Premium Saver account

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.

Account name: Premium Saver

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.

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.

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.

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.

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 UK income tax.

p.a.: per annum (per year)

Why not let us do the saving for you? Tell us you’d like a regular payment or an instant transfer to your new savings account in your application, and we’ll do it automatically for you – that’s one less thing to think about. It’s a great habit to start.

Remember, our Premium Saver is exclusive for our current account customers.

Before you start your application, we need to check a few things.

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.