Changes for natwest customers with 'between £1 and £10,000' in bank account

NATWEST HAS CONFIRMED THAT IT WILL BE MAKING INTEREST RATE CHANGES TO A NUMBER OF ACCOUNTS 22:09, 26 May 2025 NatWest is set to overhaul its bank accounts in response to the Bank of

England's base rate reductions. The changes, scheduled to take effect from May 30, will impact various accounts, including cash ISAs, Flexible Savers, and Digital Regular Savers. A

spokesperson for NatWest announced: "Following the Bank of England base rate cut, we will be passing on the rate cut in full to our customers on a Standard Variable Rate (SVR)

mortgage." This means that the SVR will decrease from 7.49% to 7.24%, starting from June 1. Furthermore, SVR customers may have the option to switch to a fixed-rate mortgage,

potentially saving them money. The spokesperson added: "Following the Bank of England base rate cut, we have made reductions to some of our variable rate savings accounts. We will

communicate these changes to customers in due course, giving at least 14 days' notice of any changes. Details of these changes are available on our website now." However, rate cuts

for three other savings accounts and a children's current account will not be implemented until July 15, with varying dates for each reduction. According to the high street bank, which

competes with the likes of HSBC UK, Santander, Nationwide, and Lloyds, customers with over £5,000 in their accounts will see their AER decrease from 1.25% to 1.15%, reports Birmingham Live.

Meanwhile, interest rates for the Savings Builder account will drop from 2% to 1.75% for those with balances ranging from £1 to £10,000, effective from May 30. For those holding accounts

with balances over £10,000, the interest rate will fall from 1.25% to 1.15%. Holders of the Digital Regular Saver will witness their interest rate decrease from 6.17% Annual Equivalent Rate

(AER) to 5.5% AER starting May 30 for amounts ranging from £1 to £5,000. Article continues below WE HAVE A DEDICATED NEWSLETTER FOR CHRONICLELIVE’S MONEY-SAVING AND COST OF LIVING STORIES.

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This news arrives as NatWest has unveiled plans to broaden the scope of NatWest Thrive through a novel digital platform aimed at equipping young individuals with the tools to shape their

financial destinies. Originally launched as a youth club initiative, NatWest Thrive now amalgamates more than three decades of community endeavours by integrating MoneySense, CareerSense,

and Dream Bigger into a singular, complimentary online resource. Marg Jobling, Chief Marketing Officer at NatWest, commented: "We're on a mission to help young people turn

possibilities into progress, helping the next generation grow up money confident and achieve their life goals." She further elaborated: "To help us meet that commitment we've

made NatWest Thrive bigger and better by combining over 30 years of community programmes to help young people build their financial confidence." Article continues below Jobling also

highlighted the benefits of the platform, stating: "NatWest Thrive gives teachers, parents and youth workers access to bite sized pieces of real-world content and resources to help

inspire and empower young people to break through barriers and take action towards owning the future they want."