Looking for a savings account with an established high-street bank? NatWest has several to choose from, from regular savers to fixed rate bonds. NatWest Group, which includes The Royal Bank of Scotland, has 19 million customers in the UK and Ireland and more than 600 branches. We cover what you need to know about NatWest savings accounts.
Easy access savings accountsNatWest's best easy access rate of 1.75% is significantly lower than today's market-best rate of 8%.
Cash ISAsNatWest's best cash ISA rate of 4.85% is slightly lower than today's market-best rate of 5.71%.
Fixed-rate bondsNatWest's best fixed-rate bond rate of 4.9% is slightly lower than today's market-best rate of 5.9%.
Regular savings accountsNatWest's best regular savings account rate of 6.17% is lower than today's market-best rate of 8%.
Business savings accountsNatWest's best business savings account rate of 4.25% is lower than today's market-best rate of 5.9%.
Overview of NatWest savings
|Savings account types include||Easy access, cash ISAs, fixed-rate bonds, regular savers, business|
|Best easy access rate||1.75%|
|Best cash ISA rate||4.85%|
|Best fixed-rate bond rate||4.9%|
|Best regular saver rate||6.17%|
|Best business savings account rate||4.25%|
|Fixed bond terms||1 year 1 month - 2 years 1 month|
|Opening options||Branch, website, mobile app, telephone|
What’s the difference between instant access and easy access?
Instant access and easy access accounts tend to have fewer restrictions than some other savings accounts. These types of accounts typically allow withdrawals instantly or within 1 day, and have no penalties attached to withdrawing.
For an account to be easy access rather than instant access, it means there may be a short wait when you want to take money out and there can be limits on the number of withdrawals you can make.
In our easy and instant access tables, we show products that are variable rate or cash ISAs, that allow instant withdrawals or withdrawals within 24 hours, and that have no penalties attached to withdrawals. However, for some products, there may be a limit to the number of withdrawals you can make in a specified amount.
Other popular accounts
NatWest has all bases covered. Didn’t find the account type you were looking for? Check our other guides:
A bit about NatWest
In 1968 NatWest was formed out of a merger between National Provincial Bank and Westminster Bank. NatWest offers a range of products to suit all banking requirements. Since then, NatWest has been a regular presence on high streets up and down the UK – with 3,600 branches across the country.
In March 2000, The Royal Bank of Scotland completed the acquisition of NatWest in a £21 billion deal – the largest in British banking history. As a result, NatWest is now part of one of the world’s largest financial services groups. In July 2020 the banks’ parent company was renamed to NatWest Group to reflect the fact that most of its business was done through the NatWest brand.
Does NatWest offer online or mobile banking?
NatWest offers both!
Customers can manage their finances through a secure online portal, or via a mobile app.
The NatWest app is available to its customers with UK mobile numbers. The app was voted ‘Best Banking App’ in the British Bank Awards 2017. On the app, you can:
- Login securely with fingerprint
- Check balances
- View transactions
- Pay anyone up to £250
- Set up text alerts to keep up to date with account balances
How do I decide which account is for me?
You need to work out what it is you need from your bank account. Are you looking to put a bit of money away each month? Do you want to put some money away and restrict access to it? Are you after rewards or hoping to maximise interest?
You need to work out what you need before comparing the different offers available for certain types of bank account. Once you’ve done that, useful guidelines to compare include:
- Interest rates
- Fees (if there are any)
- Access to cash (if you need quick access for instance)
- Rewards and loyalty schemes (if you’re into the add-ons or switching bonuses)
NatWest customer reviews
In our 2023 customer satisfaction survey, NatWest scored 4 stars out of 5, with 76% of customers saying they’d recommend the brand to a friend.
Customers in our survey commented on NatWest’s customer service and “helpful staff”. Several also commented positively on Natwest’s high street branches.
The NatWest app has a rating of 4.8 out of 5 from around 420,000 reviews on the App Store. On Google Play, the app has a score of 4.6 from around 327,000 Android app users (November 2023).
The pros and cons of banking with NatWest?
- Award-winning app. The NatWest app makes it simple to keep an eye on your finances.
- Flexibility. NatWest offers accounts for any sort of financial need.
- High street presence. NatWest has an expansive high street presence with over 900 branches across the UK. If you prefer face-to-face customer service, there’s likely to be a branch near wherever you are.
- Better rates elsewhere? Interest rates have risen slight recently, but banks are typically slow to pass on the rise to savers. It helps to shop around to find out where you can get the best deal.
Our verdict: Is a savings account from NatWest worth it?
NatWest’s regular and fixed-term savings accounts are competitive, so NatWest could be a good option if you’re looking for an account with a high-street bank. But if you want an easy-access savings account, you may want to compare rate using our best easy and instant access savings accounts page.
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