NatWest is offering 3% interest rate on savings9 Mar 2021 11:23
& chance to win £1,000...- deadline to note
NATWEST announced the launch of a new savings competition last week, meaning customers could be in with the chance of winning a £1,000 prize.
The Save and Win competition comes as NatWest continues its campaign to encourage first-time savers to begin saving money on a regular basis. The competition began on March 1, 2020, with 10 customers each being awarded £1,000 for opening an account and saving regularly...
It's possible to enter by opening a Digital Regular Saver account before 5.30pm on March 31.
The saver will then need to save between £1 and £50 into the account in April, May and June.
The winners will be selected later this year, in July.
There are 10 prizes of £1,000 up for grabs.
In order to apply, customers must already hold a current account with NatWest.
Over the last year 650,000 customers started saving for the first time.
The bank says it is aiming to help two million customers to start saving by 2023 and help increase financial capability.
Unlike other regular savings accounts, the Digital Regular Saver doesn't close after one year.
It also allows for withdrawals, without needing to close the account.
Interest on the account is paid monthly, with the top rate of three percent interest being paid on balances of up to £1,000.
It should be noted this interest rate is variable, meaning it could change.
We’ll give you at least 14 days’ notice if the rates are going down and your balance is £100 or more," the NatWest website states.
"Otherwise we’ll tell you before or shortly after the change."
The interest rate on balances over £1,000 drops substantially to 0.01 percent AER/gross pa (variable).
Lewis Broadie, NatWest’s Savings Expert said: “Since the launch of the Digital Regular Saver we have seen that once customers begin to save they develop a really good savings habit and with the added incentive of a chance to win £1,000 we hope to help even more customers kickstart a savings habit.”
https://www.express.co.uk/finance/personalfinance/1407177/NatWest-savings-account-accounts-interest-rates-uk
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