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Savings Builder account
Get rewarded with higher interest rates for building your savings each month
To apply for this account, you must be aged 16 or over, have a current account with us and reside in an eligible country. To set up and maintain your banking with NatWest International, you must keep a minimum balance of £25,000 with us (or the equivalent in another currency).
On this page
Why choose a Savings Builder account?
Our Saving Builder account gives you instant access to your money and is available to existing customers with a current account who meet our eligibility requirements.
- You'll earn interest on what you save and get rewarded with higher interest rates when your savings grow by £50 or more each month.
- There's no minimum deposit to open the account and no maximum balance limit.
- You can manage your money anytime, online or using our app.
Please remember, our savings accounts are only available to customers who have a current account with us.
Information Message
To set up and maintain your banking with NatWest International, you must keep a minimum balance of £25,000 with us (or the equivalent in another currency).
Summary Box
Account name: Savings Builder account
What is the interest rate?
Balance grows by less than £50 a month: regular saving condition is not met
Balance
£1 – £10,000
Over £10,000
AER p.a. (variable)
1.06%
1.06%
Gross p.a. (variable)
1.05%
1.05%
Balance grows by at least £50 a month: regular saving condition is met
Balance
£1 – £10,000
Over £10,000
AER p.a. (variable)
4.07%
1.06%
Gross p.a. (variable)
4.00%
1.05%
Interest is calculated daily and paid on the first business day of the month and at account closure. You’ll be able to see and access the interest in your account on the following day. Interest is paid on the above tiers on a stepped basis which means you’ll earn a different rate on each portion of your balance within the above tiers. If, for example, you hold £11,000 in your account, and you have satisfied the interest condition, your interest rates for that monthly period will be 4.07% AER, 4.00% Gross p.a. (variable) on anything between £1 and £10,000 and 1.06% AER/1.05% Gross p.a. (variable) on anything over £10,000. You can find details of the interest condition in the Additional Information section.
Can NatWest International change the interest rate?
Yes, the rate is variable. We can change rates for any of the reasons set out in section 10.3 of the Personal Banking Account Terms and Fees such as responding to a change in the Bank of England’s base rate.
If rates are going down, we’ll give you at least 60 days’ notice. If rates are going up, we’ll tell you before the change or at the earliest opportunity afterwards. For more details, please read section 10.4 of the Personal Banking Account Terms and Fees.
What would the estimated balance be after 12 months based on a range of deposits?
Regular saving condition is met: £50 deposited every month (£600 a year)
Initial deposit
£1,000
£10,000
Balance after 12 months
£1,653.84
£11,003.44
Interest earned
£53.84
£403.44
Regular saving condition is not met: £25 deposited every month (£300 a year)
Initial deposit
£1,000
£10,000
Balance after 12 months
£1,312.24
£10,406.93
Interest earned
£12.24
£106.93
These are only examples and do not take into account your individual circumstances. They assume that no further deposits or withdrawals are made, there is no change to interest rates or tiers and any interest earned stays in the account.
How do I open and manage my account?
How to open your account
- Apply to open an account by completing our call back form.
- No minimum deposit is required to open the account and no minimum deposit needs to be made on a regular basis.
- There is no maximum balance limit.
- You can only have one Savings Builder account in your sole name, and only one Savings Builder account in joint names with another person.
Managing your account
- You can manage your account on our mobile app, online or by telephone.
- You can pay money in by transfer from a current account or savings account in your name held with us or held with another bank (online, by telephone or on the mobile app).
- You earn a higher rate of interest each month when you grow your balance by at least £50 each month. If your balance grows by less than £50 in any month, you will earn a lower rate of interest.
Information Message
To open a savings account, you need to have a current account with us. You also need to be aged 16 or over and reside in an eligible country. To set up and maintain your banking with NatWest International, you must keep a minimum balance of £25,000 with us (or the equivalent in another currency).
Can I withdraw money?
Yes, Savings Builder is an instant access savings account so you can withdraw your money at any time without giving notice.
You can withdraw money:
- online, by telephone banking or within the mobile app.
- by written instruction.
There are daily limits on the amount you can transfer from your account online, by telephone or mobile banking. The current daily limits and how to withdraw more than them can be found in our support centre or by contacting telephone banking.
Information Message
If withdrawals made from your account mean that your month-to-month balance does not grow by at least £50, you will earn a lower rate of interest. You earn a higher rate of interest each month when you grow your balance by at least £50.
Additional information
Annual Equivalent Rate (AER) shows the interest rate if interest is paid and compounded once each year. AER helps you to compare the rates of interest on different accounts.
