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Get rewarded for saving regularly

Savings Builder account

On this page
Overview
Interest rate
Balance examples
Opening and managing your account
Withdrawing money
Compare our full range of savings accounts
Apply now

Why choose Savings Builder?

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

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

Exclusively for our current account customers, aged 16 and over

Summary Box

Account name: Savings Builder

What is the interest rate?

Balance grows by less than £50 a month: regular saving condition is not met
Balance grows by at least £50 a month: regular saving condition is met

Balance

£1+
£1 - £10,000
Over £10,000

AER/Gross p.a. (variable)

0.00%
1.50%
0.20%
Interest is paid on the above tiers on a stepped basis which means you’ll earn a different rate on each portion of your balance within the above tiers. If, for example, you hold £11,000 in your account, and you have satisfied the regular saving condition, your interest rates for that monthly period will be: 1.50% on the first £10,000 and 0.20% on anything over £10,000.You can find details of the regular saving condition in the Additional information section. Interest is calculated daily and paid on the first business day of the month. You’ll be able to see and access the interest in your account on the following day.

Can NatWest change the interest rate?

Yes, these rates are variable. If the rates are going down and your balance is £100 or more, we'll give you at least 14 days' notice. If the rates are going down and your balance is less than £100, we'll inform you before the change or shortly afterwards. If the rates are going up, we'll inform you before the change or shortly afterwards. For more information please see the Savings Account Terms (48 pages).

What would the estimated balance be after 12 months based on a range of deposits?

Initial deposit amount

£1,000
£5,000
£10,000

Deposit over 12 months

£600
£600
£600

Balance after 12 months

£1,620.02
£5,680.44
£10,751.69

Interest earned

£20.02
£80.44
£151.69
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.

Initial deposit amount

£1,000
£5,000
£10,000

Deposit over 12 months

£300
£300
£300

Balance after 12 months

£1,300
£5,300
£10,300

Interest earned

£0.00
£0.00
£0.00
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.

How do I open and manage my account?

You can open and manage your account on our mobile app, online, or in branch. You’ll of course be able to phone us too if you need help managing your account.

We will need your email address and mobile number to open your account.

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

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

 

Your eligibility

You must be a UK resident aged 16 years or over.

You must already have a current account with us, or apply for a current account with us at the same time.

You can only have one sole Savings Builder account, and one joint Savings Builder account.

Can I withdraw money?

Additional information

Get off to a fast start

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.

Definitions

AER: stands for Annual Equivalent Rate. It shows you what the rate would be if interest was paid and compounded each year. 

Gross: The interest rate you are paid without the deduction of UK 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.

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.

All okay? You're nearly ready to start.

We need to do a few final checks with you. They'll only take a minute.

Is this account just for you, or is it a joint application?

Great. Let's get your application started.

Remember, to apply for a Savings Builder, you must:

Be a current account customer

Be aged 16 years or over and a UK resident

Enter your mobile number and email address when you apply so we can identify you safely and quickly online

Great. Let's get your application started.

Remember, to apply for a Savings Builder, you must:

Be a current account customer

Be aged 16 years or over and a UK resident

Enter your mobile number and email address when you apply so we can identify you safely and quickly online

Do you have your account number and sort code?

Is this account just for you, or is it a joint application?

Great. Let's get your application started.

Remember, to apply for a Savings Builder, you must:

Be a current account customer

Be aged 16 years or over and a UK resident

Enter your mobile number and email address when you apply so we can identify you safely and quickly online

Great. Let's get your application started.

Remember, to apply for a Savings Builder, you must:

Be a current account customer

Be aged 16 years or over and a UK resident

Enter your mobile number and email address when you apply so we can identify you safely and quickly online

Is this account just for you, or is it a joint application?

Great. Let's get your application started.

Remember, to apply for a Savings Builder, you must:

Be a current account customer

Be aged 16 years or over and a UK resident

Enter your mobile number and email address when you apply so we can identify you safely and quickly online

Great. Let's get your application started.

Remember, to apply for a Savings Builder, you must:

Be a current account customer

Be aged 16 years or over and a UK resident

Enter your mobile number and email address when you apply so we can identify you safely and quickly online