Maximise your potential wealth
Get started with a Prosper account by entering your email address below. You’ll be the first to hear about our latest investing and saving offers.
When you invest your capital is at risk.
185 Day Notice Tracker
Maximise your potential wealth
Get started with a Prosper account by entering your email address below. You’ll be the first to hear about our latest investing and saving offers.
When you invest your capital is at risk.
185 Day Notice Tracker
Prosper is available through an app
How it works
Open your Prosper holding account
Fund your holding account
Choose the cash savings account you want
Product summary
4.95% Gross / 5.08% AER* interest will be paid by Santander International monthly at the end of each month into your 185 Day Notice Tracker account and compounded.
Yes, the interest rate can change at any time.
The rate of interest payable on the Santander International 185 Day Notice Tracker is a variable rate of interest which tracks the Bank of England Base Rate. If the Base Rate changes, then the interest rate payable on the account will update the next working day after the Bank of England's announcement.
If Santander International decreases the margin tracking against the Bank of England Base Rate, holders of this account will be notified at least 199 days before the change.
At current interest rates:
A deposit of £1,000.00 would earn £50.80 after 12 months, for a final balance of £1,050.80
A deposit of £5,000.00 would earn £254.00 after 12 months, for a final balance of £5,254.00
These are illustrative examples and are not based on your individual circumstances.
Prosper have partnered with Akoni to bring you this product. Akoni handles all the account opening on your behalf. As long as you have the minimum deposit amount of £20,000.00 available to deposit, you simply instruct Akoni via your cash dashboard. Once you have confirmed this step Akoni will instruct the deposit with Santander International and transfer the funds from your Hub account. The maximum balance you can instruct for this savings account is £250,000.00. If you have not already done so you will be asked to complete a digital application. This will only be required the first time you place a deposit via any of the banks Akoni works with.
To access and manage this account, including withdrawals and placing of additional funds, you must do this via the Akoni dashboard or by calling our customer service team. It is not possible to manage this account via Santander International's online banking or via their customer channels even if you are an existing customer.
Yes, withdrawal requests can be made at any time after opening the account. However, you will not receive your funds until the end of the specified notice period.
Additionally, it's vital to consider that:
- Full withdrawals can only be executed if there are no pending deposits.
- Deposits are not allowed if there is a pending full withdrawal.
There are no charges or penalties for withdrawing your money in line with the notice period requirements on the account.
The information provided in this summary box is a summary of the key features of this product.
*AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once a year.
*Interest will be paid gross. Gross interest does not take into account any tax payable.
Depending on your individual circumstances, you might have to pay tax on any interest you earn. If you have any specific tax questions you should seek professional tax advice.
Alternatively, further guidance can be found on the HMRC website, for further information please go to: https://www.gov.uk/apply-tax-free-interest-on-savings. Please note that your tax treatment may be subject to change in the future.
Deposit Guarantee protection
The deposits placed with the bank or building society via Akoni, as a Deposit Aggregator, are covered by the Financial Services Compensation Scheme, which is the UK’s deposit guarantee scheme. This means your eligible deposits are protected up to a total of £85,000 per authorised entity. If your total deposits within the same institution are above that limit, they are unlikely to be covered i.e. if you have money in multiple accounts with the same bank or with banks that are part of the same banking group (and share a banking license) the FSCS treat them as one bank. This means the FSCS compensation limit of £85,000 applies to the total amount you hold across all these accounts, not each separate account.
FSCS protections are limited to “Eligible Claimants” as per the FCA definitions. For more information, please visit https://www.fscs.org.uk or watch “How FSCS protects your money”.
Please also note that the FSCS will pay these claims as soon as possible, and always within three months, in the event that the bank or building society fails. More information on this can be found at https://www.fscs.org.uk/what-we-cover/banks-building-societies/.
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Frequently asked questions
- Who are Prosper and what do we do?
