Fixed Rate Stepped Deposit
Interest rates that rise each year
Got £5,000 or more to save? With a Fixed Rate Stepped Deposit you get interest rates that increase each year, for 3 years.
Looking to save at least £5,000 - keeping it untouched for the next 3 years?
Our 3 year Fixed Rate Deposit could be the perfect answer.
The Deposit starts on 2nd August 2010, and it is only available on a first come, first served basis.
Why choose a 3 year Fixed Rate Stepped Deposit?
| Annual Interest | Date | £5,000 - £49,999 | £50,000 - £99,999 | £100,000 - £500,000 max |
|---|---|---|---|---|
| Year 1 | 2nd August 2010 – 28th July 2011 | 1.50% | 2.00% | 2.50% |
| Year 2 | 29th July 2011 – 31st July 2012 | 2.50% | 3.00% | 3.50% |
| Year 3 | 1st August 2012 – 31st July 2013 | 3.50% | 4.00% | 4.50% |
| 3 Year AER/Gross | 2.50% AER/Gross | 3.00% AER/Gross | 3.50% AER/Gross |
Annual interest is paid on the anniversary and on the last day within the term of the deposit.
£5,000 minimum investment - £500,000 maximum
Things you should know
Withdrawal penalty - withdrawal or closure instructions are only allowed in exceptional circumstances and will incur an interest penalty equivalent to 120 days' gross interest at the current rate of interest being earned at the time of redemption. There will also be an administration fee of £250. If the interest earned up until closure is less than the early redemption fee, your capital sum will be debited with the difference.
This is a limited offer which may be withdrawn at any time and applications will be processed on a first come, first served basis.
- The Fixed Rate Deposit has a 3 year term with interest rates that rise each year.
- The start date of the 3 year term is 2nd August 2010.
- The deposit will mature on 31st July 2013.
- You may not add to your initial deposit.
- Annual interest is paid on the anniversary and on the last day within the term of the deposit.
- The fixed annual interest rates you will earn are dependent on which year of the 3 year term you are in. The applicable rates are shown in the table below:
| Annual Interest | Date | £5,000 - £49,999 | £50,000 - £99,999 | £100,000 - £500,000 max |
|---|---|---|---|---|
| Year 1 | 2nd August 2010 – 28th July 2011 | 1.50% | 2.00% | 2.50% |
| Year 2 | 29th July 2011 – 31st July 2012 | 2.50% | 3.00% | 3.50% |
| Year 3 | 1st August 2012 – 31st July 2013 | 3.50% | 4.00% | 4.50% |
| 3 Year AER/Gross | 2.50% AER/Gross | 3.00% AER/Gross | 3.50% AER/Gross |
Annual Equivalent Rate (AER) illustrates what the interest rate would be if paid and compounded each year.
- Interest is calculated daily from the day the deposit is received.
- Interest will be credited to a NatWest Cash Management Account.
- The minimum you may invest in a NatWest Fixed Rate Deposit is £5,000. There is a maximum of £500,000.
- Withdrawal or closure instructions are only allowed in exceptional circumstances and will incur an interest penalty equivalent to 120 days gross interest at the current rate of interest being earned at the time of redemption. There will also be an administration fee of £250. If the interest earned up until closure is less than the early redemption fee, your capital sum will be debited with the difference.
- This is a limited offer which may be withdrawn at any time and applications will be processed on a first come, first served basis.
The Annual Equivalent Rate (AER) illustrates what the interest rate would be if earned and paid on an annual basis.
Things you should know
Withdrawal penalty - withdrawal or closure instructions are only allowed in exceptional circumstances and will incur an interest penalty equivalent to 120 days' gross interest at the current rate of interest being earned at the time of redemption. There will also be an administration fee of £250. If the interest earned up until closure is less than the early redemption fee, your capital sum will be debited with the difference.
This is a limited offer which may be withdrawn at any time and applications will be processed on a first come, first served basis.
New customers will be asked to provide proof of identity including verification of address.
You can download terms and conditions for NatWest current accounts and savings accounts and information on fees and charges as PDFs.
Apply now
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