Savers looking for a new savings account might be tempted by NatWest’s Digital Regular Saver, as they can earn up to 3.25% interest.
While the big banks have been slow to pass on rate hikes by the Bank of England (BoE), NatWest recently hiked rates so Britons will now receive 3.25% interest on £150 per month.
To benefit from this attractive interest rate, people will need to be able to regularly commit to saving between £1 and £150 per month.
The exact amount can be adjusted at any time, but the maximum customers can save each month is £150.
However, once the first target of £1,000 is reached, the interest rate decreases.
READ MORE: Attendance allowance: Eight tips for completing the form and receiving £369
This is one of the best rates available for an easy-to-access savings account allowing customers to withdraw money at any time.
If a person deposits £150 per month, after 12 months the balance would be £1,825.58.
This could be a great account for new savers as it also has a savings goal tool and Round Up tool in its banking app.
Money saved with the Round Up tool will not count towards a customer’s monthly limit.
Currently, the best bank bribes are:
- HSBC – £170
- First Live – £150
- Lloyds Bank – £125
- Nationwide – £125.
/https://www.thestar.com/content/dam/thestar/business/personal_finance/advice/2022/05/10/after-a-raise-watch-out-for-lifestyle-creep-eating-into-potential-savings/20220509170548-e4bdc36b31c4b23417c3087b361dd900badd36dc9bc01f33572017ff64448953.jpg)