Santander will pay £215 to customers on this date

Banking giant tells customers how they can make extra cash

Santander has told customers they can get hundreds of pounds if they join one of its new accounts. Its three savings accounts come with generous interest rates and there is money to be made for savers who move their cash over.

ISA options are fixed for either one year, 18 months or two years. The one-year fixed comes with a 4.31% interest rate.

This would mean someone putting £5,000 into the account and leaving it there would get £215 12 months from when they opened the account. Those who are able to put more savings in would earn even more in interest, showing how there is money to be made.

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Those who are able to move £10,000 from another bank can get a £50 shopping voucher, which can be spent in over 100 shops. Santander said: "The new range of ISA products, which can be opened online or in branch, are:

• 1-year Fixed-Rate ISA - 4.31% AER/ tax-free (fixed)
• 18-month Fixed-Rate ISA - 3.91% AER/ tax-free (fixed)
• 2-year Fixed-Rate ISA - 3.81% AER/ tax-free (fixed)

"The bank is also offering £50 cashback as an e-voucher to customers who transfer an ISA of at least £10,000 from another provider into a Santander Fixed Rate ISA. The voucher can be spent at over 100 outlets, including restaurants, supermarkets and clothes stores.

"Customers will receive their code to redeem their voucher automatically by email within 14 days of the completed transfer. Santander is part of the industry ISA transfer scheme and has dedicated teams in place to process customers’ ISA transfer requests, making it quick and easy for customers to transfer an ISA from another provider to Santander."