Fixed Term Savings account
Available until 3 February 2020. Please note that these issues may be withdrawn early due to limited availability.
Why choose Fixed Term Savings account?
Earn between 0.65% AER/gross and 0.90% AER/gross, depending on the amount you invest and the term you choose.
Choose a term that suits you (either one or two years) and know in advance what your savings will earn.
Access your money before the end of your term by closing your account. An Early Closure Charge may be applicable.
Account name: Fixed Term Savings account
What is the interest rate?
Can NatWest change the interest rate?
No, the interest rate is fixed. This means that the rate will not change between the date you open your account and the Maturity Date.
What would the estimated balance be at maturity based on a range of deposits?
Deposit at start date
Balance at maturity date
How do I open and manage my account?
You must be aged 16 years or over and a UK resident to open an account.
If you already have a current account with us you can open your account on our mobile app, online or in branch.
If you don’t have a current account with us you can open your account online or on our Mobile App (you need to register for Online Banking before you can get our Mobile App).
We will need your email address and mobile number to open your account.
You can manage your account on our mobile app, online, in branch or by telephone.
Your balance at the Fixed Term Start Date must be at least £500 or it will be converted into an Instant Saver Account.
The Maximum Deposit is £2,000,000.
We will send you a certificate of deposit within 14 days of the Fixed Term Start Date.
Key Dates 1 year
Key Dates 2 year
Can I withdraw money?
You can withdraw money (in branch, online or by calling telephone banking) until 3.30pm on the last date to make payments or withdrawals. Partial withdrawals are not permitted after this time.
If you want to make a withdrawal after this time and before the Maturity Date, you must close your account by giving 35 days’ written notice to your branch. An Early Closure Charge will be deducted from the balance of your account, except in the event of your non-voluntary redundancy or death.
The Early Closure Charge will be the lower of the amount of interest earned on your account or 90 days’ interest.
The total amount you receive (including interest earned on your balance) will be no less than your deposit at the Fixed Term Start Date. For example, if you have earned 50 days’ interest you will only be charged an Early Closure Charge equivalent to 50 days’ interest. If you have earned 100 days’ interest you will only be charged an Early Closure Charge equivalent to 90 days’ interest.
The Early Closure Charge will be deducted from the balance of your Fixed Term Savings Account.
Reinvestment of your Fixed Term Savings Account
At the Maturity Date we’ll automatically reinvest your deposit and any outstanding interest into a new Fixed Term Savings Account unless you tell us you want to opt out.
The interest rate for the new account may be higher or lower than the rate of interest which applied to your Fixed Term Savings Account when you took it out originally
If you choose not to reinvest, your account will be converted into an Instant Saver Account on the Maturity Date (or if the Maturity Date is not a business day, the next business day) and your money can be accessed on the following day.
Please see Term 7 of the Fixed Term Savings Account Terms and the Information Sheet for more information.
AER: This is a notional rate used for interest bearing accounts which illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts.
Gross Rate: The interest rate you are paid without the deduction of income tax.
p.a.: per annum (per year)
Get ready to apply
Before you apply, we need to check you're happy with a few things. And ask you a few questions up front. Then we can make your application as quick and simple as it can be.
First things first. Please take a look at the important legal info:
If you carry on applying, it means you're happy with what's in these documents, including the FSCS information sheet. Please take some time to review, print and/or save the important information.