Online Banking
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Savings accounts
Whatever you're saving for, we can help
e-ISA
Earn tax free interest from 1.75% AER (variable)
- Existing NatWest Online Banking customers can open an e-ISA in less than 5 minutes
- Interest paid monthly
- Transfers in allowed – bring all your cash ISAs in one place
- Instant access – an easy to manage online only account
Don’t need instant access? Higher rates may be available with our
Fixed Rate ISA.
Get a rewarding rate of 1.00% AER/Gross p.a. (variable) with our online only instant access savings account
- Easy to manage with our Online Banking service
- Monthly interest paid directly into your account
Fixed Rate Bond: Internet Only Edition
Start saving with a balance of £2,000 and apply in minutes
- 1.40% AER/Gross p.a. (fixed) - Interest rate fixed until
17 July 2014 - Fixed term savings account with easy online application
- Save from £2,000 to £1,000,000
- No partial withdrawals or additional deposits - If you close
your bond early, there will be an interest charge equivalent to
90 days' gross interest
Our Savings tools
Watch our video to see how our NatWest Budgeting and Savings Goal Tools could help you save.
Savings goals
NatWest savings customers can now plan their savings with Online Banking. Simply choose the goal you are saving towards, calculate your ideal savings plan and track your progress.
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Financial Services Compensation Scheme
Your eligible deposits with National Westminster Bank Plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit protection scheme.
Any deposits you hold above the £85,000 limit are not covered.
Further information is available (PDF 3MB) or visit www.fscs.org.uk
More on the features and benefits of the e-ISA account
Earn tax free interest from 1.75% AER (variable)
Our current e-ISA rates
| Balance | AER (variable) | Gross p.a. (variable) |
|---|---|---|
| £30,000+ | 2.25% | 2.23% |
| £10,000 - £29,999 | 2.00% | 1.98% |
| £0 - £9,999 | 1.75% | 1.74% |
Interest paid monthly
Note: Internet based account only
Last updated 1st March 2013
Common definitions
Annual Equivalent Rate (AER). This is a notional rate used for interest bearing accounts which illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts
Gross. This means the interest rate you are paid before the deduction of income tax.
Features and benefits
Why choose a NatWest e-ISA?
- Earn tax free interest from 1.75% AER (variable)
- Save up to £5,760 in a cash ISA – this is the limit for tax year 2013/2014
- No penalties – we won’t charge you for withdrawing your money, However, if you decide to make a further deposit, remember that you can only deposit a maximum of £5,760 over the entire tax year.
- Monthly tax-free interest – paid directly into your account
- Get the savings habit – we can set up a regular transfer from your other NatWest account
- You can manage your NatWest e-ISA account easily online or on your mobile
- Set up and track your own personal savings goal for your account – through Online Banking
Tax free interest means interest payable is exempt from UK income tax
Transfer your existing cash ISAs
If you have other cash ISAs you can transfer them to us, find out more information on how to transfer your ISA.
How long does it take?
Your existing ISA provider has a maximum of five working days, or to the end of any required notice period, after receiving your transfer request to send your ISA monies to us. This period is specified within the ISA Regulations and HM Revenue & Customs (HMRC) ISA Guidance Notes for ISA Managers.
Partial transfers
If you only want to transfer part of your cash ISA balance to your NatWest ISA, you should first check with your existing ISA provider as their terms and conditions may not allow partial transfers.
Why choose a NatWest e-ISA?
- Earn up to 3.09% AER (variable) includes a bonus of 1.00% Gross p.a. (fixed) for 12 months added to the standard variable interest rate when you save over £30,000 in your e-ISA
- Save up to £5,340 tax free – in the tax year 2011/2012
- No withdrawal penalties – take money out whenever you want. Remember, you can only save up to £5,340 this tax year. If you take money out, you'll not be able to pay any money back in if you've already paid in the maximum cash ISA allowance that tax year.
