NatWest offers ‘tempting’ 3% interest rate plus chance to save more money each month

World News

Emily Ramsey partners with NatWest to encourage saving

We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

Natwest’s Digital Regular Saver account previously allowed savers to put away between £1 and £50 each month. However, from today customers can save up to £150 and still benefit from a cracking three percent interest rate.

The exact amount can be adjusted at any point but the maximum customers can save every month is £150.

On its website, NatWest said: “That’s not the only change.

“We’ve added a new interest rate for balances over £1,000, so you can save up to £5,000 at a higher rate.”

The changes could be good news for savers who feel they have had a rough deal lately.

While the Bank of England increased interest rates, not all banks followed suit.

Martin Lewis issues warning to every household earning under £30,000 [WARNING]
‘It’s a joke!’ State pensioners demand reversal of triple lock freeze [INSIGHT]
Nationwide interest rate rise – ‘one of highest’ rates on high street [UPDATE]

What are the new NatWest savings rates?

  • Earn three percent interest on the first £1,000,
  • 0.25 percent on balances from £1,001 to £5,000
  • Earn 0.01 percent on any amount over £5,000 in your account.

Another attractive feature is that customers can withdraw their money from their Digital Regular Saver account at any time.

This means it could double up as a savings account and somewhere to keep an emergency fund safe while gaining some interest.

To help people start a healthy savings habit, NatWest has a Savings Goal Tool and a Round Up tool within its banking app.

It confirmed that any money saved with the Round Up tool will not count towards a customer’s monthly limit.

What is happening where you live? Find out by adding your postcode or visit InYourArea

Meanwhile, experts have shared some advice for things to consider when switching savings accounts.

Britons may wish to consider:

Interest rates
Tax free incentives offered by an ISA
Notice period for withdrawing funds
How interest is paid – daily, monthly or annually
Minimum deposits on the account.

Source: Read Full Article