NatWest Launches £ 1,000 Cash Prize Contest on Its 3% Savings Account – Rules Explained | Personal Finances | Finance
NatWest today announced a new savings contest which opened to savers in August. The competition will reward 10 clients with Â£ 1000 for opening an account and developing a regular saving habit.
To have a chance to win, customers simply need to open a Digital Regular Saver account in August, set up a standing order between Â£ 1 and Â£ 50, and make payments in September, October and November.
Winners will be selected in December with 10 customers earning Â£ 1,000.
NatWest seemed to have young savers in mind for this, as it revealed that setting a savings goal is more popular among 21-30 year olds and clients who set a savings goal are more likely to achieve their goal than those who do not. have a goal.
The bank details Customers between the ages of 41 and 50 are the least likely to set a goal.
READ MORE: Savings warning: Retirees facing an emergency ‘cash shortage’
Lewis Broadie, NatWest savings expert, commented: âWe hope the added incentive to earn Â£ 1,000 in time for Christmas will help encourage more clients to start building a savings pot.
In addition to these offerings, NatWest also offers a range of savings tools to help customers save, including a savings goal tool in the bank’s mobile app and âSpendingâ which helps customers save money. budget.
For the Digital Regular Saver, it should also be noted that 0.01% interest is payable on money added above the Â£ 1,000 threshold.
Interest is calculated daily and paid into the account on the first business day of the month.
In addition to the Digital Regular Saver account, NatWest currently offers the following offers:
- Savings generator – zero percent interest
- Instant savings – 0.01% AER
- Premium Saver – 0.05% on balances between Â£ 25,000 and Â£ 1,000,000
- First Saver – 0.35% on Â£ 1 + sales
- Fixed rate ISA – 0.10% AER
- Cash ISA – 0.01% on balances from Â£ 1 to Â£ 49,999