- Monthly tax-free interest – calculated daily and paid monthly on the last business day directly into your account
- Get the savings habit – we can set up a regular transfer from your other NatWest account
- Manage your NatWest e-ISA online – we’re open 24 hours
- Set up and track your personal saving goal – with Online Banking
Tax free interest means interest payable is exempt from UK income tax.
- Are there any penalties?
- Can I transfer money in from more than one bank or building society?
- I’ve paid £1,000 of my current tax year allowance into a cash ISA with another provider. Can I open a NatWest cash ISA and pay in the remaining £4,340?
- Do I need to send a cheque for my initial deposit and who should I make it payable to?
- What should I enter in the initial deposit section if I’ve already fully subscribed my tax-free allowance for the year?
- I’m registered with Online Banking, how do I check what my cash ISA limit is?
Q. Are there any penalties?
A. No. You can withdraw your money or close your account at any time. We’ll simply pay interest on the daily cleared balance. Remember if you withdraw money you’ll not be able to pay any money back in if you’ve already paid in the maximum cash ISA allowance that tax year.
Q. Can I transfer money in from more than one cash ISA?
A. Yes. Simply fill out an ISA transfer form (PDF, 53KB) for each cash ISA you want to transfer.
Q. I’ve paid £1,000 of my current tax year allowance into a cash ISA with another provider. Can I open a NatWest cash ISA and pay in the remaining £4,340?
A. No, you can’t pay into more than one cash ISA in a tax year. However, you can pay the remainder of your annual allowance into your existing cash ISA with the other provider and then transfer it over to us.
Q. Do I need to send a cheque for my initial deposit and who should I make it payable to?
A. No, once your account has been opened we’ll write to you with instructions on how to make a deposit.
Q. What should I enter in the initial deposit section if I’ve already fully subscribed my tax-free allowance for the year?
A. Key in £1 initial deposit, select payment method cheque/cash and click that you do not wish to make regular savings. This will let you move through the screens. By enclosing the transfer form with your application we will be aware that you do not wish to deposit £1 therefore you will not be oversubscribing to your cash ISA.
Q. I’m registered with Online Banking, how do I check what my cash ISA limit is?
A. You can check how much you can pay/have paid in to your cash ISA account on the 'View Account Details' screen.
You can access that screen by selecting your cash ISA account on the 'Accounts Summary' and then selecting the 'View Account Details' button, near the bottom of the screen.
If you have not used any of your cash ISA allowance for the tax year, it will show the 'Deposits allowed this year'.
If you have used some, but not all, of your cash ISA allowance for the tax year, it will show the 'Deposits allowed this year' and 'Deposits so far this year'.
If you have used all of your cash ISA allowance for the tax year, it will show the 'Deposits so far this year'.
Online and mobile banking
We're the 2011 Your Money Best Online Banking Provider
Our online banking service helps you:
- Stay in control - looking after your savings is even easier
- Bank when it suits you - day and night
- Transfer money- make instant transfers to your NatWest account - and transfer money to other UK bank accounts
- Manage your account - check your balance and search through your transactions
- Stay safe - get an additional layer of security with our free security software
To sign up for online banking you need to have a NatWest account and be aged 16 or over.
System updates mean that online banking is unavailable for short periods in the early hours of the morning.
Mobile banking for iPhone, iPad, BlackBerry and Android
Mobile banking makes looking after your savings when you’re out and about even easier:
- Mini statements − see your last six transactions for your e-ISA and your other NatWest accounts
- Transfers − move money between your accounts
- Near me − locate NatWest branches and cash machines
To use mobile banking you must:
- Be a NatWest customer who is registered for Online Banking
- Have a NatWest personal account with a debit card
- Be over age 16 and have a mainland UK mobile number starting 07
NatWest doesn’t charge for any mobile banking services, however, your mobile network provider may charge depending on your tariff.
Standard data download charges may apply. Please contact your network operator for details.
ISA Guide
- What is an ISA and who can have one?
- How much can I put in to an ISA?
- Making withdrawals
- Choosing an ISA
- What happens to my ISA in the future?
