NatWest e-Savings Account - Interest

savingstudent_2

Hello,

This is my first post so please forgive me if it has been added in the wrong place. Basically I am wondering if anyone can explain (in simple terms) how the NatWest e-Savings account works - in relation to the interest made.

What I tend to do is pay in a large amount each month (to the e-Savings account) and then, as needed, transfer cash to a ordinary savings account. Is this what I should be doing? Or perhaps the other way round?

Any help is appreciated.

Thanks.

Cricri

You can do it that way. E-savings are completely opened, you can put and withdraw cash as you wish. Interests are 4.84% gross now. In a previous bank I was in, they used to pay interests on two weeks periods. So if you leave money than less than 2 weeks, you didn't get any interests at all. And if you removed money before the 2 weeks passed, you'd lose interests over this money for 2 weeks. I don't know if this is the case as I really use e-savings as a savings account, not as a current account

taless

Savingstudent, yes you can do it that way, in fact that's how I operate mine too. They will calculate the interest based on how much you have in your e-savings at the end of each working day, and credit it to you at the end of the month.

It is really the balance at the end of each day that matters