Savings Builder | Savings | NatWest International

Savings Builder

Get into the saving habit

Apply for a Savings Builder Compare our savings accounts

Exclusive for our current account customers, aged 16 and over.



Flexibility when you need it
Instant access to your money



Build your balance
Earn interest when your savings grow by
£50 or more each month



Savings made simple
Open an account with just £1

Savings Builder

Get into the habit of saving money every month with a Savings Builder account.

With instant access to your savings and an interest bonus for saving money every month it's a savings account that's flexible when you need it to be.

To earn interest each month, your balance must grow by at least £50. If you can't grow your savings by £50 in a month, you won’t earn interest for that month.  

What is 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%

The need-to-knows

  • 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.

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.

Frequently asked questions

How do I open and manage my account?

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 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.

You can open and manage your account in branch, online or by telephone.

No minimum deposit is required to open the account; 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.

Can NatWest International change the interest rate?

Yes, the interest rate is variable.

The rate may be changed for any of the reasons set out in Term 10.3 of the Personal Banking Account Terms and Fees e.g. to take account of 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. 10.4 of the Personal Banking Account Terms and Fees contains details of the notice we'll give you.

Can I withdraw money?

Yes. No notice is required.

You can withdraw money:
•  in branch
•  by transfer to any other account based in the Channel Islands, Isle of Man, Gibraltar or the UK (online, by telephone or on the mobile app)

There are daily limits on the amount you can transfer from your account online, by telephone or mobile banking.

Please note: Withdrawal during the month which means your month to month balance does not increase by £50 or more will result in the regular saving condition not being met and interest not being earned.

Additional information

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.

What happens if my payment 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.

What happens if I make a withdrawal?
Savings Builder allows you to make withdrawals however if your withdrawal means that your overall balance has not increased by £50 on what it was on the second-last business day of the previous month, you will not earn interest for that month.

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)

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