Natwest increases savings allowance on account offering 5% interest

There is no maximum balance limit, however, the higher interest rate will only apply to balances up to and including £5,000.

Account users can withdraw their money at any time.

Commenting on the rate, Kevin Mountford, savings expert and co-founder of Raisin told Express.co.uk: “It’s good to see that increasingly there are better rates coming from the high street banks.

“The NatWest regular saver isn’t the best on the market but it is competitive and will no doubt attract new deposits.