Savings Builder | Regular Saver | NatWest International

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Savings Builder

Build your savings with our regular savings account

Apply for a Savings Builder

Exclusively for our current account customers, aged 16 and over. You must be resident in either Jersey, Guernsey, Gibraltar, Isle of Man or the UK to open a Savings Builder account.

Why choose a Savings Builder account?

If you want to become a regular saver then the Savings Builder could help you get into the savings habit. With instant access to your savings and an interest bonus for saving money each month it's a savings account that's flexible when you need it to be.

To earn interest every month, your balance must grow by at least £50 each month and if your savings don’t grow by at least £50, you don’t earn interest for that month.

Start saving with as little as £1

Open your account online through your Online banking

Instant access to your savings whenever you need them

Available for all of our current account customers, aged 16 years and over

In Detail: Savings Builder

What's the interest rate?
  Balance grows by less
than £50 a month: regular
saving condition is not met

Balance grows by at
least £50 a month: regular
saving condition is met
Balance AER/Gross p.a (variable) AER/Gross p.a (variable)
£1 - £5,000 0.00%
1.50%
£5,001 - £10,000 0.00% 1.50%
Over £10,000 0.00% 0.45%
  • 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: 1.50% on the first £5,000, 1.50% on the next £5,001-£10,000 and 0.45% on anything over £10,000.
  • Interest is calculated daily and paid on the first business day of the month. You’ll be able to see and access the interest in your account on the following day.
How do I earn interest?
  • To earn interest each month, your balance must grow by at least £50.
  • 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.
  • Interest is calculated daily and paid on the first business day of the month. You’ll be able to see and access the interest in your account on the following day.
What happens if my deposit is late?

Your payment will count towards the following monthly interest period.

If due to the late payment you have not grown your balance by £50 in that month, you will earn no interest that month.

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 contain details of the notice we'll give you.

What would the estimated balance be after 12 months based on a range of deposits?
£50 deposited
every month;
regular saving
condition is met
Initial deposit
at account opening
Balance after 12
months (includes
£600 deposited
over the 12 months)
Interest earned
£1,000 £1,620.02 £20.02
£5,000 £5,680.44 £80.44
£10,000 £10,752.51 £152.51
£25 deposited
every month;
regular saving
condition is not
met
Initial deposit at
account opening
Balance after 12
months (includes
£300 deposited
over the 12 months)
Interest earned
£1,000 £1,300 £0.00
£5,000 £5,300 £0.00
£10,000 £10,300 £0.00

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 and tiers; and any interest earned stays in the account.

Eligibility

You must be aged 16 years or over to open an account.

You must already have a current account with us, or apply for a current account with us at the same time as opening your Savings Builder account.

You can only have one Savings Builder account in your sole name and only one Savings Builder account in joint names with another person.

View our range of current accounts.

How do I open and manage my account?
  • Accounts can be opened 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.
  • Each month your balance must grow by at least £50 to earn interest. If your balance grows by less than £50 in any month, you will not earn interest.
  • Money can be managed online, via the app, by telephone or in branch. You can also pay money into your account at one of our cash deposit machines.
Is there a cost or account fee?
 

No, it's free to set up and manage your Savings Builder account. You will not be charged any additional account fees.

Can I withdraw or transfer money?
 

Yes, Savings Builder is an instant access savings account means that you can withdraw or transfer your money at any time.

However, if your withdrawal means that your overall balance has not increased by £50 on your previous balance amount recorded on the second-last business day of the previous month, you will not earn interest for that month.

You can withdraw or transfer money:

  • in branch
  • online, by telephone or within the mobile 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 interest for the month of closure.

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.

Get into the savings habit... Ready for the next step?
Apply for a Savings Builder
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