First Reserve

Why choose a First Reserve account?

Phone, in-branch and online – manage your savings account your way

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

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

Quarterly interest – paid directly into your account

Fast transfers – it's quick and easy to move money between First Reserve and your other NatWest accounts

Get the savings habit – set up a standing order and watch your savings grow

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

Cash machine withdrawals – with an optional debit card you can get your money at cash machines displaying the logo shown on your card

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.

Interest paid quarterly.
Last updated on: 24 Jul 2009.

Offset banking

If you choose to offset your First Reserve balance against your Offset Flexible Mortgage, you won't earn interest on the money in your First Reserve account as that balance is being used to reduce the interest you pay on your mortgage. If your First Reserve balance is higher than your mortgage balance, you will earn interest monthly on the amount over and above your outstanding Offset Flexible Mortgage balance. See our Offset Banking page for more information.

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 225KB)

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

Online banking makes it easy to get the most from your First Reserve account. You can transfer money in and out, online, as often as you want – with no penalties.

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 First Reserve 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 a First Reserve account.

Already have a First Reserve account?

If you’ve already got a First Reserve account, but not online banking, signing up is simple and you could get instant access. Sign up now if you already have a First Reserve account.

More about online banking.