Premium Saver
Get rewarded with bonus interest every month you leave your savings untouched
Instant access to your savings when you need it
Earn bonus interest on savings between £25,000 and £1 million
Please read the Summary Box below before applying
Travel Money
If you need to access your savings, the interest rate only drops for the month you withdraw your money. Leave it untouched the following month, and you'll get the bonus interest again.
Bank it
You can access your money whenever you need to, online in branch or over the phone.
Summary Box
Account name: Premium Saver Account
1. What is the interest rate?
| One or more withdrawals made in month: bonus condition is not met | No withdrawals made in month: bonus condition is met | |
Balance |
AER/Gross p.a. (variable) |
AER/Gross p.a. (variable) |
£1-£24,999 |
0.10% |
0.10% (no bonus paid) |
£25,000 – £49,999 |
0.10% |
0.50% (includes 0.40% bonus) |
£50,000 – £1,000,000 |
0.10% |
0.75% (includes 0.65% bonus) |
Over £1,000,000 |
0.10% |
0.10% (no bonus paid) |
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 0.75% 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.
2. 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, 605k), 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, 605k) contains details of the notice we’ll give you.
3. What would the estimated balance be after 12 months based on a range of deposits?
Initial deposit at account opening |
Balance after 12 months |
Interest Earned (Bonus interest: 0.50% to 0.75% AER (Gross p.a.)) |
|
No withdrawals made in any month: bonus condition is met
|
£25,000 £50,000 £150,000 |
£25,125.29 £50,376.29 £151,128.87 |
£125.29 £376.29 £1,128.87 |
|
Initial deposit at account opening |
Balance after 12 months (includes £600 withdrawn over the 12 months) | Interest Earned (No bonus: 0.10% AER (Gross p.a.)) |
One withdrawal of £50 made each month: bonus condition is not met for the whole year
|
£25,000 £50,000 £150,000 |
£24,424.73 £49,449.74 £149,549.79 |
£24.73 £49.74 £149.79 |
These are only examples and do not take into account your individual circumstances. They assume that no further deposits or withdrawals are made; there is no change to interest rates and tiers; and any interest earned stays in the account.
4. How do I open and manage my account?
|
5. 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)
• up to £250 per day at any cash machine
• up to £500 per day (or your ATM card limit, whichever is lower) at any Post Office® throughout the UK
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.
6. Additional information
Bonus Condition
How do I earn bonus interest?
|
What happens if I close my account?
- 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.
Balance Tiers
|
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 0.10% AER/Gross p.a. (variable) on your entire account balance
Definitions
Annual Equivalent Rate (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 into a savings habit
Whatever you're saving for, a new car, your dream holiday or a rainy day, it's easy to get into the habit of putting away a bit of cash each month. We have a range of quick tips and tools to help you get started.
