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Get rewarded with bonus interest every month you leave your savings untouched
Premium Saver account
Please read the Summary Box below before you apply, this will give you key information about Premium Saver
Why choose Premium Saver?
Earn bonus interest on savings between £25,000 and £1 million when you leave them untouched for that month.
Exclusively available for our current account customers, aged 16 and over
Get instant access to your savings when you need it.
Summary Box
Account name: Premium Saver
No withdrawals made in month: bonus condition is met
Interest is paid on a tiered basis which means you’ll earn one rate on your entire account balance. If, for example, you hold £150,000 in your account and you have satisfied the bonus condition, your interest rate for that monthly bonus period will be 0.85% AER/Gross p.a. on your entire account balance.You can find details of the bonus condition in the Additional Information section.Interest is calculated daily and paid on the first business day of the month and at account closure.
Can NatWest change the interest rate?
Yes, these rates are variable. They may be changed for any of the reasons set out in General Term 9.2 of the Savings Account Terms (PDF, 281 KB), e.g. to take account of Bank of England base rate changes or changes in the rates paid by other banks. If the rates are going down we’ll give you at least 60 days’ notice. If they are going up, we’ll inform you before the change or shortly afterwards. Term 9.2 (PDF, 281 KB) contains details of the notice we’ll give you.
What would the estimated balance be after 12 months based on a range of deposits?
One withdrawal of £50 made each month: bonus condition is not met for the whole year
How do I open and manage my account?
Your eligibility
You must be a UK resident aged 16 years or over and already have a current account with us, or apply for a current account with us at the same time.
We will also need your email address and mobile number to open your account.
You can only have one Premium Saver Account in your sole name, and only one Premium Saver Account in joint names with another person.
You can open and manage your account on our mobile app, online, in branch or by telephone.
No minimum deposit is required to open the account; no minimum deposit needs to be made on a regular basis; and there is no maximum balance limit.
However, to earn the bonus rate of interest in each monthly bonus period, your account balance must be between £25,000 – £1,000,000 and you must not make any withdrawals in that month.
Can I withdraw money?
Yes. No notice is required. You can withdraw money:
in branch
by transfer to any other account based in the UK (online, by telephone or on the mobile app)
There are daily limits on the amount you can transfer from your account online, by telephone or mobile banking.
The current daily limits and how to withdraw more than them can be found here or by contacting Telephone Banking.
However if you make one or more withdrawals in a monthly bonus period, you will not earn the bonus for that month and your interest rate will be lower for that period.
Additional information
To earn the bonus in each monthly bonus period, your account balance must be between £25,000 and £1,000,000, and you must not make any withdrawals from your account for that month
A monthly bonus period runs from close of business on the second-last business day of one month, to close of business on the second-last business day of the following month.
Close of business times differ depend on whether you pay in your money in branch, or by using our telephone, online or mobile banking services.
For example, if your account balance is £1,100,000, you will not earn bonus interest on any part of your balance. You will earn 0.35% AER/Gross p.a. (variable) on your entire account balance
You will not earn bonus interest for the monthly bonus period of closure. The interest rate without bonus will continue to apply up until the day you close your account
Bonus interest only applies on balances between £25,000 – £1,000,000 where the bonus condition is met. No bonus interest will be earned for any day on which your account balance is less than £25,000 or greater than £1,000,000.
Definitions
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: The interest rate you are paid without the deduction of income tax.
p.a.: per annum (per year)
Ready to apply?
Remember, our Premium Saver is exclusive for our current account customers.
Before you start your application, we need to check a few things.
Do you have Online Banking?
What you need to have
You must be a current account customer
You must be aged 16 years or over and a UK resident to open an account.
Enter your mobile number and email address when you apply and we could identify you safely and quickly online.
And now for the important information...
Important Information
Please take some time to review, print and/or save the important information. By clicking to proceed you are confirming that you have been provided with, and have acknowledged our important documents including the FSCS information sheet.
How your information might be used
It’s important for you to understand how we use and share your information Please read this short summary before you continue with your application.
Are you ready to continue?
Is this account just for you, or is it a joint application?
Great. Let's get your application started.
Great. Let's get your application started.
Do you have your account number and sort code?
What you need to have
You must be a current account customer
You must be aged 16 years or over and a UK resident to open an account.
Enter your mobile number and email address when you apply and we could identify you safely and quickly online.
And now for the important information...
Important Information
Please take some time to review, print and/or save the important information. By clicking to proceed you are confirming that you have been provided with, and have acknowledged our important documents including the FSCS information sheet.
How your information might be used
It’s important for you to understand how we use and share your information Please read this short summary before you continue with your application.
Are you ready to continue?
Is this account just for you, or is it a joint application?
Great. Let's get your application started.
Great. Let's get your application started.
What you need to have
You must be a current account customer
You must be aged 16 years or over and a UK resident to open an account.
Enter your mobile number and email address when you apply and we could identify you safely and quickly online.
And now for the important information...
Important Information
Please take some time to review, print and/or save the important information. By clicking to proceed you are confirming that you have been provided with, and have acknowledged our important documents including the FSCS information sheet.
How your information might be used
It’s important for you to understand how we use and share your information Please read this short summary before you continue with your application.
Are you ready to continue?
Is this account just for you, or is it a joint application?
Great. Let's get your application started.
Great. Let's get your application started.
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 about the scheme and how it protects your money.
Tips to help you start saving
If you're not sure where to start, our guide to managing your money can help you get on the right track.