Natwest & RBS launch new accounts for more mature savers

NatWest and RBS have introduced two new competitive accounts for the more mature saver, both offering attractive interest rates at least 1.25% above current base rate.

The Pensioner Fixed Rate Account is a 2 year account offering a fixed rate of up to 4.00% gross for the full term and is available to individuals from 3 February 2009, who are aged 60 or over, or to those who can confirm they are drawing a pension.

The account has a minimum balance requirement of £5,000 with no maximum subscription and the start date of the fixed two year term is 16 March 2009, maturing 16 March 2011.

In addition, NatWest has introduced the Telephone Saver PLUS, an instant access account available to the over 50's with a top rate of 2.80% AER, including a 12 month bonus of 0.78% gross. The account requires a minimum balance of £25,000 and has no maximum subscription limit. Customers may make unlimited withdrawals without penalty and keep track of their savings via telephone or online banking. The account is available for a limited period and those wishing to apply may do so via telephone until 16 March 2009.

Carol Sleith, Head of Savings said: "Many individuals over the age of 50 rely on their savings for income, especially during times of financial uncertainty. By introducing two new accounts, we are able to further meet the savings needs of our customers and offer a choice of ways to save. The Pensioner Fixed Rate Account provides a longer term savings option for customers whilst the Telephone Saver PLUS provides an opportunity for customers to make the most of their money for the short term. Both accounts offer a regular monthly income with a competitive interest rate."

For more information or to apply for the Pensioner Fixed Rate Account, customers may visit any branch of NatWest or The Royal Bank of Scotland. For more information on the Telephone Saver PLUS, log onto natwest.com