nat west savings rates 1.5% and 1%
surfsister
Posts: 7,527
Forumite
Savings Builder
Earn up to 1.5% AER/Gross p.a. (variable) interest including conditional bonuses when you grow your savings by £100 or more each month
You can open the account with just £1
Earn bonus interest for saving regularly
Take your money out whenever you like
http://personal.natwest.com/personal/savings/savings-builder.html#Summary Box
Basically pay in £100 A month to get 1.5% for a year up to 5k in account then 5k to 10k get 1%
Earn up to 1.5% AER/Gross p.a. (variable) interest including conditional bonuses when you grow your savings by £100 or more each month
You can open the account with just £1
Earn bonus interest for saving regularly
Take your money out whenever you like
http://personal.natwest.com/personal/savings/savings-builder.html#Summary Box
Basically pay in £100 A month to get 1.5% for a year up to 5k in account then 5k to 10k get 1%
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Comments
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I have had this since October 2016 so not a new account. What is good though for a regular saver type of account is that you can pay in a lump sum up to £10,000.
Watch out for the £100 increase measurement date being the penultimate working day of the month.0 -
surfsister wrote: »Basically pay in £100 A month to get 1.5% for a year up to 5k in account then 5k to 10k get 1%
The bonus rate only depends on making the monthly addition of £100 - it keeps on going beyond the end of the first year.What is good though for a regular saver type of account is that you can pay in a lump sum up to £10,000.
You can also withdraw money from the account and replace it in the same month and still earn the bonus rate - just so long as the balance on the penultimate day is £100 more than it was the previous month"In the future, everyone will be rich for 15 minutes"0 -
The bonus rate only depends on making the monthly addition of £100 - it keeps on going beyond the end of the first year.
I always thought they would reduce the rate before the year was up. This is a crazy rate for NatWest and is 15 times higher than their Premium Saver for up to £5,000.You can also withdraw money from the account and replace it in the same month and still earn the bonus rate - just so long as the balance on the penultimate day is £100 more than it was the previous month
It appears that NatWest are rewarding those that can understand their convoluted Ts&Cs and apply them correctly and effectively.0 -
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PeacefulWaters wrote: »Others might think they're trying to confuse customers into failing to jump the hurdles required to get a decent rate.0
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still a good rate once the terms have been sorted! must be one of the best rates for up to £5 k easy access0
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From April 3rd balance will need to increase by only £50 to get bonus rate. Also from April 3rd the rate without the bonus will be 0%.0
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To find out the penultimate day, do NatWest use calendar month or monthly anniversary from the date you opened account? Thanks.0
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