- What to do next
An ISA is a tax efficient way to save. It stands for Individual Savings Account. With an ISA you pay little or no tax on the interest your savings and investments make.
There are two types of ISA:
- Cash ISAs — are tax-free. Interest payable is exempt from UK income tax. NatWest e-ISA is a type of cash ISA
- Stocks and shares ISAs – are tax efficient. They are a medium to long term investment so they should be held for at least five years. With stocks and shares ISAs, the value of your investment and any income you receive can go down as well as up and you may not get back your original investment.
Paying money into an ISA is called a subscription. You can subscribe to one cash ISA and one stocks and shares ISA in every tax year, and there’s a maximum amount you can pay into each one.
With some cash ISAs – such as the NatWest e-ISA − you have instant access to your money, so it can be a flexible way to plan your finances. Some cash ISAs have penalties for withdrawals where an interest charge applies if you access your funds early.
It’s important to remember that ISA allowance limits apply to everyone on an individual basis. If you’re married or in a relationship, you can both have an ISA, each with the full allowance.
To subscribe to an ISA:
- You must be aged 16 or over, or 18 or over to hold a stocks and shares ISA.
- You must be a resident and ordinarily resident in the UK
- You can subscribe to one cash ISA and one stocks and shares ISA in a tax year, but there are limits to how much you can save in each ISA.
There’s a yearly limit on the amount you can put in to an ISA. For the 2011/12 tax year the limit is £10,680. You can use this allowance in a variety of ways. You can:
Save up to £5,340 in a cash ISA
or
Save up to £10,680 in a stocks and shares ISA
or
Save up to £5,340 in a cash ISA and put the remainder of the £10,680 allowance into a stocks and shares ISA
If you put less than the full allowance into a cash ISA, you can use the rest of that limit to add into your stocks and shares ISA limit. For example, if you only choose to put £2,000 into a NatWest e-ISA, you can put up to £8,680 into a stocks and shares ISA.
If you withdraw money from your ISA, you can’t reinvest it in the same tax year if your total deposits will exceed your yearly allowance.
Using the e-ISA as an example:
| Your cash ISA yearly limit | £5,340 |
|---|---|
| You pay into your e-ISA | £2,100 |
| Your remaining tax-free allowance is | £3,240 |
| You then make a withdrawal of | £500 |
| Your remaining tax-free allowance is still | £3,240 |
| Overall possible saving by end of tax year | £4,840 |
There are two types of cash ISA:
- Variable Rate ISAs – where the interest rate can move up and down. They normally give you instant access to your money or a short notice period.
- Fixed Rate ISAs - where the interest rate is fixed for a period of time, and conditions often apply if you want to withdraw your money early
Your choice of stocks and shares ISA
You can choose from three types of stocks and shares ISA:
- Self-Select ISAs, where you choose what you want to invest in
- Actively Managed ISAs, where a team of experts manage your investments for you
- Passively Managed ISAs, (also known as tracker ISAs) where your money is invested so that it tracks a particular market or index, such as the FTSE 100.
With stocks and shares ISAs, the value of your investment and any income you may receive can go down as well as up and you may not get back your original investment.
Making future subscriptions
You can subscribe to a fixed rate cash ISA for a single tax year, but it can be fixed for a longer term, sometimes up to five years. In the next tax year, you can then open a new cash ISA which can either be fixed rate or variable rate.
You can keep a variable rate cash ISA and a stocks and shares ISA open year after year, paying into them in subsequent tax-years, up to your yearly allowance. However, if an entire tax-year goes by without a deposit being made into your cash ISA, you cannot make any further payments into it until you have reactivated your account.
How to reactivate your cash ISA
To reactivate your cash ISA, you simply need to complete a reactivation form.
Transferring an ISA
You can only open one cash and one stocks and shares ISA each tax year. If you want to move your current or previous cash ISA balances between providers, you can, without losing your tax-free entitlement.
Some cash ISA transfers can take up to 15 working days to process. Your new ISA provider will start to pay your interest from day 16 if the transfer process is not complete within this period. This lets you start earning interest from your new cash ISA account faster.
