Savings accounts
Comparing savings accounts
Whether you're new to saving, or more of an expert, this page is designed to help you find the savings account that best suits your needs.
Compare different savings accounts in the table below; from All Savings to Instant Access, Fixed Rate, ISAs or Children's savings accounts.
Digital Regular Saver
Commonly used for:
Getting into a regular savings habit
Flexibility in building up a savings pot
Achieving the higher interest rate on balances up to £1,000
- Instant Access
- Save between £1 - £50
- Apply online only in 5 minutes
AER/Gross p.a (variable)
Savings Builder
Commonly used for:
Forming a good monthly saving habit
Saving up for larger purchases, e.g. further education, a car, a holiday or a house deposit
- Instant access
- Start with just £1
- Apply online in just 5 minutes
AER/Gross p.a. (variable)
Instant Saver
Commonly used for:
Setting cash aside for monthly spending or unexpected bills
Saving for larger items, e.g. clothes, gifts, meals out or holidays
Managing monthly spending while earning interest
- Instant access
- Start saving with just £1
- Apply online in 5 minutes
AER/Gross p.a. (variable)
Premium Saver
Commonly used for:
Earning higher interest on larger pots of savings that are unlikely to be needed on a regular basis
Note: all our savings accounts are protected by the FSCS guarantee up to a certain limit. For more info see the bottom of this page
- Instant access
- Start with just £1
- Apply online in 5 minutes
AER/Gross p.a. (variable)
First Saver
Commonly used for:
- Helping children learn how to save
- Storing pocket money
- Saving for your child's future
- Instant access
- Start with just £1
- Apply online in 5 minutes
- Hold account in trust or child's name
AER/Gross p.a. (variable)
Fixed Rate ISA
Commonly used for:
Locking away spare savings for use in the future
Maximising tax-free interest earned
Certainty on what interest you'll earn on your savings
- Tax-free interest on balances up to £20,000
- Terms of 1 or 2 years
- £1,000 min. deposit
AER/Gross p.a. (fixed)
Cash ISA
Commonly used for:
Earning interest on savings that would otherwise be taxed
Building up a tax-free savings allowance
- Instant access
- Tax-free interest on balances up to £20,000
- Start with just £1
- Apply online in 5 minutes
AER/Gross p.a. (variable)
Savings accounts explained
What is instant access?
Instant access savings accounts allow you to withdraw your money whenever you need it. Save as much or as little as you want each month with no charge.
Some of our instant access accounts offer bonus interest rates for depositing regularly or leaving your savings untouched.
These accounts are also known as 'easy access' savings accounts. Common uses include as a first savings account, or to store shorter term savings for rainy days or smaller purchases.
To jump back up and view our range of instant access products, click here.
What are fixed rate accounts?
Fixed rate savings (formally called 'bonds') allow you to fix your interest rate for a set period of time, and it will not be changed. By contrast, instant access savings account rates are variable and can be changed, e.g. to take account of Bank of England base rate changes, or changes in rates paid by other banks.
Fixed rate accounts offer guarantees over what interest you’ll earn over a 'term'. This is the set time period offered by the bank. At NatWest we offer terms of either 1 or 2 years.
It is important to note that if you choose to end your term early and access your cash, you could incur an Early Closure Charge.
To jump back up & compare our fixed rate products, click here.
What is a cash ISA?
A cash ISA is a savings account where you don’t pay tax on the interest you earn. We offer 2 types of cash ISA:
- Cash ISA - where you can withdraw money anytime you want
- Fixed Rate ISA - where you get a guaranteed rate, but must lock your savings in for a certain time, called a 'term'.
Anyone aged 16 or over and resident in the UK for tax purposes can open and deposit into a cash ISA. The current tax-free allowance is £20,000. To jump back up & compare our ISA products, click here.
For a more detailed overview of our ISAs, visit our ISA overview page.
Manage your existing savings account
Find out how you can use our Savings Goal Tool using your mobile app as well as other top tips to help you save. You can log in and manage or close your savings account and learn about your personal savings allowance.
Financial Services Compensation Scheme
Your eligible deposits with NatWest are protected up to a total of £85,000, by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme.
Find out more (PDF, 3k KB) about the scheme and how it protects your money.