Digital Regular Saver

No, but it helps keep you in the savings habit. You’ll still receive the highest interest rate on your balance up to £5,000.

Yes. But when added together, your lump sum deposit and standing order can’t go over £150 per calendar month. Once your regular savings account is open, you can make a deposit via online or mobile banking.

Yes. You’ll get the interest rate for the portion of your balance in each tier, even if you stop saving. However, a standing order could help keep you in the savings habit.

You can only have one Digital Regular Saver and it needs to be in your name.

However, you could open a Flexible Saver account too. This also gives you instant access to your money.

You can make as many deposits as you like into your Digital Regular Saver, so long as you don’t go above £150 a month. This way, you can start with your standing order and top up as the month goes along. Plus, Round Ups don’t count towards your total. Put your spare change to work!

Don’t worry – if you have to stop saving, we’ll continue to pay interest on what you’ve already paid in to your regular saver account. And with our mobile banking app, you’re always in control of your savings.

What happens if I exceed the £150 monthly deposit limit?

Any amount over £150 will be automatically returned to your current account and you’ll receive an SMS confirmation. If you repeatedly go over the limit, you’ll be given 60 days’ notice to close the account.

Yes, Digital Regular Saver is an instant access account. So, you can get easy access to your savings as and when you need them.

Round Ups can help make saving easy. You can save spare change from the everyday things you buy and put it in your savings account.

Say you pay for something with your debit card or contactless device for £2.30. With the Round Ups tool, we’d round this up to the nearest pound, and send the spare change to your savings account – in this case 70p.

Any money added from Round Ups to a Digital Regular Saver won’t count towards your £150 monthly limit.

Different banks offer different products. So, shopping around and comparing might help you find the best saving account rates.

Just remember that the best regular saver rates aren’t the only thing to compare. For example, some accounts may restrict access to your cash. This means the best regular savings account for over 60s could be different to someone in their 20s or 30s.

A cash ISA is a savings account with added tax benefits. You don’t have to pay tax on any interest your money earns. But there’s a £20,000 annual allowance, which limits what you can save each year.

In contrast, interest earned on regular savings accounts may be taxable.

Savings accounts with high interest rates are sometimes called ‘high yield’. But to get these rates, you may need to pay in a certain amount of money. Or lock your cash away for a while.

On the other hand, our regular savings account doesn’t have a minimum opening deposit. And you can take your money out whenever you like.

What are the pros and cons of a regular savings account?

Regular savings accounts can help you build a saving habit by encouraging you to save a set amount each month automatically. They may also offer higher interest rates than some other saving accounts, while still allowing access to your money when needed withou locking it away.

However, there are some limitations to consider. Regular savings accounts often have monthly deposit limits, meaning you can only save up to a certain amount each month. Interest rates may also change over time as they are usually variable. Some accouns, including the Digital Regular Saver, are designed for existing customers and may require you to hold a NatWest current account before applying.