We're building a digital-first wealth management platform that offers transparent, fair and low-cost access to a broad range of investment accounts, such as:
- Self-invested personal pensions (SIPPs)
- Individual savings accounts (ISAs)
- General investment accounts (GIAs)
- Cash savings accounts
Our members will enjoy zero or low annual costs on investment products from a wide selection of established and well-known asset managers. From Vanguard, the low-cost leader’s ETFs, to ready-made portfolios from Blackrock, the world’s largest asset manager, Prosper caters for a broad range of investing experience and preferences.
We’re a community of smart investors on a mission to maximise potential returns and minimise fees. Prosper exists to grow our members’ wealth so they can get more of the life they want.
Our board, advisory and senior management are a highly experienced, multi-disciplinary team, with a proven track record of building some significant financial services firms such as: Embark, now part of Lloyds Bank, Tandem Bank, Peel Hunt, Capital One and Worldfirst, now part of Ant Group.
- Do I pay a fee?
No, you don’t pay a fee to open a Prosper Cash Savings account. The banks we partner with pay us a commission for bringing them new customers. Don’t worry, we’ve done the maths for you. The amount you see on our platform is the actual rate you’ll get.
- How long does it take to open an account?
Opening an account is easy and only takes a few minutes online. All you’ll need is your passport or driver’s license, National Insurance number, and bank details.
- What’s a savings platform and how does it work?
A savings platform acts as a centralised marketplace where you can access a variety of savings accounts from different banks and financial institutions. You can compare, open, and manage accounts all in one place, simplifying the saving process and maximising your potential earnings.
- Who is Akoni?
Prosper partners with Akoni to provide access to a range of savings accounts via our banking partners. Akoni Hub Limited is authorised and regulated by the Financial Conduct Authority. Akoni cash savings accounts are only available to manage and open via their dedicated website and not through the Prosper app. Read more about Akoni here.
Key benefits
Maximise your savings by planning ahead
Obtain competitive interest rates when you give notice to withdraw money.
FSCS protection up to £85,000
Eligible deposits are protected by the FSCS up to £85,000 per bank.
Start saving from £20,000
The minimum deposit amount is £20,000, and you can save up to £250,000.
How it works
1.
Open your Prosper holding account
Your holding account with Prosper powered by Akoni lets you open as many cash savings accounts as you like through a variety of banks.
Your holding account with Prosper lets you open as many cash savings accounts as you like through a variety of banks.
2.
Fund your holding account
You can now add funds to your holding account via open banking or by manually sharing your bank details.
Your money is protected under safeguarding.
You can now add funds to your holding account via open banking or by manually sharing your bank details.
Your money is protected under the FSCS.
3.
Choose the cash savings account you want
From the range of accounts on offer you can fund the one you want.
Your money is now protected by the bank you choose to deposit with.
Product Summary
Account name
185 Day Notice Tracker
What is the interest rate?
4.95% Gross / 5.08% AER* interest will be paid by Santander International monthly at the end of each month into your 185 Day Notice Tracker account and compounded.
Yes, the interest rate can change at any time.
The rate of interest payable on the Santander International 185 Day Notice Tracker is a variable rate of interest which tracks the Bank of England Base Rate. If the Base Rate changes, then the interest rate payable on the account will update the next working day after the Bank of England's announcement.
If Santander International decreases the margin tracking against the Bank of England Base Rate, holders of this account will be notified at least 199 days before the change.
What would the estimated balance be after 12 months based on a £1,000 deposit?
At current interest rates:
A deposit of £1,000.00 would earn £50.80 after 12 months, for a final balance of £1,050.80
A deposit of £5,000.00 would earn £254.00 after 12 months, for a final balance of £5,254.00
These are illustrative examples and are not based on your individual circumstances.
How do I open and manage my account?
Prosper have partnered with Akoni to bring you this product. Akoni handles all the account opening on your behalf. As long as you have the minimum deposit amount of £20,000.00 available to deposit, you simply instruct Akoni via your cash dashboard. Once you have confirmed this step Akoni will instruct the deposit with Santander International and transfer the funds from your Hub account. The maximum balance you can instruct for this savings account is £250,000.00. If you have not already done so you will be asked to complete a digital application. This will only be required the first time you place a deposit via any of the banks Akoni works with.