Don't forget to make sure that your new cash ISA provider allows transfers in, and that you open your new account in advance. It is possible to transfer your cash ISA balances into a stocks and shares ISA, however it is not possible to transfer stocks and shares ISA balances into a cash ISA.
There are a number of important factors which need to be considered before transferring a stocks & shares ISA. For more information on stocks & shares ISAs take a look at Tax efficient investments.
If you already subscribe to an ISA, you can continue saving in your existing ISA in the new tax year, or you can open a new ISA.
You can subscribe to one cash ISA and one stocks and shares ISA in a tax year. Don’t forget, the tax year ends on 5 April – make sure you take advantage of this year's allowance before it’s too late.
Setting up a new NatWest e-ISA is simple and you can apply online. You’ll need the following information to set up an e-ISA:
- Your National Insurance number
- One form of evidence of your identity – such as a current passport, full UK driving licence, a benefit book or UK armed forces identity card
- One form of evidence of your address – such as an original gas, electricity, phone or council tax bill, an original bank or building society statement
All documents should be the most recent you have, and no more than six months old.
How to transfer your existing cash ISAs to NatWest
It’s easy to transfer your existing cash ISAs (including TESSA ISAs) to NatWest. Here’s how:
Once your new cash ISA is open, simply complete an ISA transfer form ( PDF File 53KB) for each cash ISA you want to transfer. Print it, and send it to:
Central Tax Unit
9th Floor, 1 Hardman Boulevard
Manchester M3 3AQ
If you'd like more information on how to transfer your ISA, here is a simple guide ( PDF File 354KB) provided by the British Bankers Association
How long does it take?
Your existing ISA provider has a maximum of five working days, or to the end of any required notice period, after receiving your transfer request to send your ISA monies to us. This period is specified within the ISA Regulations and Her Majesty’s Revenue & Customs (HMRC) ISA Guidance Notes for ISA Managers.
Partial transfers
If you only want to transfer part of your cash ISA balance to your NatWest ISA, you should first check with your existing ISA provider as their terms and conditions may not allow partial transfers.
Interest rates
These are the current interest rates for e-ISA.
Interest rates for customers who open an e-ISA on or after 1st March 2012 and includes a bonus of 1% Gross pa (fixed) for 12 months. After the 12 month bonus period, interest will automatically revert to the Standard Rates indicated.
| Balance | Bonus Rate | Standard Rate | ||
|---|---|---|---|---|
| AER (variable) | Gross pa | AER (variable) | Gross pa | |
| £30,000+ | 3.09% | 3.23% | 2.25% | 2.23% |
| £10,000 - £29,999 | 2.84% | 2.98% | 2.00% | 1.98% |
| £0 - £9,999 | 2.59% | 2.74% | 1.75% | 1.74% |
Interest paid monthly. Internet based account only. Last updated 1st March 2012.
Common definitions
Annual Equivalent Rate (AER). This is a notional rate used for interest bearing accounts which illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts.
Gross Rate. This means the interest rate you are paid before the deduction of income tax.
View information sheet and summary box information ( PDF File 70KB)
Important information
We sometimes allow savings accounts to be operated in a way which enables the customer to give instructions for a withdrawal or other payment which cannot be met from the funds in the account. If this happens, we may apply charges to the account.
NatWest Personal and Private Banking - Terms and Conditions ( PDF File 938KB)
Tax relief
Tax reliefs referred to are those applying under current UK legislation, which may change. The favourable tax treatment for ISAs may not be maintained. The availability of any tax relief will depend on your individual circumstances. The rate of interest depends on your individual circumstances and may be subject to change in the future.
e ISA Standard Rates
| Balance | AER (variable) | Gross pa |
|---|---|---|
| £30,000+ | 2.25% | 2.23% |
| £10,000 - £29,999 | 2.00% | 1.98% |
| £0 - £9,999 | 1.75% | 1.74% |
NatWest Budget and Savings goal tools
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