NatWest Savings Accounts

NatWest Savings Accounts

Compare Saving Accounts

Savings Offer – 1 Year Fixed Rate

Earn 2% AER Fixed Interest

  • Provider – Ford Money
  • Minimum deposit – £500
  • Interest paid monthly or annually
  • Unlimited deposits in first 14 days
  • Easy online account management

Ford Money 1 Year Rate »

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Account
Ford Money Flexible Saver Account
Interest Rate
1.42%
Gross/AER
Term
Instant Access
Minimum Deposit
£1
Account
RCI Bank Freedom Savings Account
Interest Rate
1.42%
Gross/AER
Term
Instant Access
Minimum Deposit
£100
Account
Ford Money 1 Year Fixed Rate Bond
Interest Rate
2.00%
Gross/AER
Term
1 Year
Minimum Deposit
£500
Account
Ford Money 2 Year Fixed Rate Bond
Interest Rate
2.22%
Gross/AER
Term
2 Years
Minimum Deposit
£500
Account
RCI Bank 3 Year Fixed Rate Bond
Interest Rate
2.36%
Gross/AER
Term
3 Years
Minimum Deposit
£1,000
Account
Aldermore Bank 4 Year Fixed Rate Bond
Interest Rate
2.10%
Gross/AER
Term
4 Years
Minimum Deposit
£1,000
Account
Aldermore Bank 5 Year Fixed Rate Bond
Interest Rate
2.25%
Gross/AER
Term
5 Years
Minimum Deposit
£1,000
Plan Name

IDAD The Callable Deposit Plan 

Potential Return
8% pa
or 3 x Index growth
Term
Maximum 6 years
ISA Option

Deposit Taker: Goldman Sachs International Bank

Important Information: This is a structured deposit plan and is capital protected. There is a risk that the company backing the plan or any company associated with the plan may be unable to repay your initial investment and any returns stated. In this event you may be entitled to compensation from the  Financial Services Compensation Scheme (FSCS), depending on your individual circumstances. In addition, you may not get back the full amount of your initial investment if the plan is not held for the full term.

Plan Name

Investec FTSE 100 6 Year Deposit Plan

Maximum Potential Return
45%
at end of term
Term
6 years
ISA Option

Deposit Taker: Investec Bank plc

Important Information: This is a structured deposit plan and is capital protected. There is a risk that the company backing the plan or any company associated with the plan may be unable to repay your initial investment and any returns stated. In this event you may be entitled to compensation from the  Financial Services Compensation Scheme (FSCS), depending on your individual circumstances. In addition, you may not get back the full amount of your initial investment if the plan is not held for the full term.