To access and manage this account, including withdrawals and placing of additional funds, you must do this via the Akoni dashboard or by calling our customer service team. It is not possible to manage this account via Santander International's online banking or via their customer channels even if you are an existing customer.
Can I withdraw money?
Yes, withdrawal requests can be made at any time after opening the account. However, you will not receive your funds until the end of the specified notice period.
Additionally, it's vital to consider that:
- Full withdrawals can only be executed if there are no pending deposits.
- Deposits are not allowed if there is a pending full withdrawal.
There are no charges or penalties for withdrawing your money in line with the notice period requirements on the account.
Additional information
The information provided in this summary box is a summary of the key features of this product.
*AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once a year.
*Interest will be paid gross. Gross interest does not take into account any tax payable.
Depending on your individual circumstances, you might have to pay tax on any interest you earn. If you have any specific tax questions you should seek professional tax advice.
Alternatively, further guidance can be found on the HMRC website, for further information please go to: https://www.gov.uk/apply-tax-free-interest-on-savings. Please note that your tax treatment may be subject to change in the future.
Deposit Guarantee protection
The deposits placed with the bank or building society via Akoni, as a Deposit Aggregator, are covered by the Financial Services Compensation Scheme, which is the UK’s deposit guarantee scheme. This means your eligible deposits are protected up to a total of £85,000 per authorised entity. If your total deposits within the same institution are above that limit, they are unlikely to be covered i.e. if you have money in multiple accounts with the same bank or with banks that are part of the same banking group (and share a banking license) the FSCS treat them as one bank. This means the FSCS compensation limit of £85,000 applies to the total amount you hold across all these accounts, not each separate account.
FSCS protections are limited to “Eligible Claimants” as per the FCA definitions. For more information, please visit https://www.fscs.org.uk or watch “How FSCS protects your money”.
Please also note that the FSCS will pay these claims as soon as possible, and always within three months, in the event that the bank or building society fails. More information on this can be found at https://www.fscs.org.uk/what-we-cover/banks-building-societies/.
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AER stands for Annual Equivalent Rate. It tells you how much interest you'd get if the interest was added to your savings once a year.
Frequently asked questions
- Who are Prosper and what do we do?
We're building a digital-first wealth management platform that offers transparent, fair and low-cost access to a broad range of investment accounts, such as:
- Self-invested personal pensions (SIPPs)
- Individual savings accounts (ISAs)
- General investment accounts (GIAs)
- Cash savings accounts
Our members will enjoy zero or low annual costs on investment products from a wide selection of established and well-known asset managers. From Vanguard, the low-cost leader’s ETFs, to ready-made portfolios from Blackrock, the world’s largest asset manager, Prosper caters for a broad range of investing experience and preferences.
We’re a community of smart investors on a mission to maximise potential returns and minimise fees. Prosper exists to grow our members’ wealth so they can get more of the life they want.
Our board, advisory and senior management are a highly experienced, multi-disciplinary team, with a proven track record of building some significant financial services firms such as: Embark, now part of Lloyds Bank, Tandem Bank, Peel Hunt, Capital One and Worldfirst, now part of Ant Group.
- Do I pay a fee?
No, you don’t pay a fee to open a Prosper Savings account. The banks we partner with pay us a commission for bringing them new customers. Don’t worry, we’ve done the maths for you. The amount you see on our platform is the actual rate you’ll get.
- How long does it take to open an account?
Opening an account is easy and only takes a few minutes online. All you’ll need is your passport or driver’s license and bank details.
- What’s a savings platform and how does it work?
A savings platform acts as a centralised marketplace where you can access a variety of savings accounts from different banks and financial institutions. You can compare, open, and manage accounts all in one place, simplifying the saving process and maximising your potential earnings.