e-Savings

Why choose an e-Savings account?

Flat rate– the interest rate stays the same, no matter how much you save

No penalties– we don't charge you for withdrawing your money

Start saving with £1- and there's no minimum balance

Monthly interest– paid directly into your account

No need for an existing NatWest account– although if you have one, it's quick and easy to move money between e-Savings and your other NatWest accounts

Get the savings habit– we can set up a regular transfer from another NatWest account

Set up and track your own personal savings goals- through Online Banking

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?

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.

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

How do I make a deposit?

It’s easy. You simply have to:

• make an electronic transfer from an existing NatWest account

OR

• pay a deposit by cheque from an account you hold with any UK bank

After this first deposit, you can pay money in by electronic transfer from any UK bank account. Looking to save regularly? You can also set up a standing order.

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.

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 personal accounts can be downloaded for our terms and conditions page.

Note: Internet based account only
Last updated on: 24 Jul 2009.

Replace and extend offer rate

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.

View summary box information

You can download terms and conditions for NatWest current accounts and savings accounts and information on fees and charges as PDFs.

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. Please read our leaflet Personal and Private Banking - A Guide to Fees and Interest which contains details of these charges.

NatWest Personal and Private Banking - Terms and Conditions(PDF File 330KB)

NatWest Personal and Private Banking - A Guide to Fees and Interest(PDF File 147KB)

NatWest Our Commitment to You(PDF File 235KB)

You may need Adobe Reader to view some of these documents. Get Adobe Reader. Visit access.adobe.com.

Because e-Savings is an online-only savings account, it's a great way to see how useful online banking can be. You can do more, do it faster - and take control of your savings.

Open all hours

Why ruin your lunch hour? With online banking, you can sort your account anytime - at home or at work.

Set a savings goal

A new car, holiday or a deposit on your first home? Whatever you're planning for, it's easy to set a savings goal - and track exactly how you're doing.

Savings goals show me more.

Do more, do it faster

Check your latest transactions as soon as you log in. Search through transactions - going back up to seven years. Or simply check your interest rate. With online banking, it's easy.

Transfer money between your accounts

So you need to move money between your NatWest accounts? It's easy. Just use the 'Quick transfer' box - we'll take care of the rest.

Safe and sound

Our security includes fraud detection, Rapport software for your computer and an easy-to-use Card-Reader. So your money stays safe.

Already bank online?

If you already bank online with NatWest you should automatically see your e-Savings account once it has been fully opened.

Not yet signed up to online banking?

It’s easy. You’ll be given the opportunity to sign up when applying for an e-Savings account.

Already have an e-Savings account?

If you’ve already got an e-Savings account, but not online banking, signing up is simple and you could get instant access. Sign up now if you already have an e-Savings account.

More about online banking.