Account
Ford Money Flexible Saver Account
Interest Rate
1.42%
Gross/AER
Term
Instant Access
Minimum Deposit
£1
Account
RCI Bank Freedom Savings Account
Interest Rate
1.42%
Gross/AER
Term
Instant Access
Minimum Deposit
£100
Account
Aldermore Easy Access Account
Interest Rate
1.25%
Gross/AER
Term
Instant Access
Minimum Deposit
£1,000
Account
Wyelands Bank 6 Month Fixed Rate Bond
Interest Rate
1.60%
Gross/AER
Term
6 Months
Minimum Deposit
£5,000
Account
Ford Money 1 Year Fixed Rate Bond
Interest Rate
2.00%
Gross/AER
Term
1 Year
Minimum Deposit
£500
Account
Ford Money 2 Year Fixed Rate Bond
Interest Rate
2.22%
Gross/AER
Term
2 Years
Minimum Deposit
£500
Account
RCI Bank 3 Year Fixed Rate Bond
Interest Rate
2.36%
Gross/AER
Term
3 Years
Minimum Deposit
£1,000
Account
Axis Bank 5 Year Fixed Rate Bond
Interest Rate
2.35%
Gross/AER
Term
5 Years
Minimum Deposit
£1,000
Account
Ford Money Flexible Cash ISA
Interest Rate
1.27%
Gross/AER
Term
Instant Access
Minimum Deposit
£1
Account
Aldermore Bank 30 Day Notice Cash ISA
Interest Rate
1.30%
Gross/AER
Term
30 Day Notice
Minimum Deposit
£1,000
Account
Aldermore Bank 1 Year Cash ISA
Interest Rate
1.70%
Gross/AER
Term
1 Year
Minimum Deposit
£1,000
Account
Aldermore Bank 2 Year Cash ISA
Interest Rate
1.85%
Gross/AER
Term
2 Years
Minimum Deposit
£1,000
Account
Aldermore Bank 3 Year Cash ISA
Interest Rate
1.95%
Gross/AER
Term
3 Years
Minimum Deposit
£1,000
Account
Nationwide FlexDirect Current Account
Interest Rate
5.00%
AER fixed on balanced up to £2,500
Funding Required
£1,000 per month
Overdraft rate
0% for 12 months
Account
Nationwide FlexPlus Current Account
Interest Rate
3.00%
AER fixed on balanced up to £2,500
Funding Required
No minimum
Overdraft rate
0% for first £250
Account
Santander 1|2|3 Current Account
Interest Rate
1.50%
AER fixed on balances up to £20,000
Funding Required
£500 per month
Overdraft rate
Up to £3 per day
Plan Name

IDAD The Callable Deposit Plan 

Potential Return
8% pa
or 3 x Index growth
Term
Maximum 6 years
ISA Option

Deposit Taker: Goldman Sachs International Bank

Important Information: This is a structured deposit plan and is capital protected. There is a risk that the company backing the plan or any company associated with the plan may be unable to repay your initial investment and any returns stated. In this event you may be entitled to compensation from the  Financial Services Compensation Scheme (FSCS), depending on your individual circumstances. In addition, you may not get back the full amount of your initial investment if the plan is not held for the full term.

Plan Name

Investec FTSE 100 6 Year Deposit Plan

Maximum Potential Return
45%
at end of term
Term
6 years
ISA Option

Deposit Taker: Investec Bank plc

Important Information: This is a structured deposit plan and is capital protected. There is a risk that the company backing the plan or any company associated with the plan may be unable to repay your initial investment and any returns stated. In this event you may be entitled to compensation from the  Financial Services Compensation Scheme (FSCS), depending on your individual circumstances. In addition, you may not get back the full amount of your initial investment if the plan is not held for the full term.

Plan Name

Investec FTSE 100 6 Year Defensive Deposit Plan

Maximum Potential Return
25%
at end of term
Term
6 years
ISA Option

Deposit Taker: Investec Bank plc

Important Information: This is a structured deposit plan and is capital protected. There is a risk that the company backing the plan or any company associated with the plan may be unable to repay your initial investment and any returns stated. In this event you may be entitled to compensation from the  Financial Services Compensation Scheme (FSCS), depending on your individual circumstances. In addition, you may not get back the full amount of your initial investment if the plan is not held for the full term.

Plan Name

Investec FTSE 100 3 Year Deposit Plan

Maximum Potential Return
15%
at end of term
Term
3 years
ISA Option

Deposit Taker: Investec Bank plc

Important Information: This is a structured deposit plan and is capital protected. There is a risk that the company backing the plan or any company associated with the plan may be unable to repay your initial investment and any returns stated. In this event you may be entitled to compensation from the  Financial Services Compensation Scheme (FSCS), depending on your individual circumstances. In addition, you may not get back the full amount of your initial investment if the plan is not held for the full term.

Plan Name

Investec FTSE 100 3 Year Defensive Deposit Plan

Maximum Potential Return
11%
at end of term
Term
3 years
ISA Option

Deposit Taker: Investec Bank plc

Important Information: This is a structured deposit plan and is capital protected. There is a risk that the company backing the plan or any company associated with the plan may be unable to repay your initial investment and any returns stated. In this event you may be entitled to compensation from the  Financial Services Compensation Scheme (FSCS), depending on your individual circumstances. In addition, you may not get back the full amount of your initial investment if the plan is not held for the full term.

