculated daily, compounded annually and is payable on maturity. Interest will be paid gross without prior deduction of tax.

Can Santander International Bank change the interest rate?

The interest rate applicable to your savings account is fixed once your application is approved and you fund your account. The rate will stay the same throughout the duration of the fixed term. Should the bank amend the rate advertised before you have fully transferred funds and the rate is lower than the rate you originally ordered, we will automatically cancel your order. We will contact you if this occurs.

What would the estimated balance be after 18 months based on a £1000 deposit?

The estimated balance after 18 months on a deposit of £1,000 is £1,052.50. This projection is for illustrative purposes only and does not take into account individual circumstances.

How do I open and manage my account?

To open this savings account, you must apply online through Aviva plc. Savings accounts at Aviva plc are only available through this online application process, and to be eligible to apply, you must ● Be a UK resident who is aged 18 or over ● Hold a UK bank or building society account from which you will fund your application ● Have a valid mobile phone number and email address ● Have a UK National Insurance Number Your application acceptance will be subject to the successful completion of an Anti-Money Laundering/Know Your Customer (AML/KYC) checks. The minimum amount you can deposit is £1000.00 and the maximum amount you can deposit is £85000 (per product and banking institution). Please ensure you have read and understood all sets of Terms and Conditions before applying for this product. You can manage your savings account through Aviva plc by logging into your Aviva plc Account. You can contact Aviva plc by telephone, by email or in writing by using the contact details provided in the Aviva plc Terms and Conditions. Please ensure you have read and understood all sets of Terms and Conditions before applying for this product.

Can I withdraw money?

Because this savings account is a fixed term deposit, withdrawals are not permitted before the maturity date, except in any exceptional circumstances agreed to by Santander International Bank in its absolute discretion. This savings account does NOT operate on the basis that you can end the fixed term of your savings account prematurely and pay a fee to withdraw your funds sooner.

Additional information

Raisin Platforms Limited (RPL) will administer the deposit on your behalf as Bare Trustee in accordance with the Raisin Trust terms and conditions.   Funds will be remitted to Santander International by RPL on the next business day after arriving in the RPL account. It can take up to 2 business days for an ordered product to be set up and start earning interest. Your savings account will not automatically renew at the end of the fixed term for a further fixed term. Please ensure you have read and understood all sets of Terms and Conditions before applying for this product.

Deposit guarantee

The FSCS is the United Kingdom's statutory deposit guarantee scheme that covers deposits in individual savings accounts up to £85,000, per banking group regulated by the Financial Conduct Authority or the Prudential Regulation Authority. It is available for deposits with most UK high-street and online banks and means if the bank fails, and deposits become unavailable, the scheme may cover your deposit account deposit up to the £85,000 per person, per banking group limit. Compensation limits are per person per firm, not per deposit. Be aware that if you have other deposits with this bank (or banking group) then the £85,000 protection applies only to eligible deposits up to this limit.

About Santander International Bank

Santander International is the trading name of Santander Financial Services plc, a non-ring fenced wholly owned subsidiary bank of Santander UK Group Holdings plc which is part of the Banco Santander Group. Santander Financial Services plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our UK saving products are protected by the Financial Services Compensation Scheme.

About Aviva Save

Aviva works with partner companies to provide Aviva Save.

Raisin UK

We've teamed up with Raisin UK to offer you Aviva Save. Raisin UK is a subsidiary of Raisin SE which provides savings marketplaces to over 1,000,000 customers across 30+ countries.

ClearBank Ltd

Your Aviva Save transaction account is provided by ClearBank, who look after money transfers from your current account to Aviva Save.

ClearBank provides the Aviva Save transaction account that manages transactions with your own bank.

Interest rates

  • When we show the interest rate as an AER, it stands for Annual Equivalent Rate
  • This is what the interest rate would be if it was paid once a year
  • It helps you compare different accounts, by showing you how much you would earn on your savings if the accounts were held for the same amount of time
  • The rates offered by our bank partners can change at any time
  • When you apply you'll get the rate that's in effect at the point your account is set up, so it's important to transfer money into Aviva Save as soon as possible after you apply