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Santander student account interest rate? How much? Watch

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    Hello everyone,


    I need a little advise on Santander account. Basically I opened their 1|2|3 Student Bank Account before university so I could get the free railcard and keep some of my money away from my main bank account with another bank. However, I am a little bit confused on the interest rates. Here's the table from their website and the line of text below it.
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    This is the bit that I don't understand. Does that mean I get 3.00% AER/2.96% gross only for the £2000 in my balance? What about the other money then if I have more than that? What happens with the interest rate?

    Thank you so much in advance!
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    (Original post by daryZ)
    Hello everyone,


    I need a little advise on Santander account. Basically I opened their 1|2|3 Student Bank Account before university so I could get the free railcard and keep some of my money away from my main bank account with another bank. However, I am a little bit confused on the interest rates. Here's the table from their website and the line of text below it.
    Name:  Capture.PNG
Views: 93
Size:  8.0 KB

    This is the bit that I don't understand. Does that mean I get 3.00% AER/2.96% gross only for the £2000 in my balance? What about the other money then if I have more than that? What happens with the interest rate?

    Thank you so much in advance!
    It means you only get interest for up to 2k no matter how much cash you have in there, so you get nothing for any money over that.
 
 
 
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