Natwest Savings Builder - am I missing anything?

surreysaver

Novice_investor101 said:

Beware the digital saver account. I opened it thinking i could deposit £1000 for 3% interest. You can only pay in a maximum of £50 a month it seems. I’ll still use it, just as another piggy bank account. Just disappointed in myself I didn’t read the details properly! 

But the Digital Saver is a Regular Saver in the normal sense - you can only pay in £50 per month 

veryintrigued

Just to highlight RBS have the same (Savings Builder) product

GillyFlower

Thank you for this Thread.  I am a pensioner and need to do something with my NS & I that have matured.  I am a NatWest customer and found this option.  So thought it seems OK for what I need and I think they will transfer the £50 in from current account.  So this post gives me confidence that I could be going the right way for me. 
P.S. If I am correct I can deposit £10k immediately.

bubieyehyeh

The crucial date is the 2nd last banking day of the month, that is the date they measure if the balance has increased by £50 since the last one.

grumbler

GillyFlower
P.S. If I am correct I can deposit £10k immediately.

Yes, but in this case the interest will be gradually dropping to about 0.71% after one year and so on.

I converted my single account to joint for another 'Builder' in  my wife's name and applied for a joint RBS account for two more.