- Interest rate dropping to 1.5% on Santander’s 123 account on Tuesday
- Other popular high-interest rate accounts seeing rates cut early next year
The first big hit for savers using high-interest current accounts to bolster the meagre returns on their standard savings accounts arrives tomorrow.
Savers with a Santander 123 current account will see their interest rate cut from up to 3 per cent to a flat rate of 1.5 per cent on Tuesday.
Earlier this year, the Spanish-based bank upped the fee for for its 123 current account from £2 to £5 a month.
Cuts: The interest rate for Santander’s 123 current account is dropping to 1.5 per cent
In January, Lloyds Bank is also cutting its Club Lloyds current account rate from 4 per cent to 2 per…