Features & benefits
Variable rate regular savings Sterling account for 16 to 21-year-olds
Earn £100 cashback if no withdrawals are made
Save a minimum of £25, up to a maximum of £500, per month for 12 months
Fund the account with a standing order from a Gold Account
Interest will be calculated daily and paid at the end of the term, tracking the Bank of England Base Rate
At the end of the 12 months we’ll transfer your balance into your Gold Account
Withdrawals are allowed as long as you maintain the minimum account balance of £1
Available for Channel Island and Isle of Man residents only
Key information
- You will need to be aged between 16 and 21 years at the time of account opening
- Only one account per individual can be opened
- You will need to open a Gold Account and set up a standing order into the Regular Savings Tracker Account
- Information about the documents that we require to open a bank account can be found here
- A minimum of £25 and a maximum of £500 can be paid into the Regular Savings Tracker Account each month for a period of 12 months
- To qualify for the £100 cashback no withdrawals can be made during the term of the account
- At the end of the 12 months your capital, interest and cashback (if applicable) will be paid into your Gold Account
- Cheque books or debit cards are not available
- Standing orders or Direct Debits are not permitted
- Please refer to the Regular Savings Tracker Account - Young Savers (Issue 1) - Key Facts Document
Interest rates
Island Regular Savings Tracker Account - Young Savers - Issue 1
Effective 19 December 2025
The interest rate is a variable interest rate which tracks the Bank of England Base Rate. The interest rate will update the next working day after a change to Base Rate.
| Minimum/Maximum balance to earn interest rate | Link to UK Bank of England Base Rate | Gross rate p.a. (variable) Interest paid annually | Annual Equivalent Rate (AER) (variable) |
| £1 - £6,000 | Equal to Base | 3.75% | 3.75% |
| £6,001 + | 0.00% | 0.00% | 0.00% |
If you save £250 per month for the whole 12 months, you will get back the original amount you put in plus £61.18 in interest, assuming there was no change to the current interest rate during the 12 months and no withdrawals are made. This illustration is only an example and does not take into account your individual circumstances.
AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year. The gross rate is the rate payable where interest is paid without the deduction of tax.
Ways to apply
In branch
Online
Post
Phone
In branch
Jersey
Santander Work Café
13-15 Charing Cross
St Helier,
Jersey
JE2 3RP
Channel Islands
View on Google Maps
Isle of Man
Santander Work Café
Market Hall,
North Quay
Douglas,
Isle of Man,
IM1 2BQ
View on Google Maps
Phone
Call us on 08000 84 28 88, if calling from a UK landline or mobile, or +44 (0) 1624 641 888, if calling from overseas
Lines are open 9am – 5pm UK time, Monday to Friday (except Wednesday when we open at 9.30am)
Our other products
Frequently asked questions
What is the Regular Savings Tracker Account for Young Savers?
The Regular Savings Tracker Account for Young Savers is a 12 month savings account for customers aged 16–21. It offers a variable interest rate linked to the Bank of England Base Rate.
How much can I save each month with the Regular Savings Tracker Account for Young Savers, and is there a maximum balance limit?
You can save between £25 and £500 per month by setting up a standing order from your Gold Account. The maximum monthly deposit is £500, so your total balance after 12 months cannot exceed £6,000, plus any interest and cashback earned.
Is there a cashback incentive for the Regular Savings Tracker Account for Young Savers and how do I earn it?
If no withdrawals are made during the 12 month term of the account, you will earn £100 cashback which will be paid into your Gold Account at the end of the 12 month term.
What happens at the end of the savings term for the Regular Savings Tracker Account for Young Savers?
At the end of the savings term, the capital, interest and cashback (if eligible) will be automatically transferred into your Gold Account.
What is the interest rate on the Regular Savings Tracker Account for Young Savers, how is it calculated and can Santander International change the interest rate?
The interest rate tracks the Bank of England Base Rate. Interest is calculated daily and paid at the end of the 12 month term. If the Base Rate changes, your rate updates the next working day.
Can I make withdrawals during the 12 month term of the Regular Savings Tracker Account for Young Savers?
Withdrawals are permitted as long as the account maintains a minimum balance of £1. However, you will not be eligible for the cashback if you make withdrawals at any time during the term of the account. You can make payments out of your account using Mobile Banking, Online Banking or Telephone Banking.
What is the eligibility criteria for the Regular Savings Tracker Account for Young Savers?
The Regular Savings Tracker Account for Young Savers is only available to applicants aged between 16 and 21 years old. Date of birth will be checked at account opening. Applicants who turn 22 years of age during the term of the account will still be eligible.
How do I pay money into the account?
You will need to set up a monthly standing order amount from your Gold Account into the Regular Savings Tracker Account for Young Savers. New customers will need to open a Gold Account before opening the Regular Savings Tracker Account for Young Savers.
What charges apply to the Regular Savings Tracker Account for Young Savers?
The Regular Savings Tracker Account for Young Savers does not have any associated charges. However, some charges may apply for other services. Please view our Charges leaflet for full details
Charges for Banking and Savings Accounts
