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NatWest IPB offers Platinum 1 and 2 year deposit

20th September 2011 Print

NatWest International Personal Banking (IPB) is offering Platinum Deposit, a 1 and 2 year account for savers looking for the security of fixed interest rates.

Platinum 1 and 2 year Deposit

The Platinum 1 and 2 year Deposit provides guaranteed rates and interest payments options. The account offers savers the choice of up to three interest options. For those savers who prefer, interest can be paid on a monthly basis or, at maturity (or annually in the case of the two year deposit).

Early withdrawal of part or whole of the deposit is subject to an administration fee of £250 and an interest adjustment of 180 days at the 2 year rate deposit rate or 90 days at the 1 year deposit rate. Where there is insufficient accrued interest to cover the administration fee or interest adjustment, the shortfall will be debited to the capital amount. At maturity, and in the absence of any alternative instruction, the deposit will be placed on a 1 month fixed term at the applicable rate at that time.

Dave Isley, Head of NatWest IPB comments "Platinum Deposit is a flexible account offering savers the option to fix interest rates for either 1 or 2 years. In uncertain times when interest rates remain volatile, fixed interest rates are an attractive option.

"We have listened to our customers and we know how valuable flexibility can be, which is why we are offering a choice of interest payment options on a monthly basis, at maturity or annually in the case of the 2 year deposit."