There’s no minimum balance with an e-Savings account – you can start saving from just £1. And we pay the same rate of interest on all e-Savings accounts, no matter what your balance is.
- Monthly interest
We pay interest on your account balance every month, and it’s paid straight into your account.
With online banking, you can make withdrawals whenever you want – including evenings and weekends.
You can withdraw some or all of your savings at any time. If you pay it into another NatWest account your money will be transferred immediately. If you make a transfer to a non-NatWest account it may take a little longer.
- Our award winning online banking service is simple and secure
Our online banking satisfaction survey (February 2010) found that 96.1% of NatWest Personal Banking customers who responded would recommend our service to a friend.
We’re the 2010 Your Money Best Online Banking Provider.
Our online banking service helps you:
- Stay in control- online banking with your e-Savings account makes looking after your money even easier
- Bank when it suits you- day and night, you can do your banking whenever it suits you
- Transfer money- make instant transfers to any NatWest account - and transfer money to any other UK bank account
- Stay safe- with free security software, card readers and secure servers, we're working hard to beat the fraudsters
- Mobile banking
Our free mobile phone banking service keeps you up to date with your savings when you’re out and about – including balance updates and mini statements. Network charges may apply.
- Mobile banking on your iPhone and iPad
If you use online banking, you can download our free iPhone and iPad apps and:
- Transfer funds between your NatWest accounts
- Check your balance and recent transactions
- Set up alerts to help you manage your money
- Top-up your pay-as-you-go mobile
- Use our branch and cash machine locator
- Eligibility
To use our iPhone and iPad apps you need to be a NatWest customer who is registered for Online Banking, have a NW personal account with a debit card, be over age 16 and have a mainland UK mobile number starting 07.
With an e-Savings account you can save as much or as little as you want every month. You can even pay in lump sums or take a break from saving for a while if you have other commitments – it’s up to you.
- Save every month – set up a regular transfer from another NatWest account. You decide how much to pay in and when, and you can change this whenever you like
- Set up a standing order – and make regular payments from an account with another bank
- Make one-off savings – if you find yourself with an unexpected windfall – such as a bonus or gift
Once you’ve started saving you’ll find it’s a habit that’s hard to break.
Saving for a new car, dream holiday or a house deposit? Whatever you’re saving for, you can keep an eye on how you’re doing when you bank online.
With our online savings tracker, you decide how much money you need and when you need it. You can then select a savings plan that helps you meet your goal – every time you log in to online banking you’ll be able to see your progress.
And if you have a joint e-Savings account you can share your savings goal with the other person, so you can both see how your savings are growing.
e-Savings calculator
Calculate your savings growth over time
Calculate how to achieve your savings goal
Opening your e-Savings account
- How long does it take to open an e-Savings account?
- What happens after I apply?
- How do I know my account is open?
- Can I open the account in branch?
- Do I need an existing NatWest account?
- Can I have more than one e-Savings account?
- Can I have a joint account?
- I’m an existing customer, but I’m not registered for online banking. Can I have an e-Savings account?
Using your e-Savings account
- How do I make a deposit?
- How do I make withdrawals?
- How do I register for online banking?
- Is it easy to close the account?
Bonus offer and interest rate
Opening your e-Savings account
How long does it take to open an e-Savings account?
Are you an existing NatWest online banking customer? We’ll open your e-Savings account straightaway if you don’t make any changes to your personal details.
New to NatWest? It takes no more than three weeks to open a new e-Savings account. Often it is quicker. You will need to provide identification to open the account so the length of time will depend on how quickly you can provide this to us.
What happens after I apply?
We’ll send a letter confirming all your details – simply sign and return this.
Existing NatWest customer? In the letter, we’ll ask you to confirm your application - it's important you sign and return the form. By doing this you'll make sure your cash transfers and standing orders are set up.
New to NatWest? In the letter, we’ll also ask you to send identification documents. Once we’ve received these documents, we’ll check them and return them to you.
And that’s it – your e-Savings account is ready to use. We’ll send a confirmation letter, which includes your account number and sort code.
We’ll also confirm your online banking login details. Once you’ve activated online banking you can start using your e-Savings account.
How do I know my account is open?
We will write to you. In the letter we’ll include a note of your account number and sort code.
Can I open the account in branch?
No - e-Savings is an internet-only account. However, it’s quick and easy to apply online. To use your e-Savings account you’ll need to register for online banking.
Do I need an existing NatWest account?
No. You don’t need to have another account with us to open an e-Savings account.
Can I have more than one e-Savings account?
Yes.
Can I have a joint account?
Yes.
I’m an existing customer, but I’m not registered for online banking. Can I have an e-Savings account?
Yes you can – but you will need to register for online banking in order to open and use this account. It takes approximately 5 days and we don’t charge for our online banking service. Why not sign up today – and start accessing your existing accounts? More on online banking
Using your e-Savings account
How do I make a deposit?
It's easy, once you have your account details you can pay money in by electronic transfer from any NatWest account. You can also set up a standing order from any UK bank account.
How do I make withdrawals?
Simply make an electronic payment from your e-Savings account to any other UK bank account. To ensure your funds remain safe, you will need to use your card reader.
How do I register for online banking?
Online banking – overview
Take the online banking tour
Sign up now
Is it easy to close my e-Savings account?
Yes – although obviously we hope you’ll choose to keep your account open. To close your account, simply write to: FREEPOST RRAB-CXSB-RAGL, NatWest Bank, West Yorkshire, Retail CSC, 1 Victoria Place, Holbeck, LS11 5AN.
Bonus Offer and Interest Rate
How do I qualify for the bonus?
If you opened an e-Savings account between 29 September 2010 and 20 October 2010 then you qualify for a bonus of 1.85% Gross for 12 months.
When is interest paid?
We calculate interest on the daily cleared balance in your account. We pay your interest on the last working day of every month.
When is the bonus paid?
You’ll start earning interest on the 15th day of the month after the month in which you open your account. Your bonus interest will be paid on the last working day of every month for 12 months (along with the standard interest payment).
This page provides the current interest rates that apply to this account. We have a separate page for previous savings interest rates.
Full copies of the fees and rates, and terms and conditions that apply to our current accounts and savings accounts can be downloaded from our terms and conditions page.
Current savings rates
Excluding bonus
| Balance | AER (variable) | Gross Rate % p.a. | Net Rate % p.a. |
|---|---|---|---|
| £1+ | 1.00% | 1.00% | 0.80% |
Note: Internet based account only
Last updated on: 29 Sep 2010.
Including 1.85% bonus
Limited period offer for customers who applied for an e-Savings account between 29 September 2010 and 20 October 2010.
The bonus interest is earned from the 15th of the month following the month in which the account was opened. It is paid monthly along with the standard interest payment.
| Balance | AER (variable) | Gross Rate % p.a. | Net Rate % p.a. |
|---|---|---|---|
| £1+ | 2.89% | 2.85% | 2.28% |
Last updated on: 29 Sep 2010.
Common definitions
Annual Equivalent Rate (AER). This is a notional rate used for interest bearing accounts which illustrates what the interest would be 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.
Net Rate. This means the interest rate you are paid after the deduction of income tax.
Important information
You can download terms and conditions for NatWest current accounts and savings accounts and information on fees and charges as PDFs.
NatWest Personal and Private Banking - Terms and Conditions(PDF File 510KB)
You may need Adobe Reader to view some of these documents. Get Adobe Reader. Visit access.adobe.com.
What are you
saving for?
It’s easy to track how your savings are doing against your goal.
- Decide how much you need
- Decide when you need it
- Select a savings plan
- Track your progress online
Set up your savings goal when you use online banking