The bank has told its customers an easy way to earn some extra money on the side, and the good news is that it’s available to all customers; however, it may take some time
NatWest has revealed how customers can boost their bank balances by hundreds of pounds. The bank is directing households towards their Fixed Term Savings accounts, which enable people to lock money away for either one or two years.
If you’ve been looking for ways to make extra money, NatWest’s got your back – but it might take some time. According to Natwest’s Savings Index 2025, the UK saves an average of £226 a month, with Londoners having the highest UK savings rate of £290.
This could be a straightforward way for households to generate some additional income and for those who have a lump sum to put away. It comes as major bank warns customers over a little-known 30-day rule that many tend to forget.
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To earn some extra money on the side, NatWest is rewarding new and existing customers. The Fixed Term Savings account provides 3.8% AER for one year and 3.75% for two years. Customers need to have at least £1 in the account to qualify, but in reality, they will want to invest much more to benefit from the interest rates. For example, someone depositing £10,000 into the one-year account would earn £380 extra in interest at the end of the year.
Brits are urged to do their research to find the best savings accounts to grow their money. Millions remain with accounts at 2% or less, which experts say should be abandoned, reports Birmingham Live.
NatWest said of the account: “Put your money away for your future with our fixed term, fixed rate savings account. Here’s how this account could help you to save: Fix your savings account’s interest rates, so you know the amount of interest you’ll get paid.”
Have interest paid monthly on your savings, as well as at maturity. Choose a term that will suit you – for either 1 or 2 years. They added: “Fix your savings pot on balances between £1 – £5,000,000. £1 minimum deposit.”
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How to open a Fixed Term Savings Account?
Before you apply, you must be:
- Aged 16 or over
- A UK resident
- A sole applicant – the account cannot be opened in joint names
If you’re already a NatWest customer, you can open a Fixed Term Savings Account on your mobile app or online. If not, customers will need to open an account with the bank.
Remember that balance at the Fixed Term Start Date must have a minimum amount of £1, and the maximum deposit is £5,000,000. You can find more information about by clicking here.