NatWest digital regular saver

edited 22 September 2020 at 1:14PM in Savings & Investments
75 replies 11.1K views
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  • Can I just ask, I know that it's less than a tenner in year one, assuming however the rate continues after that 3% will then be £30 pa on that £1000? Im not seeing anything stating that the 3% wont apply in year 2 onwards, though I do note it's a variable rate obviously. 
  • edited 1 October 2020 at 10:11AM
    EdGasketTheSecondEdGasketTheSecond Forumite
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    edited 1 October 2020 at 10:11AM
    After 1 year you will have £600 in the account, not £1000 so you still won't get £30 interest in year 2 but would continue to receive the 3% on what you do have invested however rate may well drop before then.
  • schiffschiff Forumite
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    RG2015 said:
    Not worth the faff for the £15 max interest you will get over the year
    Opened the account in one minute. Where is the faff in that?
    Another account to manage, SO to set up, 1K tied up to earn only £15 in year one, no interest above 1K. Sounds a bit of an option for losers. Anyway enjoy your free coffee and cake in a year's time.
    It's for people who can't afford to buy a Krugerrand :smile:
  • PoonPoon Forumite
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    I have opened one of these accounts but may have rushed into it and not read the small print... lol
    I have set up my £50 DD per month but also transferred 10k into the account, I had another savings account with NW but it paid 0.01% interest so i thought this would be the most sensible option (I understand that i wont get 3% on the full amount). I regularly move money in and out of my account - is this the wrong prioduct for me?
  • edited 11 October 2020 at 9:14AM
    colstencolsten Forumite
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    edited 11 October 2020 at 9:14AM
    This is what Natwest say:



    When did you transfer your £10K? Should be interesting to know whether they actually move the money unto your current account. 

    You say you understand you won’t get 3% on the whole amount you have in the account. How much do you expect to get, and why?


    BTW, you did not set up any DD for this account, but an SO. Two very different things.
  • Hammer_TimeHammer_Time Forumite
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    If you have a joint bank account with them can you set up one for yourself and one for your partner?
  • edited 11 October 2020 at 10:57AM
    colstencolsten Forumite
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    edited 11 October 2020 at 10:57AM
    If you have a joint bank account with them can you set up one for yourself and one for your partner?
    Doesn’t look as if you can. 


    Easy to resolve though, by one or both of you setting up a sole account
  • garmeggarmeg Forumite
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    colsten said:
    If you have a joint bank account with them can you set up one for yourself and one for your partner?
    Doesn’t look as if you can. 


    Easy to resolve though, by one or both of you setting up a sole account
    I think they mean that if Mr and Mrs Smith have a joint current account that they could open two regular saver accounts - one for each of them in a single name?
  • colstencolsten Forumite
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    Dunno.May be.
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