Premium Saver Account | NatWest International

Mature couple using binoculars

Premium Saver

Earn bonus interest on balances between £25,000 - £1,000,000

Apply for a Premium Saver

You must be aged 16 years or over, resident in either Jersey, Guernsey, Gibraltar, Isle of Man or the UK and be an existing NatWest International current account customer to open a Premium Saver account.

Premium Saver

Earn bonus interest on savings between £25,000 - £1 million when you leave your balance untouched

Open your account online through your online banking

Instant access to your savings when you need them

Manage your money 24/7 online or via the app

Exclusively available for our current account customers, aged 16 years and over

Illustration of a plane

In Detail: Premium Saver

What's the interest rate?

With bonus interest
No withdrawals made in any month

Balance AER / Gross p.a. (variable)
£1 - £24,999 0.20% (no bonus paid)
£25,000 - £49,999 0.60% (inc. 0.40% bonus)
£50,000 - £1,000,000 0.85% (inc. 0.65% bonus)

Over £1,000,000
0.45% (no bonus paid)

Without bonus interest
One or more withdrawals made in a month

Balance AER / Gross p.a. (variable)
£1 - £24,999 0.20%
£25,000 - £49,999 0.20%
£50,000 - £1,000,000 0.20%

Over £1,000,000
0.45%
  • Interest is paid on a tiered basis which means you’ll earn one rate on your entire account balance.
  • You can find details of the bonus condition in the Additional Information section.
  • Interest is calculated daily and paid on the first business day of the month and at account closure.
How do I earn bonus interest?

To earn bonus interest in each monthly bonus period, your account balance must be between £25,000 and £1,000,000, and you must not make any withdrawals from your account for that month. No bonus interest will be earned for any day on which your account balance is less than £25,000 or greater than £1,000,000.

Interest is paid on a tiered basis which means you’ll earn one rate on your entire account balance. If, for example, you hold £150,000 in your account and you have met the bonus condition, your interest rate for that monthly bonus period will be 0.85% AER/Gross p.a. on your entire account balance.

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.

The monthly bonus period runs from close of business on the second-to-last business day of one month, to close of business on the second-to-last business day of the following month.

Close of business times differ depend on whether you pay in your money in branch, or by using our telephone, online or mobile banking services.

Can NatWest International change the interest rate?

Yes, the interest rate is variable.

The rate may increase or decrease for any of the reasons set out in Term 10.3 of the

Personal Banking Account Terms and Fees to account for the Bank of England's base rate changes or changes in the rates paid by other banks.

If the rates are going down we'll give you at least 60 days' notice. If they are going up, we'll inform you before the change or shortly afterwards. Term 10.4 of the Personal Banking

Account Terms and Fees contains details of the notice we'll give you.

How much interest could I earn?

12 month example based on a range of deposits

With Bonus Interest

No withdrawals made in any month (bonus condition is met)

Initial Deposit Balance after 12 months Interest earned
£25,000 £25,150.41 £150.41
£50,000 £50,426.66 £426.66
£150,000 £151,279.98 £1,279.98

Without Bonus Interest

One withdrawal of £50 made each month for a year (bonus condition is not met for the year)

Initial Deposit Balance after 12 months Interest earned
£25,000 £24,449.39 £49.39
£50,000 £49,449.44 £99.44
£150,000 £149,699.62 £299.62
  • Interest is paid on a tiered basis which means you’ll earn one rate on your entire account balance.
  • You can find details of the bonus condition in the Additional Information section.
  • Interest is calculated daily and paid on the first business day of the month and at account closure.
Eligibility

You must be aged 16 years or over, and have a current account with us, to open a Premium Saver account.

You can only have one Premium Saver Account in your sole name, and only one Premium Saver Account in joint names with another person.

No minimum deposit is required to open the account; no minimum deposit needs to be made on a regular basis; and there is no maximum balance limit. However, to earn the bonus rate of interest in each monthly bonus period, your account balance must be between £25,000 – £1,000,000 and you must not make any withdrawals in that month.

View our range of current accounts

How do I open and manage my account?
  • Accounts can be opened and managed online, in branch or by telephone banking. To open an account online or by phone, you will need to be a registered user of these services.
  • No minimum deposit is needed to open the account and you do not need to pay money in on a regular basis; and there is no maximum balance limit.
  • The standard interest rate will be paid on balances of £1 and above. Bonus interest will be paid on balances between £25,000 - £1 million when no withdrawals are made that month.
Can I withdraw or transfer money?

Yes, Premium Saver is an instant savings account which means that you can withdraw, transfer or access your money at any time. However, if you make one or more withdrawals, you will not earn bonus interest on any applicable balance for that calendar month.

You can withdraw or transfer money:

  • in branch
  • online, by phone or within the app

Money can be transferred to any other account based in the UK, Channel Islands, Isle of Man or Gibraltar.

There are daily limits on the amount you can transfer from your account online, by telephone or mobile banking. You can find out the current daily limits by calling telephone banking or asking in branch.

What happens if I close my account?

You will not earn bonus interest for the monthly bonus period of closure. The interest rate without bonus will continue to apply up until the day you close your account.

Definitions

Annual Equivalent Rate (AER) - This is a notional rate used for interest bearing accounts which illustrates what the gross credit interest rate (excluding any bonus interest payable) would be if paid and compounded on an annual basis. It helps you to compare the effective rates of credit interest on different accounts.

Gross
is the interest rate paid before the deduction of tax.

p.a.
per annum (per year).

Important information

We want to make sure that you have all the information you need before you open an account with us. So before you do, please take some time to read and save, download or print this information.

Apply today... Ready for the next step?
Apply for a Premium Saver
Set Tab for lightbox