NatWest offers 3.04% interest rate through its ‘go-to’ account – are you eligible? | Personal Finance | Finance
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NatWest is a familiar bank, and one of its accounts is likely to prove particularly popular. Many savers are looking for the best returns on money they put away, either for a rainy day or specific goal.
NatWest has floated its Digital Regular Saver as a potential option, describing it as a “go-to” account.
Britons can start to save through this account by regularly paying in £1 to £50 each month.
Individuals will be able to benefit from a competitive interest rate of 3.04 percent AER.
This makes it one of the leading offers on the market at the moment.
READ MORE: Britons slam ‘inflation-busting’ rise in stamp costs
The interest rate on this account is not fixed, and can be changed by NatWest at any time.
However, individuals can expect to get 14 days’ notice at the last if the rate is going down and their balance is £100.
In other cases, people will be told shortly before or after the change occurs.
Only certain people will be eligible for this account, so it is important to check its terms.
It can be monitored through the mobile app, online, in branch or by telephone.
Britons are warned they cannot exceed the £50 per month limit on this account, as any money over this limit will be automatically moved to one’s current account.
If a person repeatedly tries to pay more than £50 per month into the account, they will be given 60 days’ notice to close it.
Savers can only have one Digital Regular Saver, which must be in their name, and joint accounts are not permitted.
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