NatWest Flexible Saver
To apply, you must be 16+ and hold a NatWest current account and be a UK resident
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Take a peek - Flexible Saver Open in new window
How flexible saving works Open in new window
What's the interest rate? Open in new window
What could a future balance be? Open in new window
Managing your Flexible Saver account Open in new window
Find out more about savings Open in new window
Ready to apply Open in new window
Take a peek at Flexible Saver, our instant access account
Save for a rainy day or take aim at your savings goals without having to lock your money away with the NatWest Flexible Saver account.
With our instant access savings account you can put money aside each month, or whenever suits you. You'll earn interest on what you save and can add a lump sum at anytime.
If you're eligible forRound Ups(criteria apply),you could also save every time you use your card.
An instant access savings account is a flexible type of savings account that allows you to save in the way that best suits you. They typically have fewer restrictions or requirements than other savings account types on things like minimum deposits or when you can withdraw funds.
With an instant access savings account, you can put money in whenever you can afford to and take it out when you need to. There’s no need to worry about facing any penalties for doing so. Ifyou want to save, instant access accounts let you do it at your own pace.
An instant saver could be the best choice whether you're saving for your dream house, first car or retirement.
With Flexible Saver, you can dip into your savings pot whenever you need to without facing any additional charges. Withdraw your savings easily at anytime by using Online Banking, the NatWest mobile app or pop along to your branch.
Online Banking available to customers with a NatWest account. App available to customers with compatible iOS and Android devices and a UK or international mobile number in specific countries
You can pay money in by transfer from a current account or savings account in your name that is held with us or held with another bank (online, by telephone or on the mobile app).
No minimum deposit is required to open the account, no minimum deposit needs to be made on a regular basis, and there is no maximum balance limit.
How Flexible Saver works
Get started saving
It's easy and quick. Just hit the apply button to get started. Once set up, you can choose when and how you want to save. We also have handy digital tools to help you reach your savings goals.
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Flex your easy access savings when you need to
You can add a lump sum or set up a standing order or pay in what you want, when you want. It's up to you.
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Easy access to your cash
With our Mobile Banking app, you can access your accounts, check your balance, transfer money into your current account and get support whenever you like.
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Online Banking available to customers with a NatWest account. App available to customers with compatible iOS and Android devices and a UK or international mobile number in specific countries
Summary Box
Account name: Flexible Saver
What's the interest rate?
The interest you earn will depend on the amount you have saved over the course of the year. Interest rates on our instant savings accounts are variable.
Balance
£1 - £24,999
£25,000 - £99,999
£100,000 - £249,999
£250,000+
AER p.a. (variable)
1.60%
2.10%
2.50%
3.10%
Gross p.a (variable)
1.59%
2.08%
2.47%
3.06%
Interest is paid on a tiered basis which means you’ll earn one rate on your entire account balance. If, for example, you hold £150,000 in your account your interest rate will be 2.50% AER / 2.47% Gross p.a (variable) on your entire account balance. 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 change the interest rate?
Yes, we may change the rate up or down on your instant saver account.There are a few reasons for this, such as a change in the Bank of England base rate. We’ll give you at least 14 days’ notice if the rates are going down and your balance is £100 or more. Otherwise we’ll tell you before or shortly after the change.
You can find more detail on the reasons for an interest rate change and how we'll tell you about this in section 9.2 of theSavings Account Terms (PDF, 474 KB).
What would the estimated balance be after 12 months based on a range of deposits?
The amount you deposit into your instant savings account will determine the interest you earn over the year. In the table below, we list estimates of the interest that could be earned with different deposit amounts.
Initial deposit amount
£1,000
£50,000
£150,000
£300,000
Balance after 12 months
£1,016.02
£51,049.97
£153,747.22
£309,309.82
Interest earned
£16.02
£1,049.97
£3,747.22
£9,309.82
This is only an illustration of what you could save and assumes that no further deposits or withdrawals are made, that there aren’t any changes to interest rates or tiers, and any interest earned stays in the account.
How do I open and manage my Flexible Saver account?
Before you apply:
- 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 need an email address and mobile number to open your account. You can update themonline.
- To open in branch you must bring your own digital device such as a mobile or tablet and our staff can assist you opening the account yourself.
Managing your account:
- You can open and manage your account on our mobile app, online or by telephone.
