New launches from NatWest International

NatWest International Personal Banking (IPB) has launched the Platinum Deposit range, a 1 and 2 year account for expat savers who want the security of fixed interest rates. These two new deposit accounts provide both guaranteed rates and up to three interest payment options.

Savers can opt for interest to be paid on a monthly basis, or at maturity, or with the 2 year account only on an annual basis.
 
Commenting on the launch, Dave Isley, Head of NatWest IPB, says, “In uncertain times when interest rates remain volatile, fixed interest rates are an attractive option. We have listened to our customers and we know how valuable flexibility can be, which is why we are offering a choice of interest payment options on a monthly basis, at maturity or annually in the case of the 2 year deposit.”
 
For the 1 Year Platinum account with a minimum balance of £5,000 the monthly interest rate (AER) is 2.40%; 2.37% (gross); and for savers taking their interest on maturity the rate (AER) is 2.40%; 2.40% (gross.) For the 2 Year Platinum account on the same minimum balance term, the monthly interest option pays 3.40% (AER); 3.35% (gross); annually 3.40% (AER); 3.46% (gross); and on maturity 3.40% (AER) and 3.40% (gross).

Early withdrawal of part or whole of the deposit is subject to an administration fee of £250 and an interest adjustment of 180 days at the 2 year rate deposit rate, or 90 days at the 1 year deposit rate. Where there is insufficient accrued interest to cover the administration fee or interest adjustment, the shortfall will be debited to the capital amount. On maturity, and in the absence of any alternative instruction, the deposit will be placed on a one month fixed term at the applicable rate at that time.

www.natwestinternational.com