Overview
- Santander has launched fixed‑rate cash ISAs paying 4.5% AER across one‑, two‑, three‑ and five‑year terms, with the bank promoting the one‑year deal as a leading high‑street rate.
- Customers who transfer at least £10,000 from a non‑Santander ISA get an e‑voucher, with tiers of £50 for £10,000–£24,999.99, £100 for £25,000–£49,999.99, £200 for £50,000–£99,999.99, and £400 for £100,000 or more.
- Santander says voucher codes arrive by email within 30 days of a completed transfer and can be spent with more than 250 retailers, though the offer can be withdrawn at any time.
- Early access to a fixed‑rate Santander ISA usually means closing the account and paying a charge equal to 120 days’ interest.
- The launch lands in a hot ISA market with a £20,000 tax‑free allowance this year, and coverage flags a rule from April 2027 that will cap cash ISA contributions at £12,000 for savers under 65.