Martin Lewis reveals top easy access savings accounts
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NatWest customers have the chance to win £5,000 and an additional 30 runners-up could win £350 if they switch on ‘Round-Ups’ to their chosen savings account. Customers will also receive five percent interest on all balances up to £5,000 – up from £1,000 – with a Digital Regular Saver account.
All customers have to do to enter the competition is turn on the Round Ups feature before November 30 on their NatWest banking app and they will be automatically entered.
The Round Ups feature makes it easy for customers to round up the cost of a purchase to the nearest pound with the spare change automatically paid into a NatWest savings account.
If a customer uses their debit card to spend £2.55 on a coffee, it will be rounded up to £3 and 45p will be added to the customer’s Digital Regular Saver account or other easy access savings account.
Lewis Broadie, NatWest’s Savings Expert said: “Round Ups makes it simple for customers to save and with the added incentive of winning a £5000, we hope to help even more customers to achieve their savings goals.”
The Digital Regular Saver account is the bank’s highest-paying interest account with a current rate of five percent.
NatWest recently also introduced Double Ups which enable customers to save double their spare change.
The Digital Regular Saver account is designed to help customers with little, or no savings, develop a savings habit and does not expire after a year and allows for unlimited withdrawals.
Customers are not penalised for failing to make a monthly payment and monthly interest of 5 percent is paid on balances of up to £1000 which will increase to £5000 from December 6 2022.
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Savers can put away £150 a month into a Digital Regular Saver.and need to be 16-years-old to open a savings account.
NatWest is also offering new customers £175 to switch from their old bank account using the seven-day Current Account Switch Service (CASS).
Britons who want to save more than £5,000 might be interested in this savings account offering a 4.85 percent interest rate on savings up to one million pounds.
The Secure Trust Bank savings account could be an option for anyone with a minimum investment of £1,000 who can afford to lock away their money for at least two years.
Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said: “Secure Trust Bank has launched new fixed bonds this week, including a two-year option.
“Paying a rate of 4.85 percent, the deal takes a more prominent place in the market against its peers and can be opened from £1,000 and further additions can be made within the first 30 days of opening the account.
“Savers looking to earn an attractive rate over the next two years may then find this an appealing option. The account secures an Excellent Moneyfacts product rating.”
Atom bank has just launched a nine-month fixed-rate savings product which offers an interest rate of 3.95 percent.
One of the best easy access savings accounts with high interest right now is the Tandem Instant Access saver which is offering 2.5 percent interest on up to £250,000.
Money Saving Expert founder Martin Lewis also highlighted it as a top pick on his Money Show on ITV on Tuesday as well as in his weekly MSE newsletter.
In the MSE newsletter, he said: “The base rate move didn’t change much at the top of the best-buy tables, but if you didn’t act on last week’s email, check what your savings pay now.
“Most are less than one percent and that just isn’t good enough. There is a chance rates may creep up a bit more, but most people are losing out so much by holding off, just ditch and switch now.”
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