Santander Bank
Last Updated: 6/20/2025
Note: Interest rates below are reported as APY, or Annual Percentage YieldQuick Views
Santander Savings: 0.03% APY(Rank 85 out of 87 savings accounts)
Minimum Deposit: $25
National Savings Interest Rate: 0.42% (as of 5/19/2025)
Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.
(Source: FDIC)Bank Overview
Location: Boston, Massachusetts
Founded: 1902
Affiliation: Santander Bank is a subsidiary of the Spanish Santander Group (BMAD: SAN). Formerly known as Soverigen Bank.
Access to Branches: Primarily in the Northeast and Miami, Florida
BBB Rating: A+ (Not BBB Accredited)
App Store Rating: 4.7/5
Google Play Rating: 4.3/5
Website: Visit Santander Bank
Our Take on Santander Bank
Highlights
- Current APY of 0.03%, unchanged from 30 days ago
- A+ BBB rating indicating trustworthiness
- App Store rating of 4.7
- Google Play rating of 4.3
Considerations
- Maintenance fee of $1 on Santander Savings account
- Not BBB Accredited despite A+ rating
- Limited branch locations primarily in Northeast and Miami
- No higher APY accounts available
Summary: Santander Bank offers a savings account with a 0.03% APY, consistent over the last month. It has an A+ BBB rating, though it's not accredited. Users may face a $1 maintenance fee, and branch access is limited mainly to the Northeast and Miami. Ratings on the App Store and Google Play are solid at 4.7 and 4.3, respectively, indicating a generally positive user experience.
Savings Account
Savings Account Offered by Santander Bank
| Feature | Santander Savings |
|---|---|
| APY | 0.03% (as of 6/20/2025) |
| APY Trend | Stable for the last month |
| Minimum Deposit | $25 |
| Minimum Balance for APY | $0 |
| FDIC-insured | Yes |
| Online Only | No |
| Bundled Account | No |
| Direct Deposit Required | No |
| Compound Frequency | Daily |
| Maintenance Fee | $1 |
| Eligibility | United States |
No deposit agreement summary available for this bank. | |
Calculate Savings for Santander Bank
All calculations are based on APY.
Santander Savings (APY: 0.03%)
Deposit Frequency:
Total savings breakdown:
- Interest earned: $0 (0.00%)
- Total contributions: $0 (0.00%)
- Initial deposit: $100 (100.00%)
Your total balance
$100.00
Effective APY: 0.03% (based on your deposit and contributions)
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
| Metric | Santander Savings |
|---|---|
| Latest APY | 0.03 % |
| Trend | Sideways |
| Slope (bps/mo) | -0.0 |
| Rate Changes / Mo | 0.00 |
| Days Since Last Change | 151 |
| High (-5 m) | 0.03 % |
| Low (-5 m) | 0.03 % |
| Draw-down from High | 0.0 % |
| Volatility (CV) | 0.000 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 5 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-5 m)
- Highest APY in the last 151 days.
- Low (-5 m)
- Lowest APY in the last 151 days.
- Draw-down from High
- How far today sits below the 5-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
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| Feature | Santander Bank | Select a bank... |
|---|---|---|
| Product | Santander Savings | N/A |
| APY | 0.03% (as of 6/20/2025) | N/A |
| Bundled Account | No | N/A |
| FDIC-insured | Yes | N/A |
| Online Only | No | N/A |
| Compound Frequency | Daily | N/A |
| Minimum Deposit | $25 | N/A |
| Minimum Balance for APY | $0 | N/A |
| Maintenance Fee | $1 | N/A |
| Direct Deposit Required | No | N/A |