Plan Name

Investec FTSE 100 Defensive Kick Out Deposit Plan

Maximum Potential Return
4.50%
per annum
Term
Up to 6 years
ISA Option

Deposit Taker: Investec Bank plc

Important Information: This is a structured deposit plan and is capital protected. There is a risk that the company backing the plan or any company associated with the plan may be unable to repay your initial investment and any returns stated. In this event you may be entitled to compensation from the  Financial Services Compensation Scheme (FSCS), depending on your individual circumstances. In addition, you may not get back the full amount of your initial investment if the plan is not held for the full term.

Plan Name

Investec FTSE Income Deposit Plan

Potential Annual Income
3.50%
per annum
Term
6 years
ISA Option

Deposit Taker: Investec Bank plc

Important Information: This is a structured deposit plan and is capital protected. There is a risk that the company backing the plan or any company associated with the plan may be unable to repay your initial investment and any returns stated. In this event you may be entitled to compensation from the  Financial Services Compensation Scheme (FSCS), depending on your individual circumstances. In addition, you may not get back the full amount of your initial investment if the plan is not held for the full term.

Plan Name

Investec FTSE 100 Kick Out Deposit Plan

Maximum Potential Return
6.0%
per annum
Term
Up to 6 years
ISA Option

Deposit Taker: Investec Bank plc

Important Information: This is a structured deposit plan and is capital protected. There is a risk that the company backing the plan or any company associated with the plan may be unable to repay your initial investment and any returns stated. In this event you may be entitled to compensation from the  Financial Services Compensation Scheme (FSCS), depending on your individual circumstances. In addition, you may not get back the full amount of your initial investment if the plan is not held for the full term.

NatWest Savings Accounts

NatWest offer a range of savings accounts to help you to make the most of your money. See below to compare the latest savings accounts, or to compare rates from other leading providers.

As part of their service NatWest offer a savings hub to help you work out how much you can afford to save. Their budget calculator helps you get into the habit of putting a small amount away for special events such as holidays and luxury purchases.

Choosing a NatWest savings account

Savings accounts available from Natwest include a range of different options so it is important to compare the types of account on offer to find the savings plan that suits you. Some of the types of NatWest savings account on offer include:

  • NatWest Instant Access Savings Accounts – Instant access savings accounts can be useful for people who do not want to lock their money away as they allow you to access funds in a hurry. Natwest offers a Instant Saver account which you can open with just a minimum deposit of £1 with 24/7 access to your money. To benefit from this account you need to be an existing NatWest current account holder. The account was awarded the 5 star Fairbanking mark. Interest rates are tiered with rates ranging from 0.20% to 0.35% AER (variable). Interest is calculated daily. You can access this account from age 16 and you will need an email address and mobile number to open the account. The account takes about 5 minutes to open. If you have £25,000 or more to deposit, then you could consider the Premium Saver Account which offers higher rates of interest with a bonus paid after 12 months.
  • NatWest Fixed Rate Savings Accounts – Fixed rate savings accounts can offer a higher return in exchange for locking your cash away for a set period. Natwest offers fixed rate bonds ranging in duration from  one to two years which gives savers peace of mind of what your savings will earn in advance. Rates range from 1% to 1.25% annual equivalent rate (AER). Interest is paid on the first business day of every month and on the maturity date. As the interest rate is fixed it cannot be changed. Your balance at the start of the fixed term must be £500. You can withdraw money with this type of savings account but you will need to close your account by giving 35 days notice to your branch. There will be an early closure charge for doing so. This is the lower of the amount of interest earned on your account or 90 days interest.
  • NatWest Tax Free Savings Accounts – Natwest offer 3 types of Cash ISA for UK savers. The Cash ISA account is a instant access tax free savings account which you can open with £1 and provides 24/7 access. Their Fixed Rate ISA is available for 1 or 2 years providing a higher level of interest but with no withdrawals or deposits allowed during the term. Finally the NatWest Help to Buy ISA provides a bonus of up to £3,000 from the UK government towards your a new home. Provides a competitive interest rate for first time buyers while saving towards your first home. NatWest provide a helpful help to buy ISA calculator on their website which shows what you could earn by saving a set amount each month.
  • NatWest Savings Accounts for Children – NatWest First Saver offers a specialist savings account that is designed to help children get into the savings habit from £1. Their First Saver Account is an instant access account for youngsters under the age of 16. The account can he held in their name if aged 7 or older and at the time of writing NatWest are giving away a free piggybank & access to Pigby’s savings tips to get your kids into the saving habit. The interest on this account is variable. NatWest also offer a stocks and shares ISA which allows up to £4,128 (2018/19) to be invested in stocks and shares and can be converted to an adult ISA when they reach age 18. With this type of ISA the value may go down as well as up.

