Variable Rate Deposit Product Factsheet
Effective from 12 April 2026
These accounts are subject to availability and may be withdrawn from sale at any time. We’ll provide you with the required notice period, as applicable, for withdrawal of Notice Accounts.
These Specific Terms and Conditions apply in addition to our General Terms and Conditions. Where there are differences, it’s these Specific Terms and Conditions that apply.
Sterling accounts
| What is the interest rate? |
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| What would the estimated balance be after 12 months based on a £50,000 deposit? |
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Euro accounts
| What is the interest rate? |
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| What would the estimated balance be after 12 months based on a €50,000 deposit? |
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US dollar accounts
| What is the interest rate? |
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| What would the estimated balance be after 12 months based on a $50,000 deposit? |
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Additional Information
| How do I open and manage my account? |
Call Account | Notice Account |
| Your account relationship is held via your Deposit Platform provider. We will only accept monies deposited by the Provider on your behalf and will only ever return monies via the Provider. You will not hold a direct account in your name with ourselves. |
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| Can I withdraw money? | Yes, withdrawals of cleared funds are permitted, and can be made at any time up to the available amount, via your Deposit Platform provider. | Notice accounts withdrawals are subject to providing the required notice period. You continue to earn interest in the account up to the date of withdrawal. Withdrawals can be made via your Deposit Platform provider. |
| Can Santander change the interest rate? |
Yes, these are variable rates which are subject to upwards or downwards movement. If we make a change to the interest rates, we’ll give you written notice of any reduction in rates at the earliest opportunity. In the case of a Notice Account, we’ll increase the period of notice we give you prior to changing the rate to cover a 14 day cancellation period plus the notice period required by your account. This will ensure that if you are unhappy with the change and wish to close your account, you will have sufficient time to exercise your rights to close the account under the applicable notice provisions of your account (without loss of interest). | |
| Tax status | Interest will be paid gross (without deduction of taxes) on monies held on your behalf by the Deposit Platform provider. |
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| Cancellation period | A 14-day cancellation period applies. If within 14 days of first opening your account, you would like to cancel it, you can let us know by contacting your Deposit Platform provider. In the case of a Notice account, notice will not be required if cancelled during the cancellation period. We will return all available funds (excluding any accrued interest) within 30 days from the day you tell your Provider that you want to cancel the account. |
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Financial Services Compensation Scheme (FSCS) Information Sheet
Basic information about the protection of your eligible deposits
| Eligible deposits in Santander Financial Services plc are protected by: | the Financial Service Compensation Scheme (‘FSCS’)1 |
| Limit of protection: | £120,000 per depositor per bank2 The following trading names are part of your bank: Santander International |
| If you have more eligible deposits at the same bank: | All your eligible deposits at the same bank are ‘aggregated’ and the total is subject to the limit of £120,0002 |
| If you have a joint account with other person(s): | The limit of £120,000 applies to each depositor separately3 |
| Reimbursement period in case of bank failure: | 20 working days4 |
| Currency of reimbursement: | Pound sterling (GBP, £) |
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To contact Santander International for enquiries relating to your account: |
Tel: 08000 84 28 88 or +44(0)1624 641 888 |
| To contact the FSCS for further information on compensation: | Financial Services Compensation Scheme 10th Floor, Beaufort House, 15 St Botolph Street, London EC3A 7QU Tel: 0800 678 1100 or 020 7741 4100 Email: ICT@fscs.org.uk |
| More information: | http://www.fscs.org.uk |
Additional information
1 Scheme responsible for the protection of your eligible deposit
Your eligible deposit is covered by a statutory Deposit Guarantee Scheme. If insolvency of your bank, building society or credit union should occur, your eligible deposits would be repaid up to £120,000 by the Deposit Guarantee Scheme.
2 General limit of protection
If a covered deposit is unavailable because a bank, building society or credit union is unable to meet its financial obligations, depositors are repaid by a Deposit Guarantee Scheme. This repayment covers at maximum £120,000 per bank, building society or credit union.
This means that all eligible deposits at the same bank, building society or credit union are added up in order to determine the coverage level. If, for instance, a depositor holds a savings account with £100,000 and a current account with £50,000, he or she will only be repaid £120,000.
This method will also be applied if a bank, building society or credit union operates under different trading names. Santander Financial Services plc also trades under Santander International. This means that all eligible deposits with one or more of these trading names are in total covered up to £120,000.
In some cases eligible deposits which are categorised as ‘temporary high balances’ are protected above £120,000 for six months after the amount has been credited or from the moment when such eligible deposits become legally transferable. These are eligible deposits connected with certain events including:
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- certain transactions relating to the depositor’s current or prospective only or main residence or dwelling;
- a death, or the depositor’s marriage or civil partnership, divorce, retirement, dismissal, redundancy or invalidity;
- the payment to the depositor of insurance benefits or compensation for criminal injuries or wrongful conviction.
