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Find the right savings account for you

Compare savings accounts

To apply you must be 16+ and hold a NatWest current account. Our App is available to personal customers aged 11+ using compatible iOS and Android devices. You'll need a UK or international phone number in specific countries.

What's a savings account?

A savings account pays an interest rate on money deposited into it. The amount paid varies and some may charge a fee for withdrawing money – both depend on the type of savings account you open.

We get into all of these types of accounts below – but, they're great for keeping your emergency fund or nest egg in, so that you can take cash out when life throws a curveball (or two) your way.

Different types of savings accounts

Here are the types of accounts you'll see we have and most other high-street banks offer.

Instant access savings account

Sometimes called easy access, these accounts let you withdraw money whenever you want without paying a penalty fee.

Regular savings account

These reward you for regularly depositing money – so, it may have a higher interest rate than instant access accounts.

Fixed rate savings account

These accounts require you to save money for a set amount of time with a fixed interest rate that doesn't change during this period. This rate is typically higher than instant or regular savings accounts provided you don't withdraw cash before the fixed term ends – if you do, then there is often a fee to pay.

Children's savings accounts

These are for under 17s (exact age varies by bank) and some can be managed by the child directly, others by the parent only. They're aimed at teaching your child the value of saving money to help set them up for success.

Find the right savings account for you

Choosing the right account could be easier than you think. Here are our four top things to keep in mind when comparing accounts.

Prioritise what you'll use the money for

If you need access to a specific amount of money within the next 12 months, then regularly depositing in a savings account may be the right option. Savings will grow over time as you put more money away and interest accrues on your balance. 

If you're saving for a longer-term goal, i.e. 5+ years or more, investing might be the right option for you. Note: the value of investments can go down as well as up, you may not get back the full amount of money invested.

How much you'll save

Some accounts offer better interest rates for being under or over a certain amount. Look for accounts that align with how much you plan to save.

Figure out how often you want to access the money

If you want to access your money instantly with zero charges, then an instant access account lets you do just that. If you want a set-in-stone interest rate and don’t need to touch the money for a while, then a fixed term account could be best for you. Note: fixed term accounts incur fees if you access the money earlier than the period agreed on.

Compare rates

It’s time to compare accounts now you know the type, how much you’ll save, and the kind of access you need. Look at accounts from different banks to find one with the best interest rate and T&Cs for you.

How to get going with a savings account

Here are the three steps to really get going with saving and help reach your goals.

1. Apply online

Most banks offer an online application service, and that includes us. You can sign up in less than 5 minutes online or in the app.

2. Deposit your money

You may be able to pay a lump sum in if you have one, or set up a standing order so your leftover income is saved before you get a chance to spend it.

3. Review your progress

Check in every now and then to see how you’re getting on. Are you saving more, or less, than you thought? Could you do more?

Can you have more than one savings account?

Yep, many people have savings accounts with more than one bank.

There may be restrictions on some accounts where you can only hold one of each type, for example you can only have one NatWest Digital Regular Saver in your name.

You may be able to hold multiple savings accounts with a single bank, for example you can have a NatWest Digital Regular Saver, Flexible Saver, and Cash ISA. It’s always best to check the terms of each account.

Compare our savings accounts

Find a savings account that could be right for you. Different account eligibility applies.

FAQs

Where next?

Choose from our range of savings accounts to get started.

Saving for something in particular? We've got some top tips.

Learn about the basics of saving and how to get started.