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Until now, the account has paid 3% interest on balances of up to £20,000, making it one of the best deals on the high street.
Both end the practice of charging interest on balances already paid.
Take Alliance & Leicester's branch Isa, which pays just 0.1% interest on balances up to £40,000 and 0.5% above that.
As of 1 November they will receive a flat 1.5% interest on balances up to £20,000.
Only the fee will change – the cashback rates will remain the same, as will the interest on balances.
The Santander deal has proved attractive as it allows savers to earn up to 3 per cent interest on balances of up to £20,000.
Similar(23)
The new Halifax and Lloyds Bank cards each offer 0% interest on balance transfers for 34 months.
Credit-card companies often offer six months' free interest on balance transfers.
LLoyds Bank Platinum credit card is offering 0% interest on balance transfers for 24 months and a balance transfer fee refund which takes the fee down to 1.5%.
Sainsbury's is offering 0% interest on balance transfer for 37 months, with a three-month interest-free period on purchases and a 2.89% fee.
This special Discover More offer is for 0% interest on balance transfers for 18 months.
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