More information can be obtained under http://www.fscs.org.uk
3 Limit of protection for joint accounts
In case of joint accounts, the limit of £120,000 applies to each depositor.
However, eligible deposits in an account to which two or more persons are entitled as members of a business partnership, association or grouping of a similar nature, without legal personality, are aggregated and treated as if made by a single depositor for the purpose of calculating the limit of £120,000.
4 Reimbursement
The responsible Deposit Guarantee Scheme is the Financial Services Compensation Scheme, 10th Floor Beaufort House, 15 St Botolph Street, London EC3A 7QU, Tel: 0800 678 1100 or 020 7741 4100, Email: ICT@fscs.org.uk. It will repay your eligible deposits (up to £120,000) within 20 working days until 31 December 2018; within 15 working days from 1 January 2019 until 31 December 2020; within 10 working days from 1 January 2021 to 31 December 2023; and within 7 working days from 1 January 2024 onwards, save where specific exceptions apply.
Where the FSCS cannot make the repayable amount available within 7 working days, it will, from 1 June 2016 until 31 December 2023, ensure that you have access to an appropriate amount of your covered deposits to cover the cost of living (in the case of a depositor which is an individual) or to cover necessary business expenses or operating costs (in the case of a depositor which is not an individual or a large company) within 5 working days of a request.
If you have not been repaid within these deadlines, you should contact the Deposit Guarantee Scheme since the time to claim reimbursement may be barred after a certain time limit. Further information can be obtained under http://www.fscs.org.uk.
Other important information
In general, all retail depositors and businesses are covered by Deposit Guarantee Schemes. Exceptions for certain deposits are stated on the website of the responsible Deposit Guarantee Scheme. Your bank, building society or credit union will also inform you of any exclusions from protection which may apply. If deposits are eligible, the bank, building society or credit union shall also confirm this on the statement of account.
FSCS Exclusions List
A deposit is excluded from protection if:
- The holder and any beneficial owner of the deposit have never been identified in accordance with money laundering requirements. For further information, contact your bank, building society or credit union.
- The deposit arises out of transactions in connection with which there has been a criminal conviction for money laundering.
- It is a deposit made by a depositor which is one of the following:
- credit institution
- financial institution
- investment firm
- insurance undertaking
- reinsurance undertaking
- collective investment undertaking
- pension or retirement fund1
- public authority, other than a small local authority.
- It is a deposit of a credit union to which the credit union itself is entitled.
- It is a deposit which can only be proven by a financial instrument2 (unless it is a savings product which is evidenced by a certificate of deposit made out to a named person and which existed in the UK, Gibraltar or a Member State of the EU on 2 July 2014).
- It is a deposit of a collective investment scheme which qualifies as a small company.3
- It is a deposit of an overseas financial services institution which qualifies as a small company.4
- It is a deposit of certain regulated firms (investment firms, insurance undertakings and reinsurance undertakings) which qualify as a small business or a small company5 – refer to the FSCS for further information on this category.
- It is not held by an establishment of a bank, building society or credit union in the UK or, in the case of a bank or building society incorporated in the UK, it is not held by an establishment in Gibraltar.
For further information about exclusions, refer to the FSCS website at www.FSCS.org.uk
1 Deposits by personal pension schemes, stakeholder pension schemes and occupational pension schemes of micro, small and medium sized enterprises are not excluded
2 As listed in Part I of Schedule 2 to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, read with Part 2 of that Schedule
3 Under the Companies Act 1985 or Companies Act 2006
4 See footnote 3
5 See footnote 3
Santander International is the trading name of Santander Financial Services plc.
Santander Financial Services plc is incorporated in England and Wales with number 2338548 and its registered office is 2 Triton Square, Regent’s Place, London NW1 3AN, United Kingdom. www.santanderinternational.co.uk Santander Financial Services plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Santander Financial Services plc’s Financial Services Register number is 146003. You can check this on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/register.
All accounts opened with Santander Financial Services plc have situs in the UK and are therefore covered by the Financial Services Compensation Scheme established under the UK Financial Services and Markets Act 2000. The FSCS protects customers including individuals, companies and small local authorities for up to £120,000 across accounts with us. This amount is for each customer, meaning two individual customers with a joint account have protection of £240,000. Full details of the Scheme and banking groups covered are available on the FSCS website www.fscs.org.uk.
Santander and the flame logo are registered trademarks. Calls to Santander International are recorded and may be monitored for security and training purposes.