Natwest e-savings.. Current rate??

f_@_w_y

Dear All,

I found it very strange. I am existing customer of Natwest E-savings.

When I logged in, I am not aware of the current interest rate I am getting. Also, the website says that the new customer will get 4.38% gross. But none of the BEST SAVINGS ACCOUNTs table say that!

Can anyone help me on this? Is Natwest giving this rate to existing customera???

Stompa

http://www.natwest.com/personal/savings/g6/rates.ashx#eSavings

earlgrey_3

The interest rate is currently 2.30% AER but new accounts receive a bonus for 12 months bringing the rate to 4.47%. (The AER is higher than the Gross because interest is paid monthly.)

The offer applies to accounts opened after 19.09.08 . If you aren't getting the bonus you can open a second eSavings account on which the bonus will be paid.

nilrem_2

If you opened an esavings account with bonus you will receive 4.47% if you have one without 2.30%

nilrem_2

nilrem wrote: »

If you opened an esavings account with bonus you will receive 4.47% if you have one without 2.30%

Actual info on the bonus account http://www.natwest.com/personal/savings/g1/instant-access/e-savings.ashx?DCMP=ILC-PersHPeSavStcBnr

nilrem_2

earlgrey wrote: »

If you aren't getting the bonus you can open a second eSavings account on which the bonus will be paid.

Indeed, which is what I did but savers should be aware that the bonus rate does not commence for around 2 months; though it does last for a full 12 months.

carrottsforlunch

Interest rate down today on natwest e-saver . Happy new year !

YorkshireBoy

carrottsforlunch wrote: »

Interest rate down today on natwest e-saver .

It's a pretty major change. The underlying rate has been cut by 1% to 1.30% AER, and the 2.10% gross p.a. bonus rate is no longer available to new customers.

Can't see them pulling much money in from new customers with their "rewarding rate of 1.30% AER (variable)". :rotfl:

sandman2ooo

It is a pretty annoying change, as I only recently opened the new e-saver account. To add further frustration my A&L e-saver has also had its rates cut Thanks for the information YorkshireBoy.

home_alone

Works out to 3.44% AER.

It seems just about everyone has reduced rates today.

Its about time Mr Darling took the tax off savings, otherwise why bother they will soon all be under 1%.

gary

Geoff_W

It looks like they've combined the bonus rates into one rate.

There was an initial bonus rate of 2% which reduced to 1.76% in December (?). On the Natwest website, there are now only two rates given; 1.30% for a basic E-Saver and 3.44% for an E-Saver with Bonus. The Bonus version states "Limited period offer for customers who applied for an e-Savings account between 19 September 2008 and 01 January 2008." (sic) - I think they mean 2009!

So it looks like the bonus is now 2.14% for all customers who applied during that date range.

Geoff