EC, yes £1,000 for standard rate tax payers, £500 for higher rate taxpayers, and nil for anyone who had income over £150k.
For those on lowish income, they might be able to make use of the 0% rate band on interest up to £5,000 and that's in addition to the £1,000. Those exclude interest from ISAs which can be ignored for tax purposes. Retired people are the most likely to benefit. Someone with pension income of £11,000 and interest income of £6,000 would pay no tax - the pension income is covered by their personal allowance, they get the £1,000 savings personal allowance, and the full £5,000 0% band on the rest of their interest. People with non-savings income higher than the personal allowance, the excess reduces the 0% band so that is of no benefit to people with higher income.