Savings Builder Account

Earn up to 1.50% AER/Gross p.a. (variable) when you grow your savings by £50 or more each month

Exclusively for our current acccount customers, aged 16 and over

Flexibility when you need it. If you can't grow your savings by £50 in a month, it just means you won’t earn interest for that month

Account name: Savings Builder

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 Savings Builder Account in your sole name, and only one Savings Builder Account in joint names with another person.

You can open and manage your account in branch, online and by telephone.

No minimum deposit is required to open the account; and there is no maximum balance limit.

Each month your balance must by grow by at least £50 to earn interest. If your balance grows by less than £50 in any month, you will not earn interest

Yes, you won't be charged and you don't need to give us notice. 

You can withdraw money:

In branch

By transfer to any other account based in teh UK (online, by telephone, or on the mobile app)

There are daily limits on the amount of money you can withdraw from your account via phone, online or mobile banking. Find out more about the daily limits or speak to us on the phone about them. Please note: Withdrawal during the month which means your month to month balance does not increase by £50 or more will result in the regular saving condition not being met and interest not being earned.

To earn interest each month, your balance must grow by at least £50. The monthly cycle to grow your balance and earn interest 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 depend on whether you pay in your money in-branch or by using our telephone, online or mobile app services.

Your payment will count towards the following monthly cycle. If due to the late payment you have not grown your balance by £50 in that month, you will earn no interest in that month.

Savings Builder allows you to make withdrawals. However if your withdrawal means that your overall balance has not increased by £50 on what it was on the second-last business day of the previous month, you will not earn interest for that month.

You will not earn interest for the month of closure.

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)

We'll send you an email when your statements are ready to view  in  Online Banking . You can  check it whenever you want.

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 Savings Builder 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.