NatWest increases interest rates on ten savings accounts
NatWest interest rate changes have come into effect this week
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NatWest has increased interest rates across 10 different savings accounts.
The changes came into effect this week on Wednesday August 23.
The bank has emailed savers, explaining that “some of our savings rates are rising again”.
The Digital Regular Saver continues to offer 6.17 per cent AER/six per cent gross on balances between £1 and £5,000.
NatWest customers were contacted about the changes
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However, balances over £5,000 will rise from 1.41 per cent/1.40 per cent AER to 1.75 per cent/1.74 per cent.
Among the other changes are increases to the Flexible Saver, Instant Saver, Primary Savings and Cash ISA.
The Help to Buy ISA rate is also increasing, from 2.53 per cent/2.50 per cent to 2.70 per cent/2.67 per cent.
The interest rates on the First Saver, Adapt Account, First Reserve and Savings Building.
In other savings news this week, Beehive Money has increased the interest rate on its Bonus Saver August 2024.
It now pays 4.90 per payable yearly, including a bonus of 2.25 per cent until August 31, 2024.
Rachel Springall, finance expert at Moneyfactscompare.co.uk, said: “The account grabs a position towards the top of its sector and may attract savers who have £1,000 to invest.
“The account does include an introductory bonus rate of 2.25 per cent which runs until August 31, 2024, so a review of the account before this expires would be wise. Overall, this receives an Excellent Moneyfacts product rating.”
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NatWest's Help to Buy ISA rate is also increasing
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The finance expert also shone a light on the recently increased interest rate on Oxbury Bank’s Personal Easy Access Account (Issue 1).
Ms Springall said: “Oxbury Bank has increased the rate on its Personal Easy Access Account this week, which takes a prominent position in the easy access savings sector.
“The account pays an attractive rate of 4.75 per cent gross and may entice savers looking for flexibility with their cash as the account allows unlimited withdrawals.
“Savers must note that their initial deposit must be made within the first 90 days of account opening or the account will close automatically.”
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