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To apply you must be aged 16 years or over, already hold a NatWest International current account and be resident in either the Channel Islands, Isle of Man, Gibraltar or the UK.
Why choose Savings Builder?
- Get rewarded with higher interest rates when your savings grow by £50 or more each month
- No minimum deposit to open your account
- Instant access to your savings
- Available to our current account customers
- Top up your savings with Rounds Ups
In detail: Savings Builder
What is the interest rate?
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. For example, if you hold £11,000 in your account, and you have satisfied the regular saving condition, your interest rates for that monthly period will be: 5.25% on anything between £1 and £10,000 and 2.40% 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 and at account closure. You’ll be able to see and access the interest in your account on the following day.
Can NatWest International change the interest rate?
Yes, the interest rate is variable. The rate may increase or decrease for any of the reasons set out in Term 10.3 of the Personal Banking Account Terms and Fees to account for the Bank of England's 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 10.4 of the Personal Banking Account Terms and Fees contain details of the notice we'll give you.
What would the estimated balance be after 12 months?
Regular saving condition is met
£50 deposited every month:
Regular saving condition is not met
£25 deposited every month:
These are only examples that 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 must be aged 16 years or over to open an 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 your account in branch and online and manage your account in branch, online, by telephone and on the mobile app.
- No minimum deposit is required to open the account; and there is no maximum balance limit.
- You earn a higher rate of interest each month when you grow your balance by at least £50. If your balance grows by less than £50 in any month, you will earn a lower rate of interest.
Can I withdraw or transfer money?
Yes, Savings Builder is an instant access savings account means that you can withdraw or transfer your money at any time without giving notice.
You can withdraw money:
- in branch
- by transfer to any other account based in the UK (online, by telephone or on the mobile app)
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 on this website or by contacting telephone banking.
Please note: If withdrawals made from your account mean that your month-to-month balance does not grow by at least £50, you will earn a lower rate of interest. You earn a higher rate of interest each month when you grow your balance by at least £50.
Definitions
AER: Stands for Annual Equivalent Rate. It shows you what the rate would be if the interest was paid and compounded each year.
Gross Rate: This means the interest rate you are paid without deduction of income tax.
p.a.: Per annum (per year).
Ready to apply?
Before you apply, we've outlined the eligibility requirements for the account below, along with our terms and conditions to make sure it's the right account for you. If you're happy, we'll run through a few quick questions to make your application as easy as possible.
You can apply for a Savings Builder account if you are:
- aged 16+, and
- resident in the Channel Islands, Isle of Man or Gibraltar (you must be an existing customer with us if you are resident in Gibraltar), and
- an existing NatWest International current account holder
Please review our important information
By clicking continue you’re confirming that you’ve been provided with, and have acknowledged our important documents. By proceeding with your application you also agree that you’ll receive your statements in a paperless format. We'll email you when your statements are ready to view in online banking.
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.