While high street banks have been slow to pass on Bank of England (BoE) rate rises, NatWest has recently upped its rates so Britons will now receive 3.25 percent interest on £150 every month.
To qualify for this attractive interest rate, people will need to be able to regularly commit to saving between £1 and £150 each month.
The exact amount can be adjusted at any point but the maximum customers can save every month is £150.
However, once the first goal of £1,000 is reached the interest rate lowers.
This is one of the best rates available for an easy 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.
It could be a great account for first time savers as it also has a Savings Goal Tool and a Round Up tool within its banking app.
Any 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 Direct – £150
- Lloyds Bank – £125
- Nationwide – £125.