- You can pay money in by transfer from a current account or savings account in your name held with us or held with another bank (Online, by telephone or on the mobile app).
- No minimum deposit is required to open the account; no minimum deposit needs to be made on a regular basis; and there is no maximum balance limit.
- You can use Round Ups with Flexible Saver.
Can I withdraw money?
Yes, you can withdraw your money at anytime from your instant savings account. Simply move the amount you want to your current account held with us using Online Banking, mobile app, in branch or by telephone.
If you close or switch your current account with us in future, you will only be able to withdraw money from your account in branch.
Definitions
Banking can be confusing sometimes. Here's what some of the words we use mean.
Stands for the Annual Equivalent Rate. It shows you what the rate would be if interest was paid and compounded each year.
The interest rate you are paid without the deduction of UK income tax.
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.
All kinds of general info about our savings accounts. Including details about the Flexible Saver account.
Download PDF (474 KB)
Here you'll find our interest rates for each of our products, including balance examples to see how much you could earn.
Download PDF (140 KB)
Very important information about how your money is protected. Just in case.
Download PDF (106 KB)
How your information might be used
It’s important for you to understand how we use and share your information Please readthis short summarybefore you continue with your application.
As part of the checks that we will complete to verify your identity, we’ll take an image of your face so that it can be compared with your photo ID and thisbiometric datais captured.
Managing your Flexible Saver account
Managing your instant savings account couldn’t be easier with the NatWest Mobile Banking app. Here, you can perform instant transfers between accounts, monitor your spending and savings, set savings goals, and get help from our representatives.
You can also manage your instant savings account online. Or visit one of our local branches to discuss your needs with one of our advisers.
Instant access savings accounts - FAQs
Can you get a savings account in one day?
If you already have a NatWest bank account, you can open your account in as little as 24 hours. If you don’t hold a current account with us, you’ll need to open one, so the process can take a while longer. But everything should be ready within 10 working days.
How do I fund my Flexible Saver account?
When funding your newly opened savings account, a limit of £99,999 per day applies. However, the following day you can quickly and easily transfer money to your savings account any time you like via our mobile app or online banking if you have them, or you can call us or visit us in branch. You can transfer between two of your own accounts as many times you like (up to £99,999) per day.
Which savings account gives you the best interest?
There are a range of different savings accounts on the market that might offer a good interest rate. But these can go up and down, depending on the provider, your account terms, and the Bank of England base rate.
What happens if I close my current account?
If you close or switch your current account with us in the future, you will only be able to withdraw money from your flexible savings account in branch
How do I get additional support with my banking?
Banking My Wayis a free service that allows you to record information about the support or adjustments you need to make banking easier. You can also let us know any additional support you may need to ensure all our colleagues are aware of this.
The information will be shared on our internal systems. That means you won’t need to repeat these requirements every time you interact with us.
Once your instant savings account is open, you can record this through Online Banking, with our colleagues in branches or over the phone.
What happens if I close my Flexible Saver?
If you decide to close your instant savings account with us, you can arrange to transfer any remaining funds to a different account before closure.
Can I have a joint Flexible saver account?
Yes, we offer a joint Flexible Saver account. If someone else has started a joint application and you want to continue, just start applying below and choose the joint account option. Once you’re logged in, you’ll see your open application ready for you to review.
Learn more about joint savings accounts
Do I still earn interest if I cancel my standing order?
Yes, you’ll get the interest rate for the portion of your balance in each interest rate tier even if you stop saving however the standing order will help keep you in the savings habit.
What’s the difference between instant access and easy access savings accounts?
At NatWest, there is no difference between instant access and easy access - they both mean you can access your money at any time.
Want to reach your savings goals quicker?
How to start saving
Ready to start saving and take control of your financial future? Check out our guide to discover the benefits of using a savings account, how to save regularly, and how your savings can earn you interest.
Check out our guide to saving
Work towards your savings goals today
Got specific financial goals but don't know where to start? We're here to help. Discover the best strategies for saving towards your goals, and get tips for staying motivated along the way. Plus, explore tools and resources that could help track your progress and achieve your savings goals faster.
Learn how to set financial goals
Discover our savings accounts
Stash the cash for your future with one of our many savings accounts. Whether you're saving for the long term, or for a certain goal,we could have an account for you.Specific account eligibility criteria apply.
Take a peek at our savings accounts
