Natwest Digital Regular Saver matured - keep or open new?

maximise

Hi all, I've a Natwest Digital Regular saver that's been open for 12.5 months, not sure if it can continue to be earning the (currently) 5.5% interest rate, or if it closes/ downgrades to another form of account? Can I open another one?

I just asked cora, and got nowhere so I called natwest and was very patient, however the advisor gave very short answers and wouldn't reply with a clear answer, even when I tried to rephrase my question, might try calling them again later.
thanks

Middle_of_the_Road

NatWest Regular saver is open-ended. Once you get to 5k there's no point increasing. I move the £26 monthly interest elsewhere.

Kim_13

The NatWest (and RBS) Digital Regular Savers are open ended. £5,000 is the most that receives the 5.5% rate, so once there, simply withdraw the interest each month.  You could then open the RBS version, as you are allowed both - but would need an RBS current account to do so.

Middle_of_the_Road

Yo can elect to have round-ups credited to the DRS. Make sure to set round-ups set to times 5

JGB1955

In my experience, it just carries on....  I had mine for well over 2 years.

IanManc

You're mistaken - the NatWest and RBS Digital Regular Savers don't "mature".

maximise

Brilliant thank you, my mistake I hadn't realised it doesn't mature, balance is approx. halfway to £5k so I'll carry-on.
Have aready set drs to max. and already got the RBS many thanks all.

Bridlington1

Middle_of_the_Road said:

Yo can elect to have round-ups credited to the DRS. Make sure to set round-ups set to times 5

Also worth noting that if you've got their reward account you can get the £5/mth for logging into the app and paying out 2 DDs paid directly to the regular savers without it counting towards the £150/mth max deposit.

artyboy

Bridlington1 said:

Middle_of_the_Road said:

Yo can elect to have round-ups credited to the DRS. Make sure to set round-ups set to times 5

Also worth noting that if you've got their reward account you can get the £5/mth for logging into the app and paying out 2 DDs paid directly to the regular savers without it counting towards the £150/mth max deposit.

£10/mth if you can qualify for the Premier Reward version. Natwest have been good for Mrs Arty and me for the past few years...

MichaelAP

artyboy said:

£10/mth if you can qualify for the Premier Reward version. Natwest have been good for Mrs Arty and me for the past few years...

To qualify you need a minimum of £100k sole income or £120k joint income paid into your NatWest account, or £500k minimum mortgage borrowing, or minimum £100k savings or investments held.
That’s a lot of monies held with NatWest where I am trying to fathom interest rates at your advantage?

WillPS

MichaelAP said:

artyboy said:

£10/mth if you can qualify for the Premier Reward version. Natwest have been good for Mrs Arty and me for the past few years...

To qualify you need a minimum of £100k sole income or £120k joint income paid into your NatWest account, or £500k minimum mortgage borrowing, or minimum £100k savings or investments held.
That’s a lot of monies held with NatWest where I am trying to fathom interest rates at your advantage?

Premier was handed out more liberally in the past and to my knowledge Natwest don't revoke status. For instance, a friend of mine briefly had 2 mortgages with a combined value of just under the threshold for Premier. The branch employee bumped him to Premier and he's stayed there ever since, despite never meeting the threshold in the first place!

AIUI Natwest Group are now super strict about checking criteria to get Premier status but still once you have it, you have it (unlike Barclays/HSBC).