Savings Direct
A flexible account that gives higher returns
Savings Direct could be the answer if you like to manage your account by phone, post or online. And the more you save, the more you earn.
Why choose a Savings Direct account?
Tiered interest rate – the more you save, the more interest you earn
Phone, post and online – manage your savings account your way
No penalties – we don't charge you for withdrawing your money
Start saving with £1 - and there's no minimum balance
Monthly interest – paid directly into your account
Fast transfers – it's quick and easy to move money between Savings Direct and your other NatWest accounts
Get the savings habit – we can set up a regular transfer from another NatWest account
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.
Current savings rates
| Balance | AER (variable) | Gross Rate | Net Rate |
|---|---|---|---|
| £250,000+ | 1.15% | 1.14% | 0.91% |
| £100,000 - £249,999 | 1.10% | 1.09% | 0.87% |
| £50,000 - £99,999 | 1.04% | 1.04% | 0.83% |
| £25,000 - £49,999 | 1.00% | 1.00% | 0.80% |
| £10,000 - £24,999 | 0.95% | 0.95% | 0.76% |
| £1 - £9,999 | 0.90% | 0.90% | 0.72% |
Interest paid monthly.
Note: Telephony, post and internet based account only
Last updated on: 2 Jan 2009.
Common definitions
Annual Equivalent Rate (AER). This is a notional rate used for interest bearing accounts which illustrates what the gross credit interest rate would be if paid and compounded on an annual basis. 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.
Important 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 302KB)
NatWest Personal and Private Banking - A Guide to Fees and Interest (PDF File 225KB)
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0800 592 933
Minicom
0800 917 0526
Lines are open: Mon to Fri 8am-8pm, Sat 9am-6pm
(excl. public holidays).
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