Santander Bank: Savings Account & Rates
Mission: Banksparency aims to make Santander Bank's savings account transparent and comparable to the market.
Savings Overview
Santander Savings
| Min. Deposit | $25 |
| Min. Balance | $0 |
| Maintenance Fee | $1 |
Market Reality Check
This bank offers rates below the current top tier. The best rates we track are currently above 4.25% APY.
Also see affiliated bank: Openbank
View productsBank Overview
- HQ LocationBoston, Massachusetts
- Founded1902
- Ratings & Trust
- Deposit InsuranceFDIC Insured(Cert: 29950)
Our Take on Santander Bank
The Good
- Low opening deposit ($25)
- Highly rated mobile apps (iOS: 4.8, Android: 4.0)
- Access to physical branches
Considerations
- Monthly maintenance fee of $1
- Yield is below current market leaders
Santander Bank offers the Santander Savings account with an APY of 0.01%. There are no promotional rates, tiered interest, or checking account requirements associated with this product. The account has a low opening deposit of $25 and provides access to highly rated mobile apps (iOS: 4.8, Android: 4.0) and physical branches. However, it does come with a monthly maintenance fee of $1, and the yield is below current market leaders.
Stop Losing Interest
Santander Bank is trailing the market leaders.
Savings Account: In-Depth View
Savings Account Offered by Santander Bank
| Feature | Santander Savings |
|---|---|
APY | 0.01%Verified: 12/10/2025 |
APY Trend | Rate Adjusted -0.02% Since 90 days ago |
Min. Deposit | $25 |
Min. Balance | $0 |
Monthly Fee | $1 |
Direct Deposit | None |
Checking Bundle | No |
Branch Access | Yes |
Compounding | Daily |
FDIC Insured | Yes |
Eligibility | United States |
| Next Steps | - |
Calculate Savings for Santander Bank
Savings Breakdown
- Interest Earned+$3.70(0.0%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$14,003.70
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Santander Bank Savings Rates Over Time
Historical APY Insights
Last 11 Months| Metric | Santander Savings |
|---|---|
Latest APY | 0.01% |
Trend | Sideways |
Slope (bps/mo) | -0.2 |
Rate Changes / Mo | 0.09 |
Days Since Last Change | 82 |
High (-11m) | 0.03% |
Low (-11m) | 0.01% |
Draw-down | -66.7% |
Volatility (CV) | 0.384 |
How to read these metrics▼
Trends & Velocity
- Trend
- The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
- Slope (bps/mo)
- Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
- Rate Changes / Mo
- "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.
Risk & Range
- High/Low
- The absolute ceiling and floor of the rate during the 322-day window.
- Volatility Score
- Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
- Days Since Change
- If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.
Why track this? Understanding volatility helps you avoid "bait-and-switch" rates. A steady, rising slope is ideal; high volatility often signals a temporary teaser rate.
Compare with Santander Bank
| Feature | Current View Santander Bank | Empty Slot |
|---|---|---|
| Product | Santander Savings | - |
APY | 0.01%Verified: 12/10/2025 | - |
APY Trend | Rate Adjusted -0.02% Since 90 days ago | - |
| Min. Deposit | $25 | - |
| Monthly Fee | $1 | - |
Direct Deposit | No | - |
Checking Bundle | No | - |
| Branch Access | Yes | - |
| Eligibility | United States | - |
Compounding | Daily | - |
FDIC Insured | Yes | - |
| Next Steps | - | - |
Bank-to-Bank Comparisons
Compare Santander Bank's APY of 0.01% with other banks
Alternatives to Santander Bank
Banks with Higher/Similar Savings APY
For a top list of the highest savings rates, see all HYSA top rates
Live Oak Bank
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Betterment
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Amalgamated Bank
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