NatWest’s Digital Regular Saver offers customers the chance to earn 6.17 percent / six percent AER/Gross p.a. (variable) interest on their first £5,000.
Savers can deposit between £1 and £150 per month, with free anytime instant access to their savings.
Any amount over this limit may be automatically moved to their current account.
If they repeatedly try to pay more than £150 each month into the account, they will be given 60 days’ notice to close the account.
Their Digital Regular Saver rewards people for saving regularly by giving a better interest rate (up to £5,000) if they do.
People can top up their savings with Round Ups (which won’t count toward the £150 monthly limit).
If someone pays for something with their debit card or contactless device for £2.30, NatWest will round it up to the nearest pound and send this to their savings account – in this case 70p.
If someone deposited £150 every month, for 12 months, they would have saved a total of £1,800.
On top of this, they would earn £59.83 in interest so their total balance including this would be £1,859.83.
As the cost of living crisis continues, any extra cash could be vital for families on low incomes.
To open an account, savers must be a UK resident, aged 16 years or over and a NatWest current account holder.
By switching to NatWest and opening a current account, Britons could get an extra £200 free cash.
Savers can apply online or via their mobile app to switch a current account held elsewhere into a NatWest account from February 14, 2023, to receive their offer of £200.