Natwest Savings - Treasury Reserve

eviekins

Hi guys,
Was just browsing through the Natwest site and came across this. (See Below)
Was just wondering if any of you have any experience with this? Any information/opinions is highly appreciated as I will admit i'm pretty clueless regarding this savings option!
I would be looking at the £25,000 for 28 days.
Thanks in advance

Enjoy money market rates with Treasury Reserve



What is the best place for your surplus funds? With an interest rate linked to London money market rates, a Treasury Reserve deposit account could be the ideal answer.
This option is ideal if you’re prepared to put your money on deposit for a set period of time. However, it’s not suitable if think you may need access to your funds during the deposit term.
Treasury Reserve - benefits

• Guaranteed return - know exactly how much you will earn
• Flexible - deposit your funds any time from overnight up to 12 months
• Responsive - the rate you can fix at changes daily, in line with London money market rates
• Easy to use - simply book your deposit from 8.30am until 3pm on any working day

Minimum deposits

With Treasury reserve, the minimum deposit is linked to the length of time you want to deposit the funds.


Fixed term depositMinimum depositOvernight£250,0002+ days£250,0007+ days£50,00028+ days£25,000

opinions4u

The key is the rate.

I'd guess it will be below 1% so a Nat West eSavings account paying the stunning sum of 1.00% may well be better.

You can get 2.75%+ elsewhere (Halifax, ING, Tesco often have rates in that range), but this is only £1.50 a day after tax ... I'd do it for that, but it's your money and your time.