Santander UK has today (Monday 4 September) launched a ‘top of market’ easy access account, the Easy Access Saver Limited Edition (Issue 3), which pays 5.20% AER/ 5.08% gross (variable) on savings up to £250,000 for 12 months.

Customers with £5,000 deposited in the account will typically earn £21.66 in interest every month and £260 annually.

The Easy Access Saver Limited Edition (Issue 3) lets customers deposit as often as they like, as well as withdrawing their funds without any fees or restrictions.

Customers do not need other accounts with Santander to be able to open the new account which can be opened online, in app, over the phone, or in branch.

Any Santander customer with an existing Easy Access Saver can also open an Easy Access Saver Limited Edition (Issue 3) account and benefit from the higher rate.

The account is available from now until 17th September, but may be withdrawn sooner if there is high demand.

Santander has also today increased the rates on its fixed term ISA products. The one year fixed ISA now pays 5.05% AER/gross and the two year fixed ISA pays 5.10% AER/gross.

Andrea Melville, Director of Current Accounts, Savings and Business Banking, Santander said: “We’re pleased to deliver this top of market product for our customers, providing the convenience of an easy access account, to help build up their savings. We know now more than ever people want their money to go further and this account is one of the ways we are helping customers maximise their savings income.”