Santander has slashed the interest rate on its Help to Buy ISA from 4% down to 2% for new customers. The change comes just weeks after Halifax reduced its interest rates in a similar fashion.
Santander 123 and Santander Select customers are able to access a slightly higher interest rate of 2.5% when they open a Help to Buy ISA with the same bank.
If you haven’t yet got a Help to Buy ISA but you’ve been thinking of getting one, I’d strongly recommend opening one as soon as possible. You never know, other providers may drop their rates too!
At the time of writing this post, the best Help to Buy ISAs on the market are:
- Virgin Money – 3%
- Barclays – 2.27%
- Halifax – 2.5%
- Nationwide – 2%
- Aldermore – 2%
- Santander – 2%
Some local banks such as Penrith BS offer higher interest rates but in many cases these are only available to those living locally.
To read more about the Help to Buy ISA take a look at these posts:
Help to Buy ISA or Lifetime ISA; Which is Best?
Why You Should Get The Help To Buy ISA Even If You Don’t Know Where You’ll Be In 5 Years
