NatWest is a well-known provider on Britain’s high streets, however, many people have become ambivalent to savings recently. This is due to the fact interest rates have been abysmally low, with little opportunity for a decent return. However, for NatWest’s customers, there could be a chance to build on one’s saving habit, and even get excited about returns once again.
The bank is offering an attractive rate through one of its accounts which is likely to entice savers looking to boost their cash.
The Digital Regular Saver is one of the leading accounts on offer at present, with a solid three percent interest rate.
The interest rate is available on balances up to £1,000 saved, making it an attractive option for those getting started on their savings journey.
Over £1,000, however, the interest rate will drop to a more common 0.01 percent offer.
The account must be paid into on a regular basis, as its name suggests, and this can be done through a standing order.
Savers will be able to pay in between £1 and £50 each month when the account is opened.
The standing order can be adjusted, or topped up to suit a person’s needs, but they must be aware of the £50 monthly limit each month.
If a person repeatedly tries to pay in more than £50 each month, they will be given 60 days’ notice to close the account.
To open the account, a person will need to provide their email address and mobile number so important documents can be sent across.
A person will only be allowed to have one Digital Regular Saver, and it must be in their name.
NatWest confirms joint accounts will not be allowed, something couples in particular should be aware of.