Gross means the interest rate you are paid on your savings with no compounding.
p.a. - Per annum (per year).
Compound interest is interest that is paid on your original savings deposit plus any interest you’ve already earned.
To meet the regular saving condition, your balance must grow by at least £50 each month.
Interest is calculated daily and paid on the first business day of the month and at account closure. You’ll be able to see and access the interest in your account on the following day.
Our monthly interest cycle runs from close of business on the second-last business day of one month, to close of business on the second-last business day of the following month.
Close of business times depend on whether you pay in your money in-branch or by using our telephone, online or mobile banking services.
Your payment will count towards the following monthly interest period. If due to the late payment you have not grown your balance by £50 on what was the second to last business day of the month before, you will earn a lower rate of interest. You earn a higher rate of interest each month when you grow your balance by at least £50.
Savings Builder allows you to withdraw funds at any time, however if your withdrawal means that your overall balance has not increased by £50 on what was the second to last business day of the month before, you will earn a lower rate of interest. You earn a higher rate of interest each month when you grow your balance by at least £50.
You will not earn interest for the month of closure.
How to apply
Before you apply for a Savings Builder account, we’d like to meet with you to better understand your banking needs. Please review the eligibility, important information, and how your information is used to make sure this account is right for you.
Who is eligible to apply?
You can apply for an Instant Saver account if you:
- are aged 16 or over and reside in an eligible country
- have a NatWest International current account
To set up and maintain your banking with NatWest International, you must keep a minimum balance of £25,000 with us (or the equivalent in another currency).
You can only have one Savings Builder account in your sole name, and only one Savings Builder account in joint names with another person.
Information Message
If you're resident in the Channel Islands, Isle of Man or Gibraltar, please visit our Personal Banking section.
Please review our important information
If you continue to request a call back, you’re confirming that you’ve been provided with and have acknowledged our important documents. By proceeding with your application you also agree that you’ll receive your statements in a paperless format. We'll email you when your statements are ready to view in online banking.
The NatWest International Personal Banking Account Terms and Fees booklet includes details of general terms, account specific terms and account fees.
Under the scheme(s) customers are entitled to make only one claim per licensed entity regardless of the number of brands or trading names contained within that licensed entity and customers are entitled to make one claim only per licensed entity in the jurisdiction where the deposits are held.
Therefore as NatWest International brand is operated by RBS International it is not licensed in its own right. A person with a deposit in NatWest International and a deposit in RBS International would thus only be entitled to make one claim.
Jersey Banking Depositor Compensation Scheme
NatWest International is a participant in the Jersey Bank Depositors Compensation Scheme. The Scheme offers protection for eligible deposits of up to £50,000. The maximum total amount of compensation is capped at £100,000,000 in any 5 year period.
Full details of the Scheme and banking groups covered are available on the Government of Jersey website www.gov.je/dcs or on request.
Guernsey Banking Deposit Compensation Scheme
NatWest International is a participant in the Guernsey Banking Deposit Compensation Scheme. The scheme offers protection for ‘qualifying deposits’ up to £50,000, subject to certain limitations. The maximum total amount of compensation is capped at £100,000,000 in any 5 year period.
Details are available from: Website www.dcs.gg. Telephone: +44 (0)1481 722756. Post: P.O. Box 380, St Peter Port, GY1 3FY.
Deposits made in a Guernsey Branch will not be covered by any equivalent scheme in any jurisdiction outside of the Bailiwick of Guernsey.
Isle of Man Depositors’ Compensation Scheme
NatWest International is a member of the Isle of Man Depositors’ Compensation Scheme (DCS) as set out in the Depositors Compensation Scheme Regulations 2010.
To understand your eligibility under the scheme you may wish to visit the Isle of Man Financial Services Authority website.
Gibraltar Deposit Guarantee Scheme
The Royal Bank of Scotland International Limited trading as NatWest International is covered by the Gibraltar Deposit Guarantee Scheme (‘GDGS’). The GDGS can pay compensation to depositors if a credit institution is unable to meet its financial obligations. Ordinarily, most depositors – including individuals, corporations and small businesses – can claim back up to EUR 100,000 of their deposits (or EUR 100,000 for each eligible account holder if it’s a joint account). However, there are important exclusions which apply to certain depositors, which are set out on the website of the GDGS.
For further information about the compensation provided by the GDGS refer to: www.gdgb.gi.
How your information might be used
We want you to feel confident about how your information is used and shared. Before you continue, please read our privacy notice.