Full product details for the Santander 16 - 18 Account current account, including account details, application criteria, facilities, rates, overdraft, fee & charges, incentives, student & graduate incentives and business accounts.
from 166 ratings
166 customers rated their Santander current account as 3.5 out of 5 in our 2010/2011 Consumer Finance Awards.
Santander requires a monthly credit to qualify for the interest rate however there is no minimum required. No interest is paid on the whole balance if the required monthly credits are not made.
Interest Free Overdraft Limit
none
There is no interest free overdraft limit.
Headline Interest Rate
3%
The headline interest rate is 3.00% AER
Reward Payment
£0
No reward payment payable.
Minimum Investment
£1
The minimum investment required to open this account is £1.
Internet Banking
yes
24 hour free internet banking is available.
Branch Banking
yes
This account can be operated through a branch.
Telephone Banking
yes
An automated telephone banking service is available 24 hours a day 365 days a year and calls are charged at a local rate.
Account Promotions
yes
Sweep Facility - To make savings easy the customer can set up their accounts so that, on their chosen date each month, any surplus cash above a certain amount chosen by them,is automatically transferred into an Abbey savings account, for example a Direct Saver. The sweep facility will never make the account overdrawn. The customer can also choose not to use the sweep facility in certain months.
Application Criteria
Permanent UK Resident
yes
This product is only available to individuals who are permanent UK residents.
Minimum Monthly Credit
£0
Santander requires a monthly credit to qualify for the interest rate however there is no minimum required. No interest is paid on the whole balance if the required monthly credits are not made.
Minimum Contract Term
0 months
Not applicable.
Minimum Age
16 years
The minimum age for investors is 16 years old.
Maximum Age
18 years
The maximum age for investors is 18 years. When the customer reaches age 18, the account will be upgraded to a standard Santander Current Account.
Minimum Income
£0
No minimum income required.
Minimum Investment
£1
The minimum investment required to open this account is £1.
Maximum Investment
£2,000,000
The maximum investment allowed on this account is £2000000.
Student Bank Account
no
This is not a student bank account.
Graduate Bank Account
no
This is not a graduate bank account.
Area Restrictions
none
There are no area restrictions.
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