NatWest has launched the First Active savings account, offering a 4.55% interest rate, making it the highest-paying easy-access savings account on the market. The account includes a fixed bonus rate of 1.5% for the first 12 months, after which the rate drops to 3.05%.
Account details and eligibility
Savers can deposit between £1 and £1 million into the account. Withdrawals are limited to £10,000 per transaction, with a maximum of £20,000 over a 24-hour period. To open an account, applicants must be UK residents aged 18 or over, have a UK mobile number, UK tax residency, and an open UK personal account.
The new account has been named the best easy-access savings account by both MoneySavingExpert.com and MoneyWeek.
NatWest’s statement on First Active
NatWest said: “First Active brings a competitive 4.5% instant access savings rate and a simple online experience, allowing customers to open an account in minutes with as little as £1.
“Designed for customers who actively manage their finances online, First Active combines flexibility and competitive returns. Focused on bringing more options to UK savers, First Active will expand customer choice through a digital-first savings proposition tailored to today's more active saver.
“The rollout of the new savings offering comes as research highlights a growing shift in how people approach managing money in their savings, with customers increasingly opting for flexibility and control.”
Other top easy-access options
The easy-access saver by Tembo also offers 4.55% interest, thanks to a 1.55% 12-month bonus. After the first year, the rate falls to 3%, and savers can only deposit up to £20,000 in total.
Tesco’s savings account offers 4.53% interest, including a 3.48% 12-month bonus, while Santander’s Cahoot Simple Saver pays 4.52% interest.
Some accounts offer higher interest but come with stricter limits. Paragon Bank’s Spring Accelerate Saver pays 5% interest, but savers can only deposit £5,000. Santander’s Cahoot Sunny Day Saver also offers 5%, with a £3,000 limit.
