Santander Consumer: 5.00% promotional rate

Summer brings new promotions also for Santander Consumer Bank, that is offering to its customer a special 5.00% interest rate on sums deposited after 28th of february. This is an unusual backdating for a promotion, but it has the advantage to avoid an excessively narrow time window for customers to take advantage of it.

Santander’s offering has a peculiarity: the promotional rate is applied only in months where there are no withdrawals. In the moths when you draw money from the saving account, the standard 3.75% is applied. The same rate is applied only to the sum that exceed 50.000 euro, that is the maximum sum on which is applied the promotional rate.

In my opinion this look quite an interesting promotion for Santander customers, especially for the ones that use the account as an “accumulation” account, that should be a quite natural use for a saving account.

Anyway, even if maybe there are more profitable promotions from other banks, we have to acknowledge that Santander keep paying attention to who is already the customers. In other cases, unfortunately, the acquired customers seems to be quite ignored, with banks that seem to be more interested in conquering new customers, than to keep old ones.

Italian translation of this post: Santander Consumer: promozione al 5,00%

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