Press Room

NatWest Increases Savings Rates By Full Amount
(24 May 2004)

NatWest has increased its savings rates following the Bank of England's recent decision to increase base rate by 0.25%. Savers will benefit from Tuesday, 1 June.

Interest rates on NatWest's First Reserve, Diamond Reserve, Reward Reserve, Savings Direct, TESSA Only ISA, Young Saver, Advantage Reserve and Private Banking Savings Account will be increased by the full 0.25%. The 90 Day Bonus Reserve increased by 0.25% on 14 May.

Some products will also benefit from an increase of over 0.25%. Those with up to £10,000 in an e savings account have seen an increase of 0.65% from 14 May. Customers with more than £15,000 in a Mini Cash ISA will receive an increase of 0.35%.

NatWest's standard variable mortgage rate (SVR) will increase by 0.25% to 6.29%. The rate change is effective from 1 June 2004 for new and existing customers.

First Reserve

	Current Rate	New Rate from 3 June
	Base Rate 4.00%	Base Rate 4.25%
Balance £50,000 +	1.00	1.25
Balance £25,000 - £49,999	1.00	1.25
Balance £10,000 - £24,999	1.00	1.25
Balance £5,000 - £9,999	0.95	1.20
Balance £0 - £4,999	0.70	0.95

Reward

Excluding all interest rewards	Current Rate	New Rate from 1 June
	Base Rate 4.00%	Base Rate 4.25%
Balance £50,000 +	1.15	1.40
Balance £25,000 - £50,000	1.05	1.30
Balance £10,000 - £25,000	0.90	1.15
Balance £2,000 - £10,000	0.45	0.70

Reward

Including all interest rewards	Current Rate	New Rate from 1 June
Tiers	Base Rate 4.00%	Base Rate 4.25%
Balance £50,000 +	2.75	3.00
Balance £25,000 - £50,000	2.65	2.90
Balance £10,000 - £25,000	2.50	2.75
Balance £2,000 - £10,000	2.05	2.30

Diamond Reserve

	Current Rate	New Rate from 1 June
	Base Rate 4.00%	Base Rate 4.25%
Balance £250,000 +	2.90	3.15
Balance £100,000 - £249,999	2.75	3.00
Balance £50,000 - £99,999	2.40	2.60
Balance £25,000 - £49,999	1.50	1.75
Balance £10,000 - £24,999	1.15	1.40
Balance £2,000 - £9,999	1.00	1.25

Savings Direct

	Current Rate	New Rate from 1 June
Tiers	Base Rate 4.00%	Base Rate 4.25%
Balance £250,000 +	3.60	3.85
Balance £100,000 - £249,999	3.45	3.70
Balance £50,000 - £99,999	3.40	3.65
Balance £25,000 - £49,999	3.30	3.55
Balance £10,000 - £24,999	3.20	3.45
Balance £5,000 - £9,999	3.00	3.25
Balance £0 - £4,999	2.90	3.15

e-savings

	Current Rate	Already moved Friday, 14 May
	Base Rate 4.00%	Base Rate 4.25%
Balance £250,000 +	3.90	4.10
Balance £50,000 - £249,999	3.75	4.10
Balance £10,000 - £49,999	3.50	3.75
Balance £0 - £9,999	3.10	3.75

90 Day Bonus Reserve (including bonus)

	Current Rate	Already moved Friday, 14 May
	Base Rate 4.00%	Base Rate 4.25%
Balance £250,000 +	4.00	4.25
Balance £100,000 - £249,999	4.00	4.25
Balance £50,000 - £99,999	3.90	4.15
Balance £35,000 - £49,999	3.65	3.90
Balance £20,000 - £34,999	3.65	3.90
Balance £10,000 - £19,999	3.45	3.70

Advantage Reserve

	Current Rate	New Rate from 1 June
	Base Rate 4.00%	Base Rate 4.25%
Balance £250,000 +	3.70	3.95
Balance £100,000 - £249,999	3.60	3.85
Balance £50,000 - £99,999	3.50	3.75
Balance £25,000 - £49,999	3.30	3.55
Balance £10,000 - £24,999	3.00	3.25
Balance £5,000 - £10,000	2.70	2.95

Private Banking Savings Account

	Current Rate	New Rate from 1 June
	Base Rate 4.00%	Base Rate 4.25%
Balance £250,000 +	3.40	3.65
Balance £100,000 - £249,999	3.35	3.60
Balance £50,000 - £99,999	3.20	3.45
Balance £25,000 - £49,999	3.05	3.30
Balance £10,000 - £24,999	2.90	3.15
Balance £5,000 - £10,000	2.40	2.65

Mini Cash ISA

	Current Rate	New Rate from 1 June
	Base Rate 4.00%	Base Rate 4.25%
£1 - £15,000	4.00	4.25
£15,000 +	4.00%	4.35%

TESSA Only ISA

Current Rate	New Rate from 1 June
Base Rate 4.00%	Base Rate 4.25%
4.00%	4.25%

Young Saver

	Current Rate	New Rate from 9 February
	Base Rate 4.00%	Base Rate 4.25%
No minimum balance	3.60%	3.85%

Enquiries to:
Media Relations
Tel: 020 7672 1927

Press Room

NatWest Increases Savings Rates By Full Amount (24 May 2004)

NatWest Increases Savings Rates By Full Amount
(24 May 2004)