There are a number of NatWest savings accounts to choose from and you are protected up to a total of £85,000, by the FSCS (Financial Services Compensation Scheme).

Before signing up to any savings account please read the small print so you know exactly what you are signing up for. To learn more about Natwest Bank savings accounts and how they match up to other leading deals, see the comparison tables.

Other ways of saving money with NatWest

NatWest offer a range of current accounts that are designed with a number of attractive features.

Everyday bank account

A simple account that offers:

  • Easy to use mobile banking app
  • Contactless Visa debit Card
  • No monthly fee
  • If you switch you will be eligible for a £125 (conditions apply)

Reward bank accounts

Offer customers 2% back in rewards on eligible household bills paid by direct debit mandate.

There are 3 types of account:

  • Reward – 1% back in rewards at Natwest partner retailers. To benefit you will need to pay at least £1,500 into your account each month. There is a £2 monthly fee. If you switch you will be eligible for a £125 (conditions apply)
  • Reward Silver – You get mobile phone insurance. European travel insurance. Great discounts on eating out. There is a £10 monthly fee. If you switch you will be eligible for a £125 (conditions apply)
  • Reward Platinum – Benefit from mobile phone insurance, worldwide travel insurance and UK breakdown cover. There is a £20 monthly fee. If you switch you will be eligible for a £125 (conditions apply).

To benefit from these offers you must be 18 and a UK resident. To earn rewards you will need to have online access.

Nationwide FlexDirect Account

Earn 5% AER Fixed Interest

  • On balances up to £2,500
  • Interest paid for first 12 months
  • No account fees
  • Easy online account management

Nationwide FlexDirect Account »

Investec FTSE 100 6 Year Deposit Plan

45% - Maximum Potential Return

  • 6 Year Term
  • Capital Protected
  • Alternative To Medium/Long Term Fixed Rate Bonds
More Details »

When trying to save money for the future, there are several options open to cash savers. Options include instant access savings accounts, easy access savings accounts, notice savings accounts, fixed rate bonds and structured deposit plans.

With interest rates at the time of writing at all time lows many savers are looking for a range of best saving plans. For savers who are prepared to tie up capital for a year or more typically higher rates of interest are available from savings providers.

A fixed rate bond is a way of gaining a fixed rate of higher interest on your savings for a fixed period of time, typically between one and five years. Generally speaking the longer your savings can be locked away, the higher the interest rate you can get on your money. Some providers offer fixed rate bonds within a Cash ISA so you benefit from tax free interest returns.

Providers normally have a minimum subscription age of 18 but some providers offer options to younger savers.

Normally there is a minimum commitment for depositing money into a fixed rate bond – usually around £1,000, but this can be more. This makes bonds unsuitable for those who wish to top up a savings account in small increments, as this is not usually possible beyond the first lump sum, therefore could look into alternative savings and investments plans.

