New Savings Accounts Launched by NatWest and RBS

Aug. 4, 2009 - PRLog -- New Savings Accounts Launched by NatWest and RBS

NatWest and RBS are giving savers a boost towards improving their finances with the launch of 2 new savings accounts. A competitive high fixed interest rate regular savings account and a new, online savings account that is available online and over the phone, which will provide new and existing customers with further choice and flexibility of ways to save.

The Regular Saver account offers customers over the age of 16 years an attractive return of 5% gross fixed for 12 months. Customers can kick start their savings from as little as £25 per month or maximise their savings with regular payments of up to £250 per month for 12 months. Customers are not required to set up a standing order for the monthly deposit, allowing customers greater flexibility to deposit variable sums based on their surplus monthly income.  Withdrawals are not permitted on the account during the 12 month period. This savings account is available from 27 July 2009 via branches of NatWest and RBS.

Carol Sleith, Head of RBS Savings said: “Its really important that everyone tries to save each month, whether you are saving for something in particular or just for future peace of mind, even a small amount can soon add up. With our own research showing that around 42% of UK adults admit they don’t currently save, this is an ideal way to kick off the savings habit. Equally, if you are already an established saver or have fully subscribed to your ISA, the Regular Saver is an easy way to continue making an attractive return on your money at an amount that is affordable for you.”

For customers who prefer to bank online or over the phone, the Bank is also introducing a new telephone and  online savings account  from 27 July 2009. The NatWest e-Savings Plus and RBS Direct Saver Plus are designed to support customers who prefer the flexibility of easy access. Both savings accounts are available to customers over the age 18 years and attract a rate of up to 2.75% AER. This includes a 12 month conditional bonus interest rate of 2.24% AER (fixed) in addition to the standard 0.5% variable AER, when a minimum monthly balance of £5,000 is maintained and no withdrawals are made in that month.

For more information or to view the full range of savings accounts available, visit http://www.rbs.co.uk/personal/savings.ashx or http://www.natwest.com/personal/savings.ashx

Notes to Editors:
Regular Saver
·   Only one account per customer
·   Customers are required to maintain a current or additional savings account for the duration of the 12 month term
·   No withdrawals
·   No missed deposits permitted
·   In the event of a missed deposit or a withdrawal, the account will revert to an instant access savings account and interest will be paid at a nominal rate equivalent to the lowest interest tier of the instant access account (presently 0.20% Gross/AER)


E Savings Plus/Direct Saver Plus

·   The account can be opened and operated online or via telephone
·   Minimum balance required to qualify for the 12 month conditional bonus of 2.24% fixed AER is £5,000
·   Standard interest rate of 0.5% AER for balances of £5,000 and above. For balances below £5,000 a nominal rate of 0.10% AER applies.
·   Account can be opened with £1. In order to qualify for the standard interest rate and conditional bonus per month, the customer is required to maintain a minimum balance of £5,000 or more and not make any withdrawals in that month.
·   The account is available for a limited time only