Easy Access

Santander First Home Saver Review

One of the best-paying easy access accounts, from Santander. It ranks 30th of 152 easy access accounts we track.

Variable rate

4.00%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£1

Max balance

£2,000,000

Access

Limited (higher rate in calendar months with 2 or fewer withdrawals)

Interest paid

Monthly

Santander is also paying £240 to switch your current account. Offer ends 7 October 2026.

See the switch offer

Rate Tiers

Up to 2 withdrawals/month

4.00%AER

3+ withdrawals/month

1.00%AER

How It Stacks Up

Ranks 30th of 152

Easy access accounts we track

Among the best
This account 4.00%
UK CPI (Aug 2026)
3.10%
Pays 0.90% more
Average easy access
2.83%
Pays 1.17% more
Best easy access
5.00%
Pays 1.00% less

Inflation: ONS. Averages and best rates: accounts on DepositScout.

Compare easy access

A Good Fit For

  • Pro: New and existing savers
  • Pro: Savers who want a monthly income

Worth Weighing Up

  • Con: The rate is variable, so it can go down

Please verify all details with the provider – see our Disclaimer

See all Santander accounts

Estimated returns with Santander's Easy Access

What you could earn with Santander's First Home Saver.

Estimated interest

£1,000 saved

£81.60

At 4% AER

£5,000 saved

£408

At 4% AER

£10,000 saved

£816

At 4% AER

£2,000,000 saved

£163,200

At 4% AER

Estimated over the 24-month term, if the rate stays the same and interest is left in. Amounts outside the account's minimum or maximum aren't shown.

Work out the tax on your interestSee how much of this interest could be taxed.

Our Expert Opinion on Santander First Home Saver

Jan WatermannCo-Founder, DepositScout

This account is aimed squarely at first-time buyers saving over a 24-month term, and the 4.00% rate does at least beat CPI inflation of 3.1% by 0.90%. That said, 4.00% sits below the easy access market average, and the market leader is paying 5.00%, so you are giving up 1.00% for the first-home branding. The bigger catch is the withdrawal penalty: make three or more withdrawals in a calendar month and the rate collapses to 1.00%, so this only works if you treat it as near-locked savings. At the end of the 24 months it converts to an Everyday Saver, so watch that rollover carefully.

2 alternatives to Santander's First Home Saver

Same type of account, closest on rate.

Common questions about the First Home Saver

D

DepositScout Alerts

2 minutes ago

Easy Access rate just dropped

A top provider just cut their rate. Here's what you need to know about the latest market shift.

Nationwide FlexSaver Rate Down
4.20% AER
4.75%
View Best Rates
Live Market Tracking

Be the first to know when this Santander rate drops.

Join 1,000+ savers using DepositScout who get instant email alerts when top UK savings rates change. Never miss out on a better deal again.

Takes 30 seconds · No spam · Unsubscribe any time