Having a fixed term means that bonds have a maturity date at which time you will be contacted by your savings provider and provided with options on how you wish your money to be returned to you – you may be given options of putting the money into a new account in which case you should always shop around before accepting a savings deal offered by an existing provider as the rate of interest may or may not be competitive.

Product providers do not normally allow you to access your money during the term and if they do there are normally conditions which may involve a loss of interest so ensure you read the small print before you sign up. Some fixed interest providers will allow one withdrawal a year without penalties.

Interest paid on your savings is treated as income and you may have to pay tax on it depending on your circumstances. If you don’t pay tax you can receive interest gross if you complete HMRC tax form R85. Some accounts will pay interest gross and it is up to you to declare any tax owed to the Inland Revenue.

Fixed rate bonds are cash deposit based and you will get back your original deposit plus any interest owed unless the bank or building society gets into serious financial difficulty. In the unlikely event that this happens the Financial Services Compensation Scheme would pay compensation of up to £85,000 per account holder per authorised institution.

The length of time that savers choose to deposit their money depends on personal financial time frames and other budget and savings considerations. If you need rapid access to your cash, bonds are possibly not the best savings option – it might be preferable to look at an alternative savings options or just an instant access savings accounts.

Minimum deposits can vary from £500 to over £2000. Make sure that you are happy to part with that amount of money for a longer period of time! It is worthwhile having a five-year plan of projected expenses – such as mortgages, car purchases, or planning for a family or retirement – to ensure that you will not need access to your fixed rate bonds account.

Withdrawals are either not permitted or restrictions will apply. Read the provider terms and conditions so that you know what you are getting into. Some providers for example will allow one withdrawal during the term without penalties.

The payment of interest can also vary- some offer monthly interest, others quarterly or annually, and some only pay at the end of the agreed term. Choose a product that fits in with your requirements for the best rates of high interest.

Tax is payable on interest accrued unless you are a non tax payer in which case you can receive interest gross if you complete HMRC tax form R85. Alternatively it is often possible to take a Cash ISA fixed rate bond (current cash ISA allowance for 2018/19 is £20,000 per individual) from which interest can be taken tax free.

If you have cash ISAs from previous tax years you may be able to transfer to a new Cash ISA provider offering a fixed rate bond cash ISA deal.

Please note that this information is based on current law and practice which may change at any time.

1. Consider all options – from instant access to fixed rate bonds to instant access options – All have advantages and disadvantages when trying to build a nest egg for the future.

2. Check the market – shop around to find the right savings plan for you. Interest rates are changing all the time and deals come and go on a regular basis.

3. Make sure you find a product that works for you –  The choice of bond is dependent on the amount of money you intend to deposit, the fixed rate, and the length of the fixed rate period. Whether you want the account to be operated on an online account basis, postal basis or telephone basis. These should all be taken into consideration before making your choice. Read the savings provider terms and conditions carefully.

4. Read the fine print – determine when the provider is likely to let you access your money, how much notice is required, and if there are any penalties for requesting access before the bond matures.

5. Some deals require you to have the interest paid into a current account – check the small print.

6. Check the small print on how interest is paid –  If monthly or annually this will be need to be declared if you submit a tax return. If interest is paid on maturity this may be useful for tax planning purposes.

7. Many deals require you to have internet access –  Some are offered on a postal or branch basis – check the small print.

8. Check that your money is covered by the Financial Services Compensation Scheme – they will guarantee £75,000 of savings against institutional failure. Most UK banks should have this cover, but Irish banks that do not have a UK arm may not be covered by the FSCS.

9. Check what happens when your savings product matures – Providers will write to you when your account matures; if you do not respond the provider will often put your savings into a low or no interest holding account until you provide instructions on what you want to do with the money. It is therefore important to diarise the maturity of your bond and have in mind what you want to do with the money.

10. What is the tax treatment if you are a non taxpayer – If you are not a tax payer many providers will pay interest gross on submission of the relevant HMRC tax form.