NatWest launches new digital savings account offering 4.5% interest

• NatWest has launched a new digital savings arm called First Active, offering an easy-access account with a competitive 4.5 per cent interest rate.
• First Active offers customers the same protections and assurance, just without in-branch assistance, serving customers via telephone, web chat, and email.
• The 4.5 per cent total rate is built with a 3 per cent base rate and a bonus of 1.5 per cent and First Active allows savers to open an account with as little as £1, with a £1m maximum.
• First Active's rate significantly beats the average easy-access savings rate of 2.52 per cent, according to Moneyfacts data, however the bonus only lasts for 12 months.
• The launch reflects a wider banking trend of introducing digital-only services.

IN FULL

Major bank launches new savings deal with some of best rates on the market